Application of Integrative Learning to Introductory Managerial Accounting

• In Event: Teaching, Learning and Curriculum 2

Abstract

This paper presents a project that applies the integrative learning approach to introductory managerial accounting. The Association of American Colleges & Universities (AACU) considers integrative learnings as essential to prepare students to deal with complex issues and a key benchmark of a quality undergraduate education today. The key to an integrative learning approach is connection – connection to existing knowledge, connection to personal experience, and connection to professional experience (AACU 2005). The benefits of an integrative learning approach include enhanced knowledge retention, enhanced adaptability and transferring of contents into skills. Some educators have developed an e-portfolio process to implement integrative learning, in which the skills learned in a specific course should be integrated with the students’ overall portfolio. The projects completed in a specific course should showcase students’ skill sets (Peet, 2011).
To help students build the connection between managerial accounting and their personal experience, I designed a personal finance project. Students are required to prepare a budget, capture and categorize expenses, prepare a variance analysis and an income statement, and to calculate net worth. Besides the aforementioned general benefits, this project promotes financial literacy, which was found largely lacking in young adults (NFCC 2013). It enhances students’ awareness of their financial situation as a fresh graduate. It provides tools for them to make budget, identify and analyze positive and negative variances, and make informed personal financial decision.

Authors

• Fengyun Wu, Manhattan College

• Aileen Lowry Farrelly, Manhattan College