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Well-chosen pedagogical methods have been identified as one of five critical components of effective teaching (AECC 1993). Knechel (1989) argues that MonopolyTM can be used to help students understand the accounting and bookkeeping cycle and thus could be a valuable pedagogical method. We test this belief, using a sample of introductory financial accounting students . Our results indicate that students playing MonopolyTM adapted for the accounting classroom significantly helps students understand the accounting cycle when compared to students who receive classroom instruction only. Our results suggest this is one of potentially many ways in which games can be used to lead to greater student understanding of accounting concepts.