Using The Monopoly Board Game As An Efficient Tool In Introductory Financial Accounting Instruction

Abstract

This paper discusses the use of the Monopoly board game as a tool to contrast the concept of income from an economic perspective with the financial accounting (GAAP) concept of income. This approach is used in a principles of accounting course to make more efficient use of time in an environment where only one academic term is devoted to presenting basic financial accounting concepts. The use of an engaging and unusual medium early in the principles course helps students build confidence and provides positive reinforcement of understanding in a course that undergraduate business students do not always enjoy. The board game medium allows for a simple presentation of some of the differences in economic and accounting definitions of income. Further, it provides a familiar economic simulation of business activity that saves time in demonstrating the value of accounting information from the users perspective.