Innovations in accounting education
Here are fifty minutes of ideas and practical suggestions to help you to deliver innovative accounting teaching, learning and assessment. We follow this with a discussion and experiences from other enthusiastic accounting educators from across the world.
On 17 February 2022, Accounting Cafe hosted Susan Smith, an innovative and prize-winning accounting educator, when she was Associate Dean at University of Sussex Business School.
| 00:00 | Introduction |
| 02:05 | Policy and external influences |
| 03:15 | Accounting curriculum tensions |
| 10:30 | Homogenisation of the curriculum |
| 11:08 | Establish your purpose |
| 13:04 | Active learning pedagogies |
| — 13:53 | — Team based learning |
| — 18:30 | — Problem based learning |
| – 19:50 | – The case method |
| – 24:48 | – Simulations |
| – 26:28 | – Simulations: gamification |
| – 28:52 | – Role play |
| — 30:08 | — Service learning |
| — 39:55 | — Summary of active learning |
| 40:28 | Pedagogical lens |
| — 40:31 | — Phenomenon based learning |
| — 41:22 | — Storytelling |
| — 43:00 | — Cross cultural learning |
| 44:40 | Assessment |
| 45:35 | Takeaways |
Before introducing changes
Susan ackowledges that innovating can be overwhelming and is certainly effortful, so she advises not to innovate simply for the sake of change. She suggests you should rather set out clear reasons for innovating and determine what success looks.
Good reasons to innovate include embedding employability skills, or implementing measures to narrow awarding gaps across ethnicities and social inequalities, to increase student retention, to maintain learning outcomes and/or contribute to the university’s other strategic goals.
An additional complication might be that your modules require accreditation from the professional accounting bodies and therefore must meet their prescriptions, while at the same time, you want your teaching to be distinctive.
Oh, and be sure to enhance student experience while you’re at it!
Active learning
Active learning provides great opportunities for academics to build expertise in specific teaching areas, but the overarching aim is to engage students productively, and research shows that this can benefit all students (Freeman et al, 2014).
Academics interpret active learning in different ways as it covers a broad range of pedagogies. This article provides a sample of the possibilities that are best suited to accounting education.
Team based learning
The teacher places students into small groups which remain the same for the entirety of the module. Before coming to class, each student undertakes individual preparation and completes an Individual Readiness Assurance Test (IRAT) consisting of short answers or a multiple choice test. Students review their individual answers in their respective groups during which they negotiate and finally submit an agreed answers to the each question. This group test is called the Team Readiness Assurance Test (TRAT).
The teacher reviews answers provided in the IRAT and TRAT and uses class time to fill in knowledge gaps, using exercises to apply and extend learning.
Team based learning is widely used across different insitutions and disciplines. Effective implementation requires careful planning and consideration and it requires a lot of upfront work to be effective. It is recommended that team based learning is implemented throughout the module.
Team based learning improves students’ academic performance, reduces some achievement gaps, and enriches the learning experience (Cagliesi & Ghanei, 2022).
More information: Team-Based Learning Collaborative (TBLC)
Problem based learning
Problem based learning is an umbrella term used to refer to case method, role play and simulations. It develops critical thinking, problem solving and communication skills. It also supports embedded employability skills.
A problem might be a current news story or a teacher-created scenario. To be effective it must engage and motivate students to seek out a deeper understanding of concepts. The problem should require students to make reasoned decisions and to defend them and incorporate the content objectives in such a way as to connect it to previous knowledge.
1. The case method
Cases describe real-world scenarios often centred around a specific problem challenge or dilemma. The case method provides an opportunity for students to consider and apply concepts in a practical context. Faculty members with experience or connections with the profession or industry can write their own cases and submit them for publication, for example, Issues in Accounting Education and Accounting Perspectives.
It may be more effective if embedded throughout the module but can also be adopted on an ad hoc basis.
A case study can provide an excellent foundation for capstone assessments. These allow students to demonstrate attainment of learning outcomes over multiple modules (or even an entire year of study) in a single assessment.
There is a lot of support for teachers looking to adopt the case method. The Case Centre provides resources, training and scholarships for new teachers to case teaching. Published cases also attract royalties.
More information: The Case Centre
Harvard Business Review (webinars)
2. Simulations
Simulations allows students to practise decision-making in a ‘safe’ environment and requires them to focus on specific learning points.
There aren’t many simulations available for accounting and most of those are “off the shelf”, so may not be suitable. There is a cost consideration too.
A specific type of simulation is games based learning (or gamification):
- Monopoly has been used to help students prepare for an accounting exam (Bergner & Brooks, 2017)
- The Colour Accounting Learning System uses a board and activities as the basis for demonstrating accounting concepts
- AccountinGame is a quiz like board game used in classes (Silva, 2021)
- LEGO® Serious Play could be used to create an accounting simulation.
There are also various apps and online simulations.
Financial Education for Future Entrepreneurs (FEFE)
3. Role play
Role play is a valuable approach that is not much used. It requires students to take on a role and to consider a scenario or problem from that perspective and to communicate and interact with students in other roles.
Susan suggests that this suits smaller cohorts better. A good illustrative example relates to audit education (Powell et al., 2020).
See also: Using role play to teach accounting transaction cycles
Service learning
Service learning is also referred to as real world, authentic or experiential learning. Students are given access to a real problem and can provide them with the opportunity to add value.
Finding and managing projects is time intensive and scaleability may be problematic.
Riipen is an international platform that connects companies and students.
More information: Riipen
References
Bergner, J. & Brooks, M. (2017), “The Efficacy of Using Monopoly to Improve Undergraduate Students’ Understanding of the Accounting Cycle”, Advances in Accounting Education: Teaching and Curriculum Innovations (Advances in Accounting Education, Vol. 20), Emerald Publishing Limited, Bingley, pp. 33-50. https://doi.org/10.1108/S1085-462220170000020003
Cagliesi, G. & Ghanei, M. (2022) Team-based learning in economics: Promoting group collaboration, diversity and inclusion, The Journal of Economic Education, 53:1, 11-30, DOI: 10.1080/00220485.2021.2004276.
Duch, B. J., Groh, S. E, & Allen, D. E. (Eds.). (2001). The power of problem-based learning. Sterling, VA: Stylus
Freeman S, Eddy SL, McDonough M, Smith MK, Okoroafor N, Jordt H, Wenderoth MP. (2014) Active learning increases student performance in science, engineering, and mathematics, Proc Natl Acad Sci USA, DOI: 10.1073/pnas.1319030111.
Powell, L., Lambert, D., McGuigan, N., Prasad, A., & Lin, J. (2020) Fostering creativity in audit through co-created role-play, Accounting Education, 29:6, 605-639, DOI: 10.1080/09639284.2020.1838929
Sangster, A., Stoner, G. & Flood, B. (2020) Insights into accounting education in a COVID-19 world, Accounting Education, 29:5, 431-562, DOI: 10.1080/09639284.2020.1808487
Silva, R., Rodrigues, R. & Leal, C. (2021) Games based learning in accounting education – which dimensions are the most relevant?, Accounting Education, 30:2, 159-187, DOI: 10.1080/09639284.2021.1891107
Suwardy, T., Pan, G. & Seow, P-S. (2013) Using Digital Storytelling to Engage Student Learning, Accounting Education, 22:2, 109-124, DOI: 10.1080/09639284.2012.748505
Taylor, M., Marrone, M., Tayar, M. & Mueller, B. (2018) Digital storytelling and visual metaphor in lectures: a study of student engagement, Accounting Education, 27:6, 552-569, DOI: 10.1080/09639284.2017.1361848
Wahid ElKelish, W. & Ahmed, R. (2021) Advancing accounting education using LEGO® Serious Play simulation technique, Accounting Education, DOI: 10.1080/09639284.2021.1905011.
Susan is Professor in Accounting at UCL School of Management. She holds a PhD in Accounting and is a Principal Fellow of Advance HE, and an elected member of the ICAEW.
In 2021 Susan won the Learning Together Award at the University Education Awards for her work with a staff-student partnership.
This is part of the Pedagogy series of articles
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