Tuesday March 2 2010
After ten years of attempting to grade students' attempt at journal entries I have concluded we have a content mastery problem. One theory of education is that students too often move to another level of difficulty without mastering the former level. The idea is that one should master the content of each level before moving on.
One sees this in assigning journal entries. Quickly the student starts just writing down account titles in a sort of chinese checkers progression hoping the right title will fall in the right slot.
Accounting education has moved to more of a cycle approach. For example, cash is converted to raw materials which are made into product which becomes beginning inventory which gets priced and sold into receivables and then collected back into cash. Grasping that cycle concept is intrinsic to the flow of accounting entries.
So, having said that, how about reviewing chapter one of principlesofaccounting.com.
We will be stressing this in class the rest of the semester for intermed II.
Professor Elam 
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