Objectives:
- Students will be able to explain the impact of asset disposition on financial statements.
- Students will be able to analyze and interpret the financial statements after asset disposition.
- Students will be able to identify the different methods used for asset disposition.
Age Level: Late secondary school/junior college
National Standards: Complies with NBEA Accounting 2023 Standard IV.3.5 Determine the impact on the financial statements when assets are sold, disposed of, or rendered obsolete.
Materials:
- Whiteboard and markers
- A deck of cards with different assets (e.g., equipment, furniture, vehicles, patents, trademarks, etc.)
- A game board with a path divided into sections representing different financial statement line items (e.g., cash, accounts receivable, inventory, property and equipment, etc.)
- Game pieces (one per student)
- Dice
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