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Peer Review

3 - Basic Elements of Expense Recognition

Reviewed:
Mar 5, 2018 by Business
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Ratings

Overall Rating: 4.5 stars
Content Quality: 4.5 stars
Effectiveness: 4.8 stars
Ease of Use: 4.2 stars
Overview:
This 3-minute video presentation covers the basic types of accounting expense recognition. The three main types of expense recognition covered are: cause and effect, systematic/rational allocation and immediate recognition. After a brief introduction, the presenter narrates a series of slides that follow examples of expense recognition for a commercial entity. This video presentation is Module 3 of Chapter 3, from a sequence of videos that make up the Principles of Accounting, self-paced, online course. The complete course contains 24 chapters, and is available with a textbook for $89.95 (as of January 24, 2018) at www.principlesofaccounting.com website.
Type of Material:
Presentation
Recommended Uses:
Recommended for brief introduction to topic in class, as homework, or as an individual self-paced course.
Technical Requirements:
Web Browser. Reviewed using Firefox version 57 or Chrome.
Identify Major Learning Goals:
Students will be able to summarize the three main elements of accounting expense recognition in the financial statements.
Target Student Population:
College lower division business students, high school business students taking an Introductory Principles of Financial Accounting class.
Prerequisite Knowledge or Skills:
Basic knowledge of the income statement, matching principle, and definition of expense.

Content Quality

Rating:
Strengths:
The short, summary format allows material to be used to introduce the topic of expense recognition. The presentation demonstrates a core concept in financial accounting suitable for an introductory course. Content is clear, concise, accurate, and relevant to the topic of expense recognition. Concepts are integrated and summarized well.

The inclusion of the relevance of this topic to revenue recognition is very good. Doing so sparks interest in the value of understanding a basic concept that involves professional judgment.

Concerns:
The video is very brief and only provides a cursory demonstration of the concept of expense recognition. The video is not stand-alone, but should be viewed along with the sequence of course modules as listed on the website.

Potential Effectiveness as a Teaching Tool

Rating:
Strengths:
  • The short video segment allows instructors to easily integrate it into various curriculum assignments. Although very short, every part of the video is well stated and used.
  • Prerequisite knowledge and learning objectives are provided to orient the viewer as to where this module fits in the sequence of concepts.
  • The video builds on prior concepts, progressively introducing more difficult topics after the basics are covered.
  • Good examples add clarity to remarks made.
Concerns:
The presentation does not provide the ability to assess student understanding, however, assessment could easily be added by the adopter.

Ease of Use for Both Students and Faculty

Rating:
Strengths:
  • The brief format makes this video very easy to incorporate into course material.
  • The narration was clear and easy to follow. The tone of the presentation is fluid, with an easygoing style, and good gestures to retain interest.
  • Images are simple but effective.
  • The variety incorporated within the short video should retain the viewer's interest.
  • Closed-captioning is effective.
Concerns:
  • The pace of the narrative seems too fast at times.
  • A topic agenda is not provided during introduction slides; listing, for example, the three types of expense recognition first. Providing and outline or agenda would be helpful.
  • The introduction slides consist of the projection of a television screen displaying the slides alongside the narrator, andy they may appear blurry depending on the media viewer used. However, once screencast was used to display the slides the blurriness disappeared.
Other Issues and Comments:
This video is part of a comprehensive series for a 24-chapter course in Introductory Financial Accounting. Students may enroll in the course for free and order an accompanying textbook for approx. $90.00 (as of January 24, 2018). The course site also provides illustrative, accounting journal entries (in Microsoft Excel), a list of account types, a glossary and exercises for free download.

The course site contains copyrighted content. It is not clear whether written permission is required for educational use of just a single module.

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