Posted On: 8/1/2
Accounting is a topic many students find difficult to understand. Based on feedback from you and your students, we've made some updates to the AES Accounting module!
What Changed in the Accounting Module?
Though the changes to the Accounting module are relatively small, they will help improve your students’ understanding of accounting terms and concepts. Below you’ll find the detailed list of what changed with this release.
Updates to Unit 1: Accounting Overview
Lesson 1 - The Role of Accounting
- The definition of accounting was updated
- Content added on how accounting transactions are recorded (manual, computerized)
- Expanded information about Generally Accepted Accounting Principles (GAAP)
- Updated definitions of partnership and corporations
Lesson 2 - The Accounting Equation
- Updated the definition of liabilities
- Added information about drawing accounts for sole proprietorships and partnerships
Updates to Unit 2: Accounting Cycle
Lesson 3 - Financial Statements
- Added content about the importance of ethical standards in preparing financial statements
- Expanded information on the income statement
- Expanded information on the balance sheet
- Expanded information about the breakdown of assets and liabilities
Updates to Accounting Module Assessments
You’ll find that some quiz and test questions were changed to align with definition changes in the eLearning lessons. Additionally, some new questions were added to reflect new content in the module.
If you downloaded or printed any quizzes or tests before August 1, 2021, you may need to redownload them.
Updates to Student Worksheets
Worksheet questions affected by changes were updated, and some questions were added to cover new content.
The impact on the worksheets is minimal, though if you downloaded or printed the student worksheets before August 1, 2021, you may need to redownload them.