Dr Victoria Clout, Associate Professor Wei Chen and Ms Kate Morgan were awarded the 2022 John Prescott Award for Outstanding Teaching Innovation for the development of a simulated experiential financial accounting assignment in ACCT2511 ‘Financial Accounting Fundamentals’ and ACCT5930 ‘Financial Accounting’.
The team created this innovative assessment to address the gaps within the financial accounting discipline teaching of preparing students: (1) for the accounting profession using authentic datasets; and (2) development of the mastery of accounting cloud-based software. The assessment is designed to provide students with a hands-on real experience of using cloud-computing technology for financial reporting and immersion within a simulated business environment. The assessment has an experiential learning element of providing them with an understanding of being an entrepreneur/founder through writing persuasive business documents including a CEO letter and Management Commentary for an annual report for their simulated start-up company. Thus, this assessment prepares students for one of the key challenges of a start-up success of securing funding and retaining investors using financial information.
The John Prescott Award for Outstanding Teaching Innovation is an award for teaching innovation that has fundamentally challenged orthodoxy in a discipline/program, and that delivers outstanding benefits to a course/program in alignment with Business School and UNSW education goals and priorities. Funding for the award is generously donated by Mr. John Prescott AM, a passionate advocate for teaching innovation and the professional development of our staff.
The School congratulates Victoria, Wei and Kate on their achievement and success in this prestigious award in recognition of their innovative contributions to students’ learning.