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Alamance County students get hands-on lesson in accounting

ALAMANCE COUNTY, N.C. -- Getting ready for finals exams is now fun for accounting students at Southern Alamance High School. They get to play a modified version of monopoly.

Accounting teacher Jolene Alley says it is a perfect review of the skills these accounting students have learned this semester.

"During the semester the students have learned different aspects of the accounting field," Alley said. " So they've learned how to do general journals and ledgers. They've learned the difference between debits and credits."

All are skills that will come in handy when the students have to manage their own money.

"With the Monopoly, they are able to purchase their own property," she said. "They are able to pay rent, pay expenses, take in their salaries and they have to record that in the documents they've been learning how to use in the class."

For the students, it's fun, challenging and very competitive.

"We have to like write down every transaction that we make," said sophomore Addy Duncan. "So like if somebody lands on my space, they have to pay me rent expense. So they put rent expense and then cash and then what they paid on the side. And then you just keep doing that until the end and then you total up to see how much money you lost or made."

The game also opens their eyes to the importance of money, keeping track of what you have and why saving for the future is very important.