Accounting Automatic Corrections: Extension for exercises preparation and correction [BETA]

[This extension and this documentation is in development and is not in its final form]

How it works

• Students complete the double entry accounting exercises using Banana Accounting.
• Accounting Automatic Corrections compare the student file with the solution file and highlight errors,  show the correct solution and calculate the score. 

It mostly automates the process of correction and allows teachers to dedicate their time to providing better individual feedback to students.

Prerequisites

The extension requires the Advanced subscription plan of Banana Accounting Plus.

Free subscription for Schools.

The workflow for using the extension

The extension assume that the Teacher give to the student an exersise that is composed of different assignments regarding how to book with the double entry accounting:

• The teacher prepares:
  • The exercise-assignment-file usually as a Word or PDF document format, or in some cases, it may include documents like invoices and receipts.
    • The exercise is composed of multiple assignments or documents.
    • Each assignment or document should have a unique number or identifier in any format (numeric, alphabetic, or similar).
    • The teacher decides how students should record any accounting entries across multiple lines.
  • The student-file-empty, an empty Banana Accounting file template with a predefined accounting plan in the Accounts table.
  • The teacher-file-solution containing the correct transactions in the Transactions table:
    • Each transaction has the exercise number or the identifier in the Doc column.
      • If the transaction spans multiple lines, the number must be repeated.
    • The column Calculation Score should specify how to calculate the score for each assignment.
    • The command check solution will
• Each student will receive the student-file-empty and then:
  • Create a student-file-result by renaming the student-empty-file with their own name.
  • Insert the transactions in the file.
  • Return the file to the teacher via e-mail or by saving it in the cloud.
• Teacher correction process:
  • All the student-result-files received will be saved in a directory named student-original.
  • All the student-result-files will also be copied to a directory student-corrections.
  • The sequence of the exercises in the student's file or the teacher's file is not important. The extension associates the exercise numbers or identifiers with the corresponding rights.
  • For each student's file in the student-correction folder the teacher will:
    • Open the file in Banana Accounting Plus.
    • Execute the command Extensions > Accounting Automatic Correction > Correct the exercises
    • The extension will ask for the teacher-file-solution
    • If the Calculation Score, Max Score, Teacher Score and Calculation Notes columns do not exist, they will only be added the first time the extension is used. Subsequently, to continue, it is necessary to click again on Extensions > Accounting Automatic Correction > Correct the exercises.
    • The extension will update the student file with the correct results and automated calculation scores and other information, as explained below.
    • Save the file.
    • Give the file back to the student.

Preparing the accounting exercise 

As usual the teacher prepare the double entry accounting exercise using a word processor.  

• Transaction number: each exercise has a unique number.
• Transaction description: each exercise starts with a description of a financial transaction that has occurred within a business. This could involve activities like purchasing goods, selling services, paying expenses, receiving payments, acquiring loans, etc.

The teacher also prepares a Banana Accounting template with the accounting plan, but without transactions.

Student use Banana Accounting and enter the transactions to solve the exercise. The students give the file to the teacher.

Below is the image of an example accounting exercise provided by the teacher.

Teacher Solution File

The teacher create a Banana Accounting file with the double entry accounting entry for each exercise.

• The Transaction Table you enter the transactions for each of the given exercise.
  • The solution may multiple lines.
• Enter the exercise number in the Doc column
  • In the Doc column of the Transaction Table you enter the exercise number.
    For exercise number you can use any numeric, alphanumeric values.
  • The number should correspond to the one in the assignment file or to the one indicated on each document (invoice, receipt, and other documents).
  • If the transaction requires multiple lines, the unique number must be repeated on each transaction's line.
  • The sequence of exercises in the student's or the teacher's file is not important.
  • The sequence of accounting transactions on multiple lines is not important for the functioning and scoring calculation.

Below is the image of the file containing the teacher's solutions.

Automatic Score Calculation

In collaboration with accounting teachers we are experimenting on automating the process of score calculation.

• Each row has a separate score.
• If an exercise has multiple row each single row will have their own score. 

Currently, the biggest question is how to enable the teacher to specify how the extension should calculate the score and what kinds of needs there are. We don't yet know how the correction process can be automated or if it's possible to achieve full automation, or if a hybrid solution (manual and automated) would be better, and to what extent.

The default settings in the teacher file are set to a score of 4 points for each line of the accounting transaction, even for transactions made across multiple lines. Thus, 1 point is deducted for each:

• incorrect debit account
• incorrect credit account
• incorrect amount
• incorrect date

down to zero points when all four columns are simultaneously incorrect. The teacher can modify the score with custom scores in the settings.

At the bottom of the student-result-file, there will be the total score obtained by the student and the maximum score achievable.

Correction of the Student's Files 

We assume that:

• Each student has completed the exercise using Banana Accounting.
• Each student has created a file and that has been given to the teacher.

The corrections process will add information to the student file. 
So better do a copy of the students file to keep a copy of the original file. 

When the teacher uses the Correct command, the extension will also add the following columns to the student's file:

• Max Score.
  The calculated maximum possible score, with the correct  
• Auto Score (Calculated).
  The calculated score, based
• Adjusted Score (Teacher).
  The adjusted score, based on the teacher evaluation
• Corrections Notes.
  The extension will notify the incorrect values.

Single student file corrections

• Open the student's accounting file.
• Click on the Extensions menu in Banana Accounting Plus.
• Click on Exercises correction and then, on the right, click on Correction of exercises.
• A window will open where you need to select the Banana Accounting Plus file containing the exercise solutions. Once selected the solution file, click the Open button.
• If in the student's file the Max Score, Auto Score, Adjusted Score and Corrections Notes columns do not exist, they will only be added the first time the extension is used. Subsequently, to continue, it is necessary to click again on Extensions > Exercises Correction > Correction of exercises.
• A window as the image below will open with a preview of the information that will be automatically written into the file. Click the OK button and observe the obtained result in the Transactions table.

How to read the result

In the image below, the student's accounting transactions have been juxtaposed with:

• the teacher's solutions, which are displayed in bold, to allow teachers to promptly check for errors.
• the square brackets before and after the accounts from the teacher's solution file are used to indicate transactions with accounting accounts that do not affect the balance sheet and income statement shown in the Accounts table.
• the rows highlighted in red are those where the student has made errors.
• the rows highlighted in green are correct.
• the Max Score column is set at 4 (checking the Date, Debit Account, Credit Account and Amount columns).
• the Auto Score column represents the calculated score for each exercise. It is assumed that the maximum score is 4 points, and each incorrect account debit, incorrect account credit, incorrect amount and incorrect date deducts 1 point from the Max Score.
• the Adjusted Score column is copied from the Auto Score to be used by the teacher.
• the Corrections Notes column includes information about the incorrect columns.

Resources for testing the extension

To test the student accounting exercises correction extension, you can download the pre-prepared templates for use:

• Exercise assignment file.
• Sample template for the student's exercise.
• Sample template for the teacher's solutions.

Resources to start using the extension

To start using the accounting exercises correction extension, you can download the pre-prepared templates for use:

• student-file-empty.ac2.
• teacher-file-solution.ac2.

Install the extension

Install the extension and start saving time during the correction of students' exercises following the procedure below:

• Click on the Extensions menu in Banana Accounting Plus.
• Click on Manage Extensions...
• In the window that opens, search by typing the term "exercise correction" in the empty text field at the top left of the window.
• Click on Extension for accounting exercises correction in the middle of the window.
• In the right column of the window, click the Install button.

Share educational content on Banana for schools or teachers with students effortlessly

Schools and teachers can now easily share educational material in the accounting field created on Banana directly within the Banana Accounting Plus software.

This way, you can simplify, facilitate and expedite the adoption of Banana accounting files for educational or private teaching in the field of business accounting.

To achieve this result, refer to and explore the pages related to the Banana Accounting Plus Community.