In this accounting learning object, students follow the steps involved in the closing process. Temporary accounts contain ending balances for a specified period and must be closed.

Learners read an explanation of the debits and credits of accounting as they relate to T accounts and the accounting equation. Illustrated examples are provided.

Learners read about the purposes of balance sheets and income statements and then place accounts into these two financial statement categories in a drag-and-drop exercise.

With this highly entertaining four-minute animation, learners can visualize the basics of accounting.

In this interactive object, learners change the amount of money received from tax revenue and the amount spent on federal programs as they calculate how fiscal policy affects the gross domestic product (GDP), unemployment, inflation, the annual deficit, the national debt, and interest on the national debt.