Integrating a Real-World Business Execution Project into a Management Accounting Course (관리회계 팀실습과제 활용교육)

This study is based on a project assignment of running real one-day hot dog business in cost/managerial accounting courses. The undergraduate students actually made and sold their own hot dogs on campus. This paper aims to integrate a hands-on business project into a management accounting course by linking management accounting subjects to project processes. Students could apply most of the managerial accounting topics of budgeting, Cost-Volume-Profit analysis, variance analysis, and profitability analysis to the project. The hot dog business project helps increase students’ understanding of specific managerial accounting issues as well as overall business processes. The comprehensive team project itself provides a more interactive and active learning experience than traditional lectures. Feedback from students showed that the experiential project really helped them to comprehend interconnected management accounting key concepts clearly.