MFRS 137 provisions, contingent liabilities and contingent assets: smart game app

Gamification and game-based learning (GBL) may be applied as effective teaching and learning strategies to meet the requirements in various educational settings. MFRS 137 Smart Game App is an accounting game-based learning that provides a revolutionary new way of quickly and easily understanding specific financial accounting reporting standards in one day. The Malaysian Financial Reporting Standards (MFRS 137) particularly highlighted accounting treatment for Provisions, Contingent Liabilities and Contingent Assets. Learning with MFRS 137 Smart Game App is an incredibly versatile study tool because it enhances self-learning activities for students to remember accounting terms, concepts or treatment. Students nowadays are employing educational games as a tool for learning to improve their experience. As a result, educational institutions are faced with the task of meeting the rising demand for quality learning tools. Studies have shown that the use of educational games allows for more efficient processing and memory recall. Hence, a simple survey has been conducted, asking for students’ opinion regarding other preferable tools to help them in learning. The results showed that students demand game-based learning to further understand the subject matter. Educational institutions can gain great autonomy by using game-based learning to reach their broad audience. Therefore, game-based learning is believe to be more effective, faster and easy to use as compared to lengthy accounting standards or printed handouts. Furthermore, this game-based learning is accessible at the student convenience to assist with coursework and skill development. Given the huge benefit offered by MFRS 137 Smart Game App, it will be one of the most preferable learning methods and potential to bring immersive experiences for accounting students on MFRS 137.