Risk and Challenges in Experiential Learning in Accounting Education: The Use of Riipen.com for Team Projects Assigned by Industry Partners

This paper discusses two accounting instructors’ and two industry partners’ experiences with experiential learning in accounting classes from 2021 to 2024. Experiential learning and hands-on class projects have been praised for their positive impact on learning; however, there are also risks and challenges to adopting such projects in the classroom. The platform used was Riipen.com , the largest online experiential learning platform in North America that helps connect instructors and their classes with industry partners from around the world. The students from various classes were given the opportunity to work individually or in teams toward the completion of a short project for an industry partner selected by the instructor on Riipen’s open marketplace. On Riipen, learners may receive feedback from the industry partner. The instructors graded the learners on their Riipen work. The four research questions (RQs) in this study are empirical. RQ1 is: “What kind of Riipen projects did the industry partners provide to the accounting students?” RQ2 is: “How did the students perform on the Riipen projects with respect to regular attendance of and timely contributions to project meetings (industry partners’ and faculty feedback)?” RQ3 is: “What are the industry partners’ and instructors’ impressions of student engagement with the Riipen projects?” RQ4 is: “What are the industry partners’ and instructors’ impressions of students’ quality of work with respect to completion of project objectives?” To answer these questions, the authors use experiential learning theory, the theory that assumes that learners learn the best by doing. The findings are the following. Answer to RQ1: The projects were from a variety of industries, both from startups and from more established companies. These projects required the completion of various tasks, such as creating a business plan, creating a product pricing model, doing statistical analysis, etc. Answer to RQ2: The students’ performance was determined by the industry partners and instructors to vary from non-engagement to regular attendance of meetings and timely contributions to projects. Answer to RQ3: Student engagement was generally good (although this varied from class to class and from team to team) according to the industry partners and instructors. The instructors observed that some students opted out of the Riipen project and decided to do an alternative assignment instead, or decided to switch teams or work individually. Answer to RQ4: According to industry partners and instructors, the students’ quality of work varied from lack of contribution to the Riipen project to excellent work that met or exceeded the projects’ objectives.