Purpose: The purpose of this study is to identify an effective learning strategy for students to engage authentically in their learning process. This study also aims to introduce an innovative active learning approach. This is intended to enhance students' involvement and to strengthen self-confidence throughout their learning in the Financial Management class. As suggested in the literature review, the approach involves the adoption of structured and accountable presentation-based learning activities. Methodology: This study used action research design involving an iterative process of self-reflective cycles: planning, acting, observing and reflecting. This research was accomplished in two cycles. Three Financial Management classes of an undergraduate program consisting of 120 students in the first cycle and 110 students in the second cycle participated in this research as part of regular classroom activities. Semi-structured questionnaire, lecturer observation, and interview were used as the method for data collection. The quantitative and qualitative data that was collected were analysed accordingly. Findings: The results indicated that the approach which was adopted in this research enabled students to be actively engaged in their learning process. This nullified free-riding learning behaviour among the students. The results indicate that the approach adopted in this research reasonably enabled students to be actively engaged in their learning process and nullified free-riding learning behaviour among them. It also provided a chance to students to exercise their self-regulated learning towards a more independent learner and increased their confidence to speak and participate in the class forum. Significance: The results of this research contribute to the improvement of teaching practice in higher education particularly in the Financial Management course. The results imply that providing some freedom for students to creatively design and be accountable for their own learning has great potential of enhancing their authentic active learning and confidence.