This study investigated the dynamic processes involved in problem solving in a web-based cooperative learning environment implemented for a university accounting course. 54 students were recruited in a 4-year hospitality management program. The messages of participants in group discussions were counted and categorized to investigate the dynamic processes of problem-solving employed by students. These dialogues and follow-up interviews revealed a number of interesting findings: (1) students felt that the web-based cooperative learning environment was similar to a social network; (2) peer-interaction in web-based cooperative learning is highly beneficial; (3) the course of study may influence the nature of problem-solving messages; (4) the teaching method could alter the cognitive level of problem-solving; (5) a co-working style was the most common approach employed in the web-based cooperative learning environment; (6) cooperative learning is becoming increasingly popular in education; (7) technological developments can be expected to boost the adoption of web-based cooperative learning.