Top 5 most confusing things about accounting

At Accounting Cafe we’re discussing how we help our students ❤️ accounting. Accounting terms that we take for granted are confusing for students. Thinking about this in your teaching can make their learning journey that much faster and easier.Here are my top 5 most confusing things about accounting:⁉️ An entity's most valuable assets are rarely… Continue reading Top 5 most confusing things about accounting

Teaching liabilities

Paul Jennings gives some useful tips and sequences for teaching liabilities. Image by cocoparisienne from Pixabay The elements of financial statements are the building blocks of financial statements.  If your students understand what the elements are then they will understand the basis for reporting events in financial statements. Those elements - assets, liabilities, equity, income… Continue reading Teaching liabilities

The nature of income

Dictionaries, from an accounting perspective, invariably provide an incorrect and conflated definition of income.

The nature of assets

Photo by Krisztina Papp on UnsplashA retailer has recognisable rights to its retail units even though it does not own the shopping centre. The elements of financial statements are the building blocks of financial statements.  If your students understand what the elements are then they have a good basis for understanding how events are reported… Continue reading The nature of assets