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What kind of professional are you? Informed, competent or complete?

Accounting Cafe online seminar on 23 September 2021 Hilary Lindsay contends that complete professionals are those who continue to learn in response to their environments. This requires more than professional knowledge and skills. It requires career adaptability. Whether you are at the beginning, middle, or coming to the end of your career, this session inspired … Continue reading “What kind of professional are you? Informed, competent or complete?”

Teaching liabilities

Paul Jennings gives some useful tips and sequences for teaching liabilities. 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 and expenses – are key … 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

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 in financial statements. Those elements – assets, liabilities, equity, income and expenses – are key to understanding financial reporting. Something must meet the … Continue reading “The nature of assets”