Image by Mahesh Patel from Pixabay Accounting students are understandably keen to put numbers next to everything. But often our students don’t understand why and how numbers are attached to words in financial statements. IFRS uses the term ‘measurement’ (rather than ‘valuation’) to describe the process of quantifying resources and obligations. Measurement allows us to describe resources and… Continue reading More tips on teaching measurement
Category: Conceptual Framework
Classification
The nature of equity
Of the five financial statement elements, equity is the most mercurial. In part, because it's a function of recognised assets less recognised liabilities, simply expressed in this form of the accounting equation. Assets – Liabilities = Equity (net assets) It’s this residual aspect of equity that makes balance sheets balance. They balance because equity is… Continue reading The nature of equity
Top 5 most confusing things about accounting
Photo by Sherise VD on Unsplash 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… 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
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
The nature of expenses
Seminar: Accountants can change the world
Concept maps in Accounting Education
Presentation by Toby York TACTYC Virtual Annual Conference on 15 May 2021 1. Background paper My presentation is based on a draft paper The benefits of concept mapping in accounting education [PDF] which is in three parts. Part one: identifies some common problems with current accounting education practices, drawn mostly from personal and anecdotal experiences.… Continue reading Concept maps in Accounting Education