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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
When accounting students understand that classification of assets and liabilities is an important step towards deciding how to report events, then they appreciate the importance of professional judgement in accounting. Here are some tips for teaching classification.
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
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
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
Dictionaries, from an accounting perspective, invariably provide an incorrect and conflated definition of income.
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
Expenses are a perfect illustration of how accounting uses common language in specific and uncommon ways.
Todd believes that accounting is not only broken but is contributing to the destruction of the planet. He is calling on accounting academics to help fix this.
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