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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
Image by Inactive_account_ID_249 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 obligations… Continue reading 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.
Alice Shepherd is an Associate Professor of Accounting and Finance at Leeds University Business School, Senior Fellow of the Higher Education Academy, and an award winning teacher with specialised knowledge of online and distance learning. https://videopress.com/v/6ZTnlr7W?resizeToParent=true&cover=true&posterUrl=https%3A%2F%2Faccountingcafe.org%2Fwp-content%2Fuploads%2F2021%2F12%2Fshepherd-alice_interview_20211210-1_mp4_std.original.jpg&preloadContent=metadata Alice Shepherd talks to Accounting Cafe Course context The cohort is approximately 200 students and the module is delivered… Continue reading Embedding a single company case in an IFRS course
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
Dictionaries, from an accounting perspective, invariably provide an incorrect and conflated definition of income.
Helping students to understand, rather than just memorise, IFRS principles The IFRS Conceptual Framework underpins what international financial reporting standards say and why they identify a particular accounting treatment. Students must understand this if they are to understand wider IFRS principles. An important aspect of the Conceptual Framework is an attempt to define "high quality" information,… Continue reading Explaining “qualitative characteristics” from the IFRS Conceptual Framework for Financial Reporting
