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

The nature of income

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

Explaining “qualitative characteristics” from the IFRS Conceptual Framework for Financial Reporting

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