Teaching and learning introductory accounting can be overwhelming for students and instructors. The enormous volume of content creates a challenge … to step back and look at the big picture. Over the years we have implemented an approach in our classes that serves as an anchor to teach the basics of double-entry while at the same time emphasizing the uses of financial statements in managing a business.

Our approach is called Financial Statements from 30,000 Feet. While it is important to know the details, it is vitally important for business students to view the statements and see the elements of financial statements, their relationships. and how they change when actions (transactions) affect them.

This article is from the Accounting Instructors’ Report, an electronic journal that provides teaching tips and insights to those who teach accounting and other business courses.

Belverd E. Needles, Jr., Ph.D., CPA
Marian Powers, Ph.D.

Read Financial Statements from 30,000 Feet: Six Numbers and Four Ratios Tell the Story