AIR Fall 2012

Understanding Debits and Credits

Interpreting “Your Account Has Been Credited” on a Bank Deposit Receipt

The main purpose of this teaching resource is to enable students to understand the rules for debits and credits that are summarized in Exhibit 2. Many students are predisposed toward misunderstanding the effect of debits and credits on assets and liabilities. The reason is that they misinterpret what is meant by the words on their receipt when they make a deposit into their bank account. When depositors read, “Your account has been credited,” most assume that the words indicate that Cash has been credited. They are inclined to think that an increase to Cash or any other asset is recorded as a debit. Read More…


Thirty Years Serving Accounting Educators

I undertook Accounting Instructors’ Report thirty years ago because of my “belief that [its stated] purpose [was] not now being served adequately. Creative accounting instructors across the country are developing new insights into the teaching of accounting, and technology is rapidly changing the way accounting is taught and practiced. Further, there is a deep-seated frustration that there are not more and better ways to communicate with colleagues to discuss common problems and to exchange ideas on the teaching of accounting.” Today, we continue this same mission, and as we stated in the first issue, “We actively solicit your views, suggestions, and participation in Accounting Instructors’ Report. I look forward to hearing from you.” Read More…


Five Things You Should Know About Integrating IFRS in Your Beginning Accounting Course

We have been teaching IFRS in various levels of the accounting curriculum during the past  four years (from beginning to graduate level stand-alone courses). During this time, we have researched and organized an extensive list of informative IFRS related websites that facilitate in engaging the interest of and imparting IFRS knowledge to beginning accounting students.

This article is structured into the following five sections: (1) IFRS Resources and Websites Available; (2) Providing Incentives for Beginning Accounting Students to Learn IFRS; (3) History, Structure, and Standard-Setting of the IASB; (4) IFRS-U.S. GAAP Comparisons and Status of Global Adoption; and (5) Engaging Beginning Accounting Students with IFRS Videos. Read More…


Peyton, Inc: An IFRS Project for the First Intermediate Accounting Course

In 2008, the Securities and Exchange Commission (SEC) proposed a roadmap to issuing new rules that would require US domestic listed companies to adopt International Financial Reporting Standards (IFRS) by as early as 2014. Last year, the SEC suggested a slight variation on the path that could lead to US Generally Accepted Accounting Principles (GAAP) continuing for the foreseeable future and only gradually, over time, changing in the direction of IFRS. Given the situation, accounting educators who teach financial accounting courses face a major challenge in determining whether, and how, to integrate IFRS content into their courses. This paper offers a project that instructors teaching the first intermediate accounting course can use to give students exposure to IFRS and some of the major differences with US GAAP. Read More…


A Simple and Fun Approach to an Effective Class Communication

We are offering a simple and fun approach that can be easily applied by course instructors to provide effective feedback to students. We are inspired by online video games to come up with this approach. Read More…


Accounting Instructors’ Report, Fall 2012: Table of Contents

The following articles are featured in the Fall 2012 issue of the Accounting Instructors’ Report: TRENDS Thirty Years Serving Accounting Educators
Belverd E. Needles, Jr., Ph.D., CPA

ARTICLES Five Things You Should Know About Integrating IFRS in Your Beginning Accounting Course
Mark Holtzblatt, Cleveland State University
Norbert Tschakert, Salem State University Peyton, Inc: An IFRS Project for the First Intermediate Accounting Course
Kennard Brackney, Appalachian State University   TEACHING TECHNIQUES
Understanding Debits and Credits: Interpreting “Your Account Has Been Credited” on a Bank Deposit Receipt
Daniel Jones, Assumption College A Simple and Fun Approach Read More…


Card-Sorting Activities for Introducing Theoretical Frameworks

This exercise offers instructors an active learning tool useful for introducing theoretical frameworks. Frequently, accounting instructors need to relay to students the basic foundations upon which the rest of the course will build. Since the students are novices, transfer of this information can sometimes be challenging. We explain an in-class activity which engages students with the framework early in the course. We present details for three areas useful for accounting instructors: 1. objectives of financial reporting, 2. Objectives of the tax law, and 3. Classical ethical theories. Students are prompted to consider their own ideas and predispositions in each of the independent exercises. It is designed for a class of approximately twenty students, but can be altered to fit the needs of any class size.
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