AIR

Accounting Instructors’ Report, Winter 2015: Table of Contents

TRENDS
Financial Statements from 30,000 Feet: Six Numbers and Four Ratios Tell The Story
Belverd E. Needles, Jr., Ph.D., CPA
Marian Powers, Ph.D.

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Cheating on Exams? Not In My Classroom!

There are dozens of insightful articles on why students cheat on exams and almost as many on how students accomplish this. There are also other interesting sites that offer pictures of students actually carrying out their deceitful methods. This article focuses on the how question combining discussion with illustrations so that educators can get a sense of what to look for when suspicions arise. This can go a long way in detecting as well as preventing this devious behavior.

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Case Studies, Technology, and Pedagogy: Delivering Cases Through Multiple Platforms

The Case method is a powerful student-centered teaching tool that brings real-life situations into the classroom. This paper describes variations and insights that emerge from the experiences in teaching cases using diverse online and in-class available technologies. Cases can impart pedagogic outcomes such as critical thinking, communication, and interpersonal skills in addition to depth and multidisciplinary breadth of content. The case method serves to bridge the gap between theory and practice, and impart pedagogic outcomes such as critical thinking, communication, and interpersonal skills in addition to depth and multidisciplinary breadth of content.

Given the ubiquitous nature of technology supporting pedagogy, this article highlights how technology may be applied to the case study method. Different teaching approaches (hybrid and fully online approach) facilitated by technology supports a range of learning environments with additional advantages from group interaction and synchronous presentation tools. It is also relevant that the use of modern technology will give tomorrow’s leaders the advantage of having learned in the same environment in which they will work.

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Best Practices for Teaching Accounting Courses Online

This article discusses the best practices in teaching and learning online accounting courses in the second largest, private, nonprofit, and accredited institution of higher learning in California. The university offers a unique one-course-a month format that caters to the needs of working adults with average age of thirty three years. The flexible online degree programs enable students to complete their degree programs in a highly intensive and accelerated time frame. This piece of research provides strategies and techniques that result to more effective and efficient teaching/learning in the Bachelor of Science in Accountancy program. It includes topics such as course outline, program learning outcomes mapped to institutional learning outcomes, specific courses and related course learning outcomes, asynchronous threaded discussion, synchronous live chat sessions, and grading factors in the assessment of students’ achievement in the course. It is hoped that this research will contribute to a more productive learning and teaching experience in the global virtual classrooms.
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The Games That People Play! Two Activities To Lighten And Liven An AIS Course

Games are becoming more popular in business and accounting courses as educators look for ways to promote active learning. I discuss two activities, in the form of games, which I have successfully incorporated into my Accounting Information Systems (“AIS”) course. I have witnessed greater student participation and advanced preparation when I employ these methods. Achieving greater student engagement is an especially daunting task in the Accounting Information Systems course because it is often one of the accounting major’s least favorite classes. Vatanasakdakul and Aoun (2011) cite numerous reasons why.
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Financial Statements from 30,000 Feet: Six Numbers and Four Ratios Tell The Story

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.
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Target Versus Tesco: Comparing The Reporting of Cash Flows Under GAAP and IFRS

Convergence of U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) has been a high-profile issue for several years. However, in a report released by the Securities and Exchange Commission (SEC) in 2012, the SEC appears to back away from adoption of IFRS, citing significant remaining differences between the two sets of standards as a part of the reason for the shift away from adoption (SEC 2012). The two standard-setting bodies, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB), are working to converge on a few more of these differences, but a sizeable number will remain. This paper offers a statement of cash flows assignment that faculty can use to help accounting students develop a better understanding of an often-overlooked financial statement as well as some of the significant differences between the GAAP and IFRS guidance.
 
This assignment aims to give students:
(1) a better sense of the purpose and structure of the statement of cash flows;
(2) a stronger working knowledge of the applicable GAAP and IFRS standards, and the differences between them; and
(3) additional experience reading and interpreting the GAAP and IFRS standards.
 
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Visual Representation of Accounting Standards

The new normal in the regulatory environment of financial reporting is the rapid change in accounting standards with large philosophical and conceptual shifts in underlying principles. The rate of change and increasing complexity in accounting standards make teaching of advanced level courses in financial accounting difficult and challenging. For example, in the realm of the International Financial Reporting Standards (IFRS), newly issued IFRS 9 Financial Instruments, IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 13 Fair Value Measurement and IFRS 15 Revenue from Contracts with Customers have significant impact on the future of financial reporting. Further, the exposure draft on lease accounting is likely to be released in the near future that would change well-established accounting approaches. Accounting professors face the tremendous challenge of equipping students to deal with the rapid change in accounting standards. This paper explains how a project assignment has been used in an Advanced Financial Accounting course to instill in students the skills of analyzing and deconstructing the logical flow of a new accounting standard.
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Promoting Experiential Learning in an Introductory Managerial Accounting Course

This paper describes an instructional approach that introduces students to entrepreneurial decision-making and a practical way of learning the basics of short-term profit planning. Using a familiar frame of reference, students conceive of a food product to sell in a booth at a one-week carnival or local community festival, estimate the costs involved in producing and selling the product, ascertain an appropriate selling price for the product, and examine the feasibility of the one-week venture using cost-volume-profit (CVP) analysis. The project involves research, analysis, decision-making, and written communication-all of which are sought-after competencies in the marketplace. In addition, the project affords students an opportunity to enhance their Excel-based skills. The project is intended to engage students in a realistic context that reinforces core profit-planning concepts learned in the classroom.
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An Effective Strategy to Introduce IFRS into the Advanced Accounting Curriculum

This paper describes an innovative cooperative learning project set in the context of current discussions on International Financial Reporting Standards (IFRS). Student partners were tasked to become champions on specific IFRS standards and share their understanding with the fellow students in an advanced accounting class. First, students were required to individually research an area of IFRS based on a local CPA presentation. Afterwards, a local CPA firm made a formal IFRS presentation to the advanced accounting class. This was followed by students working independently in pairs to research a specific IFRS standard and synthesizing their findings into a formal oral presentation to educate their classmates. Finally students wrote individual reflection papers on learning IFRS. A key feature of the project was building learning interdependence within and across groups. Student feedback suggest this project enhanced student learning and interest in IFRS by moving away from the passive “chalk and talk” pedagogical approach towards an active, deeper learning experience. The paper is focused on instructors with limited or no prior experience on teaching IFRS.

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