AIR

Experiential Learning In Cost Accounting

Experiential learning is a fancy term for something we all learned as children. As children, we quickly learned not to touch a hot stove. This was learning from experience. Experiential learning is learning from experience. A Chinese proverb, listed as quotation #12,274 in the Columbia World of Quotations also describes experiential learning. Confucius, the Chinese philosopher and reformer, is credited with the proverb, which states: I hear and I forget, I see and I remember, I do and I understand. Experiential learning is learning by doing. Thus, the essence of experiential learning is that experiential learning emphasizes active Read More…


Accounting for Normal Rework Common to All Jobs – Capturing the Essence of Manufacturing Overhead

The essence of manufacturing overhead is to capture all manufacturing costs other than direct materials and direct labor and then assign, apply or allocate these overhead costs to products in an organized and evenhanded way. When teaching Cost Accounting, direct materials and direct labor present few problems – but a good grasp on the essence of overhead can be elusive. Perhaps the best illustration of overhead at work is found in accounting for normal rework common to all jobs, whereby manufacturing overhead can be both a debit and a credit in a single journal entry.

This paper first presents an overview of manufacturing overhead, followed by a discussion of all types of rework: normal rework for a specific job, abnormal rework, and normal rework common to all jobs. A normal rework common to all jobs detailed example is also presented to show the purpose of manufacturing overhead and the efficiency with which this purpose is accomplished.

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Now I’m Going To Teach Accounting: What Do I Do Now?

In the three previous Trends (Fall 2013; Winter and Spring 2014) I addressed managing change through continuous improvement, identified the learning activities as building blocks for constructing a successful course, and addressed how to implement these learning strategies. Even as an experienced instructor I find it helpful to focus periodically on the basics of preparing to teach a class as if I was doing it for the first time. This article provides suggestions for new instructors and reminders for experienced instructors on how to prepare your Accounting course and conduct classes most effectively. You are encouraged to adopt the Read More…


Accounting Instructors’ Report, Summer 2014: Table of Contents

TRENDS
Now I’m Going To Teach Accounting: What Do I Do Now?
Belverd E. Needles, Jr., Ph.D., CPA

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Empirical Analysis of the Use of Accounting Workshops to Improve Outcomes in the Introductory Accounting Course

Introductory Accounting is one of the foundation courses in most business curricula. While some students do very well with the content, there are significant numbers who do not successfully complete the course or receive a minimal passing grade. In an effort to improve student success and increase retention, midterm and final study workshops were implemented. The implementation and assessment of the accounting workshops are discussed in this paper. Read More…


Playing the Double Entry Monopoly Game – Active Learning in Accounting Principles and Practices

Worldwide sales of the famous board game Monopoly® exceeded 250 million in 103 countries (Daffey, 2008). An estimated half a billion people are believed to have played the game Monopoly (Dixon, 2009), and more than 200 editions have been released in 37 languages (Daffey, 2008). Have you ever wondered why Madonna is so successful and rich? Apparently her favourite board game as a 10-year old child was Monopoly (Day, 2008). There is even a Monopoly World Championship for this popular game (Dixon, 2009). Why not use this famous board game in our accounting classroom? Needles (2011) explain that the diverse group of students in introductory principles of accounting classes makes it necessary to present the subject matter that will arouse their interest because motivating them to want to learn accounting is always a major challenge.

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Teaching Judgment in Beginning Accounting

Beginning accounting focuses mostly on definitions, procedures, and calculations: 1. What is an asset and how does it differ from an expense?, 2. How do you record the purchase of an asset or an expense?, 3. How do you calculate the amount of an expense or how much of an asset that has been expired?, and 4. How much are total assets or expenses? There are straight-forward answers to these questions, but it is important to encourage students, most of whom will have only one or two accounting courses in their academic careers, to consider the judgments that underline Read More…


Accounting Instructors’ Report, Fall 2011: Table of Contents

TRENDS

Teaching Judgment in Beginning Accounting
Belverd E. Needles, Jr., Ph.D., CPA

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A Classroom Aid for GASB 54 Fund Balance Reporting and Governmental Fund Type Definitions

GASB 54, Fund Balance Reporting and Governmental Fund Type Definitions issued in March 2009, is yet to find its way into many textbooks currently being used for Non Profit and Governmental Accounting courses. The objective of the current paper is to suggest a way to include this update in the class lectures. It is hoped that the use of summary tables and brief summaries of the complex new requirements will ease the learning curve for the students and help instructors convey the information in an effective manner. Read More…


Leveraging Narrative Learning Tools: A Pedagogical Discourse to Teaching Introductory Accounting Courses

This paper outlines a narrative discourse strategy to teaching accounting courses. It discusses narrative learning tools, demonstrating how students make use of the “Aha moment,” relating new knowledge to make a direct connection to their study of accounting concepts. During the academic years 2005-2006 and 2006-2007, a pedagogical/narrative discourse to teaching introductory financial and managerial accounting courses was a strategy used as a vehicle for evoking students’ awareness of and curiosity for their individual knowledge acquisition in accounting courses. Using this strategy requires a combination of: 1. pre-post assessments, 2. Journalizing, 3. lecture series or professional business meetings, Read More…