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 accounting and financial reporting.

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


Read Teaching Judgment in Beginning Accounting.