In the world of financial accounting, one bookkeeping transaction has two effects. We call these two effects “debits and credits.” This is the first thing all accounting students need to understand about them. Let us consider a few analogies to better understand this fundamental idea. Accounting term Debit Credit Analogy: coin Heads Tails Analogy: Newton’s […]
In the ACCY department, we curve courses to an average of 3.3 grade points (B+). I had over 70 students across three sections in my ACCY 301 course for the fall of 2021, and wanted the accuracy of using an algorithm to calculate and apply the curve rather than trying to do it by hand. […]
How should a fiscal year be named? In March of this year, I received a question from a student about the correct way to name a fiscal year. The student asked this question because of the way the fiscal years were named in a case project that was due the following week. I had never […]
I created this image to help students easily understand the difference between tracing and vouching in a financial statement audit. Many thanks to my colleague Dawn Kink for her positive feedback about this image. Feel free to use this image if you think it will be helpful to your students. I would appreciate attribution as […]
When first learning about time value of money, it can be confusing to know which table to use in accounting problems. I use the tables in my instruction so that my students won’t be surprised by them if they encounter them on the CPA exam. However, I believe that for FAR and BEC, Excel is […]
I’m excited to start this blog. I plan to use it to post unique content that I create for my students. If you would like more information about me, here is a link to my university bio.