Presenter:
Sandra Roberson, Furman University
Description:
It is important that accounting students be able to read a standard, apply it and often, explain it to a third party who does not have an accounting background. To address this and emphasize the self-learning aspect of the profession, I use a semester-long project that, among other things, requires students to perform each of these tasks. The project incorporates class discussion, individual as well as group work, a "pair share" activity, research, written, and oral communications. Ultimately, in addition to applying the standard to a fact situation and drafting the related financial statement and footnote disclosures, the students are required to explain the effects of the standard on the company’s financial statements to its CEO. As is often the case in a corporate environment, the meeting is expected to be brief, the students are in teams (CFO, Controller, etc.) and the CEO does not have an accounting background.
Requiring students to research accounting standards is not new; however, I believe this realistic multi-part project that uses a variety of teaching tools and addresses multiple skills in an integrated setting is fairly unique. Participants will learn the project specifics, benefits realized, and pitfalls to avoid.
