IFRS Exercises Through the Curriculum: Helping Students put US GAAP and IFRS in Context
Advances in Accounting Education: Teaching and Curriculum Innovations
ISBN: 978-1-78052-756-7, eISBN: 978-1-78052-757-4
Publication date: 9 August 2012
Abstract
This paper describes a series of cross-curricular exercises intended to introduce students to specific differences between US GAAP and IFRS, while also helping students understand how US GAAP and IFRS differently answer broader fundamental questions about accounting. These questions involve relevance, reliability, and managers’ use of judgment. Students play varying roles of financial statement stakeholders, according to the roles represented by three courses in the accounting curriculum. In all courses, the managers of the hypothetical firm face strong reporting incentives. Students make decisions according to the roles they play in each course. We observed that students not only identified the differences between US GAAP and IFRS, but also came to appreciate the potential impact of IFRS on stakeholders. Students also appreciated the effect of reporting incentives on managers under different reporting regimes.
Keywords
Citation
Allen, J., Christian Mastilak, M., Randolph, D. and Weickgenannt, A. (2012), "IFRS Exercises Through the Curriculum: Helping Students put US GAAP and IFRS in Context", Feldmann, D. and Rupert, T.J. (Ed.) Advances in Accounting Education: Teaching and Curriculum Innovations (Advances in Accounting Education, Vol. 13), Emerald Group Publishing Limited, Leeds, pp. 315-347. https://doi.org/10.1108/S1085-4622(2012)0000013018
Publisher
:Emerald Group Publishing Limited
Copyright © 2012, Emerald Group Publishing Limited