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This chapter describes three active learning activities developed for use in the introductory financial accounting class: an interview with a financial statement user, an internal control paper, and a financial statement project where students analyze two competing businesses. We gathered student surveys and direct assessment data to see if these activities add value to the introductory accounting course.

The learning activities were originally developed using Fink’s (2003) Taxonomy of Significant Learning, aligning the activities with Fink’s learning dimensions, which also support the higher order learning skills in Bloom’s revised taxonomy. Students completed surveys by comparing how well traditional class activities (i.e., homework and tests) and the new activities support the core competencies of the American Institute for Certified Public Accountants (AICPA). We also asked students open-ended questions on how they felt about these new activities. Researchers then compared pre- and postadoption assessment data to investigate the impact of the new learning activities on class completion rates and grades.

Based on faculty comments and student survey results, the three active learning assignments appear to be more effective in developing many of the AICPA’s core competencies and real world skill sets valued by professionals, providing more value than traditional teaching methods. In addition, the passing rates in the course at the Youngstown State University increased by 12% after adopting the learning innovations.

This chapter describes the development of a two-course sequence, which explicitly breaks down the silos between the accounting and finance disciplines. A descriptive narrative demonstrates how these courses integrate introductory courses in general business, managerial accounting, financial accounting and finance, and are taught freshman year. The courses are based around an 18-chapter Instructional Narrative about a fictitious company, Windspark, which evolves from a start-up service business in the wind turbine industry to a retailer of parts and then a manufacturer. Topics are introduced as the entrepreneurs in the Instructional Narrative require business knowledge. Individual faculty members teach an entire course, rather than teams comprised from different disciplines. A diagnostic quiz at the beginning of the second course tests students’ understanding and retention of material in the first course. The vast majority of students pass the diagnostic quiz on the first try. Despite its rigor and difficulty, the sequence has coincided with a significant uptick in students choosing to major in finance and accounting. This sequence demonstrates the feasibility and replicability of teaching a truly integrated introductory accounting and finance course sequence. Greater coordination and cooperation between disciplines is possible, with measurable benefits for students.

Introductory accounting courses have the dual objectives of teaching the fundamentals of financial and managerial accounting and creating the environment in which students develop positive attitudes toward the discipline. This study examines the extent to which there are differences in effectiveness in attaining each of these objectives under the financial accounting approach to introductory accounting versus a principles of accounting approach. We analyzed attitudes and quiz scores for non-accounting majors in a managerial accounting class as during the period of a curriculum change. Results indicate that student attitudes toward accounting as a discipline were largely unaffected. Student attitudes toward accounting as a factor affecting their careers after graduation were significantly more positive. There were no differences in quiz scores in the managerial accounting course. These findings suggest that although the financial accounting approach is more efficient, it is equally effective with respect to content delivery and more effective with respect to promoting the importance of accounting to careers.

In this paper, we describe our approach to incorporating the basics of International Financial Reporting Standards (IFRS) into introductory financial accounting courses. Prior survey evidence suggests that IFRS receives little coverage in such courses, with two primary reasons being a lack of available time and insufficient IFRS teaching materials tailored for introductory financial accounting (Zhu, Rich, Michenzi, & Cherubini, 2011). The objectives for our IFRS procedures were to provide all business students with a basic knowledge of IFRS and an understanding of the similarities and differences between U.S. GAAP and IFRS. We utilized an integrated, comparison-based methodology, and developed teaching materials that were incorporated into each chapter discussion through short vignettes, brief examples, and a comprehensive exercise. Evidence from a student survey suggests that a strong majority believe that IFRS coverage is important, and that our procedures contributed to their learning on the topic. Furthermore, the student survey suggested that the comparative nature of our IFRS procedures enhanced understanding of U.S. GAAP. As a result, our procedures provide guidance to accounting instructors looking to introduce students to the basics of IFRS or other complex topics within the time constraints of a crowded course.

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.

This study examines an issue that confronts most instructors in the first financial accounting course at the postsecondary level, that is, some students have had a high school accounting course, while others have not. Specifically, this study investigates the effect a high school accounting course has on student performance in their first postsecondary level financial accounting course (midterm examinations and course grades). The results suggest this relationship is significant and positive, yet must be interpreted carefully. For example, scholastic aptitude, time management skills, and other intrinsic values also play an important role in student achievement.

For nearly two decades, accounting educators have debated whether to continue with a preparer approach, or adopt a user perspective, or a blended model in the introductory financial accounting course. We examine the extent to which accounting programs have chosen to employ each approach, the factors that influenced their selection, as well as the relative importance of each factor. We also explore institutional and course characteristics associated with the choice of instructional method.

Our results indicate that one-third of programs employ the user perspective, and one-fifth the traditional preparer approach, while nearly half use a blend of the two. Programs using the preparer approach tend to focus on the accounting major (e.g., performance and career goals). In contrast, user approach institutions appear to emphasize performance issues and career paths of non-accounting majors.

This study investigates a perceived student performance disparity between traditional synchronous and web-based asynchronous course delivery. Synchronous classes meet face-to-face or online with scheduled meeting times and the ability to directly monitor class attendance and participation. Asynchronous classes are 100% online, requiring no face-to-face or online live sessions. This study identifies student attributes associated with performance differences in the two delivery modes. The authors examine data from over 15,000 students who took introductory financial and managerial accounting classes at a large state university. The authors analyze student demographic and class performance data. Controlling for instructor and year effects, the authors find a statistically significant lower DFW rate (better performance) in the synchronous introductory accounting classes compared to the asynchronous ones. Using these findings, the authors revised scheduling and advising protocols to improve student success likelihood in the asynchronous sections. This study provides two insights applicable to many accounting departments. First, the results suggest that empirically exploring student performance implications may be warranted as the number of web-based asynchronous class offerings grow. Additionally, the study provides an example of working within the limitations of existing registration policies and systems to translate the result of the analysis into improved advising and scheduling approaches.