Wiki Art Gallery, Inc.: A Case for Critical Thinking

2011 ◽  
Vol 26 (3) ◽  
pp. 593-608 ◽  
Author(s):  
Fred Phillips ◽  
Brandy Mackintosh
Keyword(s):  
Critical Thinking ◽  
Financial Performance ◽  
Financial Statements ◽  
Thinking Skills ◽  
Critical Thinking Skills ◽  
Financial Accounting ◽  
Art Gallery ◽  
For Profit ◽  
Accounting Choices

ABSTRACT This instructional case requires students to provide advice to a client who is currently a co-owner of a for-profit art gallery. The client is planning to purchase his co-owner's shares at a price to be determined based on their company's recent financial performance. The company's financial statements, prepared by the client's co-owner, contain accounting choices and judgments that students should identify and evaluate using critical thinking skills. This case is suitable for use in introductory and intermediate financial accounting, and in introductory auditing and assurance courses. Accompanying the case is a set of teaching notes and assessment rubrics for use by instructors.

Second Round Electronics: A Case for Critical Thinking

2013 ◽  
Vol 28 (4) ◽  
pp. 983-989 ◽  
Author(s):  
Nathalie Johnstone ◽  
Brandy Mackintosh ◽  
Fred Phillips
Keyword(s):  
Critical Thinking ◽  
Financial Reporting ◽  
Emerging Technologies ◽  
Financial Statements ◽  
Thinking Skills ◽  
Critical Thinking Skills ◽  
Financial Accounting ◽  
Class Discussion ◽  
For Profit ◽  
Writing Assignment

ABSTRACT This instructional case requires students to provide advice to a client who is currently the sole owner of a for-profit company that reconditions and sells used electronics. The client is considering purchasing a similar company with the vision of expanding into the sales and service of emerging technologies. The target company's unaudited financial statements contain questionable accounting choices and judgments that appear to enable the company to meet external financial reporting constraints. In their role as financial advisers, students are expected to use critical thinking skills to identify and evaluate questionable choices in the target company's financial statements. This case is suitable for use in introductory and intermediate financial accounting as well as introductory auditing and assurance courses, and can be used as a context for in-class discussion, as a basis for exam questions, and/or as a writing assignment. Assessment rubrics and Teaching Notes accompany the case for use by instructors.

Accounting for Giraffes at a For-Profit Zoo - A Case Study

2015 ◽  
Vol 1 (1) ◽  
pp. 99
Author(s):  
James Penner ◽  
Jagjit Singh Saini
Keyword(s):  
Critical Thinking ◽  
Learning Experience ◽  
Real Life ◽  
Thinking Skills ◽  
Critical Thinking Skills ◽  
Financial Accounting ◽  
Problem Solving Skills ◽  
Generally Accepted Accounting Principles ◽  
For Profit ◽  
Real Life Situation

This case is based on the accounting at a for-profit zoo. It provides students with an opportunity to explore and apply the Accounting Standards Codification (ASC) using a real-life example. This case challenges the students to use critical thinking skills to identify the relevant standards, as there is no direct reference in the ASC for accounting at a for-profit zoo.  An assessment of the students indicates that the case provides a useful learning experience in interpreting and applying the authoritative Generally Accepted Accounting Principles (GAAP) in a real-life situation. Additionally, the assessment results indicate that the case helps students to enhance their critical thinking, teamwork and problem-solving skills. This case could be used in any intermediate or advanced financial accounting class in which students are expected to use the ASC and learn the application of GAAP.    

scholarly journals Improving the Critical Thinking Skills of Accounting Students Using the Framework-Based Teaching Approach

2018 ◽  
pp. 116-121
Keyword(s):  
Critical Thinking ◽  
Teaching And Learning ◽  
Tertiary Education ◽  
Thinking Skills ◽  
Critical Thinking Skills ◽  
Financial Accounting ◽  
Accounting Students ◽  
Inquiry Based Learning ◽  
Critical Thinking Ability ◽  
Thinking Ability

The purpose of this paper is to examine how the Framework-based Teaching (FBT) approach improves the critical thinking skill among accounting students at tertiary education level. This qualitative study is conducted using the Scholarship of Teaching and Learning (SOTL) approach, where reflections from lecturers ‘experience in teaching and learning process are gathered. Data are collected from both accounting lecturers and students who implemented the FBT approach using the inquiry-based learning technique in the financial accounting course. Data are analysed using content analysis. The results from the study indicate that, based on lecturers’ reflection, students are pushed to think in depth in classes using the inquiry based learning of the FBT approach. This is supported by students’ feedback on their own critical thinking ability. Thus, the FBT approach improves the critical thinking skills among accounting students. The implication of this study is the practicability of the FBT approach in teaching financial accounting course at university level in encouraging critical thinking skills.

COSO 2013: Aligning Internal Controls and Principles

2016 ◽  
Vol 32 (3) ◽  
pp. 117-127 ◽  
Author(s):  
Denise Dickins ◽  
Rebecca G. Fay
Keyword(s):  
Critical Thinking ◽  
Financial Reporting ◽  
Internal Control ◽  
Financial Statements ◽  
Thinking Skills ◽  
Securities And Exchange Commission ◽  
Internal Controls ◽  
Critical Thinking Skills ◽  
Reading Assignment

ABSTRACT Strong systems of internal control over financial reporting (ICFR) are critical to the production of reliable financial statements. Securities and Exchange Commission (SEC) regulations require that companies design, maintain, and regularly evaluate their systems of ICFR, and Auditing Standard No. 5 requires that auditors evaluate companies' systems of ICFR. Therefore, it is necessary for accountants to be able to (1) describe and classify internal controls and (2) determine deficiencies in internal control. Recent reports suggest that accountants may lack sufficient training and guidance in these respects (e.g., Rapoport 2012). This activity provides an opportunity for students to practice these skills while learning more about the Committee of Sponsoring Organizations of the Treadway Commission's (COSO) 2013 Framework. Provided are a summary discussion of ICFR and the COSO 2013 Framework, an outside-of-class reading assignment, and an activity that requires students (independently or in groups, either in or outside of class) to employ critical-thinking skills to: (1) classify (i.e., map) a listing of controls as being aligned with one (or more) of the COSO 2013 Framework's five components and 17 principles that comprise a well-designed system of internal control, and (2) identify any deficiencies (gaps) in design due to missing or inadequate internal controls.

How Adjusting Entries Affect the Quality of Financial Reporting: The Case of Frosty Co.

2012 ◽  
Vol 27 (2) ◽  
pp. 493-524 ◽  
Author(s):  
Jason C. Porter
Keyword(s):  
Financial Reporting ◽  
Stock Price ◽  
Financial Statements ◽  
Thinking Skills ◽  
Critical Thinking Skills ◽  
Financial Accounting ◽  
Accounting Students ◽  
Financial Position ◽  
Accounting Scandals ◽  
Accounting Courses

ABSTRACT Recent accounting scandals have emphasized the need to think beyond debits and credits. Accounting students must understand the effects of transactions on a company's financial position, as well as the pressures and incentives they will someday face to misrepresent that position. This case introduces students in intermediate financial accounting courses to both of these important objectives. First, the case improves students' critical thinking skills in accounting by allowing them to determine if various correcting entries should be made, and what the effects of those transactions will be on the company's financial statements. Second, the case improves students' ability to evaluate ethical consequences by introducing them to conflicting incentives regarding those corrections: the obligation to provide investors with high-quality financial statements that fairly present the company's financial position versus the pressure to maintain a high stock price for investors. The case may be completed using either U.S. GAAP or IFRS.

Evaluating Financial Results at Graphic Apparel Corporation (GAC): The Impact of Accounting Policies

2014 ◽  
Vol 30 (1) ◽  
pp. 1-12
Author(s):  
Fred Phillips
Keyword(s):  
Critical Thinking ◽  
Financial Reporting ◽  
Thinking Skills ◽  
Critical Thinking Skills ◽  
Financial Accounting ◽  
Financial Statement ◽  
Reporting Practices ◽  
Accounting Courses ◽  
The Impact

ABSTRACT This case requires students to evaluate financial reporting practices adopted by a small apparel company. The company's owner/manager has recently taken the business in a new direction, and is asking for help in determining whether the company's existing financial accounting policies continue to be appropriate and how alternative policies would affect the reported financial results. This case will require students to apply knowledge of financial accounting and financial statement ratios to judge the appropriateness of selected accounting policies. This case is designed for use in introductory and intermediate financial accounting courses that aim to develop students' critical thinking skills.

The City of Providence, RI: A Case Examining the Financial Condition of a U.S. Municipality

2015 ◽  
Vol 30 (2) ◽  
pp. 127-139
Author(s):  
Christine E. Earley ◽  
Nancy Chun Feng ◽  
Patrick T. Kelly
Keyword(s):  
Critical Thinking ◽  
Thinking Skills ◽  
Critical Thinking Skills ◽  
Problem Solving Skills ◽  
Financial Status ◽  
For Profit ◽  
Financial Condition ◽  
Accounting Courses ◽  
Conducting Research ◽  
The City

ABSTRACT This case is intended for use in a wide variety of learning contexts, including undergraduate and graduate government and not-for-profit accounting courses, advanced accounting courses, public policy courses, along with courses that address municipal pensions at the college or university level, or other training programs. The case achieves four primary objectives: developing proficiency in ratio analyses for a municipality, conducting research related to the financial status of a municipality, improving critical thinking and problem-solving skills, and developing an awareness of potential public interest issues facing municipal leaders. We find that students benefit from analyzing the financial condition of the City of Providence, RI and develop critical thinking skills through their analyses.

PERBEDAAN PENINGKATAN KETERAMPILAN BERPIKIR KRITIS SISWA PADA MATERI TERMOKIMIA MELALUI PEMBELAJARAN GROUP DAN INDIVIDUAL PROBLEM SOLVING

2017 ◽  
Vol 9 (2) ◽  
pp. 99
Author(s):  
St Fatimah Azzahra
Keyword(s):  
Critical Thinking ◽  
Problem Solving ◽  
Thinking Skills ◽  
Critical Thinking Skills ◽  
Control Group ◽  
Learning Problem ◽  
Group Problem ◽  
Control Group Design ◽  
Group Design ◽  
Group Problem Solving

ABSTRACTThis research is aimed to know the differences increase critical thinking skills through learning group and individual problem solving in thermochemical material. This research uses a quasi-experimental design with nonequivalent control group design and study sample consisted of 103 students, divided into the first experimental (group problem solving) (35 students), the two group experimental (individual problem solving) (34 students). The collected through pretest-posttest. The analyzed with the Kruskal Wallis test, the results showed that the learning problem solving as a group or individually can improve students’ critical thinking skills. Statistical test there are significant differences in the students critical thinking skills thermochemical material between students who received group and individual problem solving. Critical thinking skills improvement with problem solving individual learning higher compared with group learning problem solving.Keywords: problem solving learning, critical thinking skillsABSTRAKPenelitian ini bertujuan untuk mengetahui perbedaan peningkatan keterampilan berpikir kritis siswa melalui pembelajaran group dan individual problem solving pada materi termokimia. Penelitian ini menggunakan metode quasi experimen dengan desain Nonequivalent Control Group Design dan sampel penelitian ini terdiri dari 103 siswa yang terbagi ke dalam kelompok eksperimen pertama (pembelajaran group problem solving) (35 siswa), kelompok eksperimen kedua (pembelajaran individual problem solving) (34 siswa).Pengumpulan data dilakukan melalui pretest-posttest. Data dianalisis dengan uji Kruskal Wallis Test, hasil penelitian menunjukkan bahwa pembelajaran problem solving secara group maupun secara individual dapat meningkatkan keterampilan berpikir kritis siswa. Data uji statistik, terdapat perbedaan yang signifikan keterampilan berpikir kritis siswa pada materi termokimia antara siswa yang mendapat pembelajaran group problem solving dan individual problem solving. Peningkatan keterampilan berpikir kritis dengan pembelajaran individual problem solving lebih tinggi dibandingkan dengan pembelajaran group problem solving.Kata Kunci: Pembelajaran Problem Solving, Keterampilan Berpikir Kritis

UPAYA MENINGKATKAN KOMPETENSI GURU SMP DALAM MENYUSUN TES HASIL BELAJAR BERBASIS KETERAMPILAN BERPIKIR KRITIS MELALUI SUPERVISI AKADEMIK

2019 ◽  
Vol 3 (4) ◽  
pp. 772
Author(s):  
Leni Suryani
Keyword(s):  
Critical Thinking ◽  
Data Collection ◽  
Learning Outcomes ◽  
Student Learning Outcomes ◽  
Thinking Skills ◽  
Critical Thinking Skills ◽  
Teacher Competence ◽  
Collection Data ◽  
High Level ◽  
Teacher Data

This research is motivated by the competence of teachers in preparing poor learning outcomes tests and has not been able to measure high-level thinking skills, especially critical thinking skills. Therefore the researcher seeks to improve teacher competence in compiling tests on student learning outcomes based on critical thinking skills through academic supervision. This study uses a school action research design that has stages of planning, implementation, observation, and reflection. This research was conducted for 2 months starting April 9 to May 17, 2019 for Physics teachers in the 7 target schools. Data is sourced from interviews with teachers and test documents prepared by the teacher. Data collection techniques include observation, interviews and documentation. Data analysis through the stages of data collection, data simplification, data presentation, conclusion drawing. Data were analyzed using assessment rubrics adjusted to indicators of critical thinking skills. The results of this study conclude that teacher competence in preparing tests of learning outcomes based on critical thinking skills has increased from the first cycle with a percentage of 61% with sufficient categories to 76% with good categories in cycle II.

Sign in / Sign up

Export Citation Format

Share Document