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ERIC Number: EJ1056330
Record Type: Journal
Publication Date: 2012
Pages: 6
Abstractor: As Provided
ISSN: ISSN-1942-2504
Visualizing Accounting Transaction Flows into Financial Statements
Jones, Daniel J.
American Journal of Business Education, v5 n6 p753-758 2012
Professors who teach the introductory accounting course should ask themselves: "What are the core concepts that I wish to have my non-majors remember if I meet them at their ten-year alumni class reunion?" There is a fundamental logic to financial accounting. This teaching note presents foundational accounting concepts in a manner that enables readers to understand this logic. In doing so, it answers the question posed above. The first half of the teaching note explains the purpose and elements of two primary financial reports: a balance sheet and an income statement. The second half presents the recording of several business transactions and traces their effect into a company's balance sheet and income statement. Designed for use early in an introductory accounting course, the teaching note enables students to develop a strong conceptual understanding of financial accounting.
Clute Institute. 6901 South Pierce Street Suite 239, Littleton, CO 80128. Tel: 303-904-4750; Fax: 303-978-0413; e-mail:; Web site:
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Grant or Contract Numbers: N/A