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ERIC Number: EJ1060095
Record Type: Journal
Publication Date: 2014-Feb
Pages: 13
Abstractor: As Provided
ISSN: ISSN-1941-3394
A Principles-Based Approach to Teaching International Financial Reporting Standards (IFRS)
Persons, Obeua
Journal of Instructional Pedagogies, v13 Feb 2014
This article discusses the principles-based approach that emphasizes a "why" question by using the International Accounting Standards Board (IASB) "Conceptual Framework for Financial Reporting" to question and understand the basis for specific differences between IFRS and U.S. generally accepted accounting principles (U.S. GAAP) requirements, and to identify weaknesses of these requirements. It also provides detailed ready-for-use teaching notes of this approach concerning five accounting topics: inventories; property, plant, and equipment; intangibles; impairment of assets; and statement of cash flows. These principlesbased/framework-based teaching notes, that are appropriate for an intermediate accounting class and an international accounting course, should help stimulate classroom discussion, sharpen student critical thinking skill and develop professional judgment among students.
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Publication Type: Journal Articles; Reports - Descriptive
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Grant or Contract Numbers: N/A