Business students take courses in Financial Accounting where they learn the basic financial statements and how to present and analyze them. Accounting majors immediately experience a frustrating situation as they continue their studies with the Intermediate Accounting I course. Practicing accountants realize when they attend continuing education…

This paper offers a different perspective in measuring the value created by an organization. It does so in the context of an undergraduate course in managerial accounting. In order to break down the functional silo approach to problem solving that has become the model of traditional business education, applications of shadow accounting, the…

On the first day of Principles of Accounting classes, students learn the fundamental accounting equation from which all financial accounting practice emerge. The accounting equation is the criterion by which companies are valued and by which company performance is measured. This activity simplifies assets, liabilities, and owners' equity to the…

A common problem addressed in Managerial and Cost Accounting classes is that of selecting an optimal production mix given scarce resources. That is, if a firm produces a number of different products, and is faced with scarce resources (e.g., limitations on labor, materials, or machine time), what combination of products yields the greatest profit…

Accurate and effective decision-making is one of the most essential skills necessary for organizational success. The problem-solving process provides a systematic means of effectively recognizing, analyzing, and solving a dilemma. The key element in this process is critical analysis of the situation, which can be executed by a taking a Socratic…