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A Proposal for Teaching Introductory and Intermediate Accounting in an Environment of International Financial Reporting Standards and Generally Accepted Accounting Principles for Private Enterprises

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  • FRED PRIES
  • RON BAKER

Abstract

Teaching introductory and intermediate financial accounting in an environment of international financial reporting standards (IFRS) and generally accepted accounting principles for private enterprises (GAAP for PEs) is an issue facing faculty at Canadian universities and colleges. We present a number of options and then propose an approach that we believe provides a balanced treatment of accounting standards for both publicly accountable and private enterprises. This approach focuses on the concepts and principles that are common to both IFRS and GAAP for PEs. We argue that this approach encourages deep learning resulting in students’ better understanding of accounting standards and their application. Proposition d’enseignement de la comptabilitéélémentaire et intermédiaire dans un contexte de normes internationales d’information financière et de principes comptables généralement reconnus pour les entreprises à capital fermé Résumé L’enseignement de la comptabilité générale élémentaire et intermédiaire dans le contexte des IFRS et des PCGR pour les entreprises à capital fermé est problématique pour les professeurs des universités et des collèges canadiens. Les auteurs exposent différentes options et proposent ensuite une approche qui offre, selon eux, un traitement équilibré des normes comptables pour les entreprises ayant une obligation d’information du public ainsi que les entreprises à capital fermé. Cette approche est axée sur les notions et les principes que partagent les IFRS et les PCGR pour les entreprises à capital fermé. Selon les auteurs, elle favorise un apprentissage en profondeur permettant aux étudiants de mieux comprendre les normes comptables et leur application.

Suggested Citation

  • Fred Pries & Ron Baker, 2010. "A Proposal for Teaching Introductory and Intermediate Accounting in an Environment of International Financial Reporting Standards and Generally Accepted Accounting Principles for Private Enterprises," Accounting Perspectives, John Wiley & Sons, vol. 9(1), pages 15-27, March.
    • Handle: RePEc:wly:accper:v:9:y:2010:i:1:p:15-27
    DOI: 10.1111/j.1911-3838.2010.00002.x
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    1. Noel Harding & Mingchuan Ren, 2007. "The importance in accounting of ambiguity tolerance at the national level," Asian Review of Accounting, Emerald Group Publishing Limited, vol. 15(1), pages 6-24, January.
    2. Ursula Lucas, 2001. "Deep and surface approaches to learning within introductory accounting: a phenomenographic study," Accounting Education, Taylor & Francis Journals, vol. 10(2), pages 161-184.
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