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Applying a framework-based approach to teach complex problem-solving to Accounting students / Karen OdendaalOdendaal, Karen January 2015 (has links)
Accounting transactions are becoming more complex, and more extensive accounting guidance is
provided on a continuous basis in the accounting standards. In addition, accounting guidance
changes often and additional guidance is added to the standards regularly. In view of this immense
amount of accounting knowledge that an accountant can be expected to have, exacerbated by often
multifaceted structures in accounting problems, it can be challenging and onerous to solve certain
accounting problems.
The premise of this study is that accounting problems can also be solved in a less complex manner
with reference to the foundational accounting concepts included in the Conceptual Framework for
Financial Reporting (CF). The solution to the accounting problem using the CF should result in a
similar answer had the detailed, complex accounting guidance been consulted. This is based on the
understanding that the detailed guidance is consistent with the CF and that the CF is not
underdeveloped. In the experience of the author of this dissertation, however, the CF is rarely used
to consider the accounting treatment of specific transactions and the first point of reference is usually
the detailed, specific guidance.
In order to impart a practice of incorporating the CF in problem-solving, the study in this dissertation
is underpinned by educational philosophies rooted mainly in constructivism, and specifically in
Ausubel’s subsumption theory. Applied to accounting education, this theory suggests a frameworkbased
approach whereby educators first instil a detailed knowledge of the CF in an Accounting
course and thereafter present details of specific accounting transactions by building and crossreferencing
to the foundational concepts in the CF. In addition, the paradigm in Accounting courses
should also incorporate problems and experiments through which students can construct their own
knowledge, rather than being passive recipients of an educator’s teaching style. Recent literature on framework-based teaching suggests that such an approach is beneficial as it enhances lifelong
learning.
This study reported on a framework-based approach incorporated in an Accounting course and
aimed to determine students’ ability to solve complex accounting problems by referring only to the
CF, as well as to determine the factors that could influence their ability to solve the problems and
the preferred problem-solving approach of students in facing future accounting problems. In order to
address the broad aim of this study, it was divided into two sections, each to identify and analyse a
different aspect of accounting problem-solving that incorporated the CF. The study in this dissertation
focused mainly on an interpretive research paradigm. The first project had the primary objective of
determining whether students have the ability to solve complex accounting problems by using only
the CF and determining which factors could influence their ability. This was established by analysing
the content and results of an assignment administered to third-year Accounting students at a South
African university in which students were required to solve problems using only the CF. The second
project had the objective of determining the preferred future approach students will take in solving
accounting problems after they have been exposed to a framework-based assignment. This was
established through qualitative measures and augmented by a questionnaire to analyse the students’
perceptions.
The contributions of this dissertation are manifold and include, but are not limited to, the realisation
that a conceptual approach to accounting education is beneficial in Accounting courses. The results
in this study indicate that the ability of students to solve complex accounting problems by referring
only to the CF may depend on the complexity of the scenario and the students’ familiarity with the
problem. In addition, after being exposed to a framework-based assignment, students may tend to
prefer a mixed approach in solving accounting problems, which entails a combination of the concepts
in the CF and specific accounting guidance governing a particular transaction. The author also
believes that this study makes a practical contribution by providing an actual framework-based
assignment which can be used or adapted by other Accounting educators to use in similar courses,
or to help them develop similar assignments or case studies or to replicate the study.
From an educational perspective, it is recommended that Accounting educators incorporate an
emphasis on the CF in their teaching approach. As students are exposed to opportunities to exercise
their judgement using the concepts included in the CF, they will gain experience in this and be able
to exercise better judgement in future. Each time a student is exposed to a problem requiring to be
solved using the CF, or is required to make necessary judgements with regard to the CF, it will lead
to the creation of new knowledge which the student can constantly link and cross-reference to
existing knowledge and experiences. It also appears that, when students are exposed to problem-solving using the CF, it may lead to accountants adopting a more balanced approach by considering
more CF constructs in solving future accounting problems.
Although the study in this dissertation was conducted at only one university, its implications are by
no means limited to this institution. Extrapolation of results cannot be attempted due to the nature of
the research design, but the results in this study are valuable and enhance accounting education
literature in better understanding students’ problem-solving abilities and their preferred problemsolving
approach. The research is therefore valuable to any Accounting educator, as well as the
institutional bodies guiding accounting education and its syllabi. It is hoped also that some of the
findings will inspire other educational institutions to promote a framework-based approach in an
innovative manner. / MCom (Accountancy), North-West University, Potchefstroom Campus, 2015
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Applying a framework-based approach to teach complex problem-solving to Accounting students / Karen OdendaalOdendaal, Karen January 2015 (has links)
Accounting transactions are becoming more complex, and more extensive accounting guidance is
provided on a continuous basis in the accounting standards. In addition, accounting guidance
changes often and additional guidance is added to the standards regularly. In view of this immense
amount of accounting knowledge that an accountant can be expected to have, exacerbated by often
multifaceted structures in accounting problems, it can be challenging and onerous to solve certain
accounting problems.
The premise of this study is that accounting problems can also be solved in a less complex manner
with reference to the foundational accounting concepts included in the Conceptual Framework for
Financial Reporting (CF). The solution to the accounting problem using the CF should result in a
similar answer had the detailed, complex accounting guidance been consulted. This is based on the
understanding that the detailed guidance is consistent with the CF and that the CF is not
underdeveloped. In the experience of the author of this dissertation, however, the CF is rarely used
to consider the accounting treatment of specific transactions and the first point of reference is usually
the detailed, specific guidance.
In order to impart a practice of incorporating the CF in problem-solving, the study in this dissertation
is underpinned by educational philosophies rooted mainly in constructivism, and specifically in
Ausubel’s subsumption theory. Applied to accounting education, this theory suggests a frameworkbased
approach whereby educators first instil a detailed knowledge of the CF in an Accounting
course and thereafter present details of specific accounting transactions by building and crossreferencing
to the foundational concepts in the CF. In addition, the paradigm in Accounting courses
should also incorporate problems and experiments through which students can construct their own
knowledge, rather than being passive recipients of an educator’s teaching style. Recent literature on framework-based teaching suggests that such an approach is beneficial as it enhances lifelong
learning.
This study reported on a framework-based approach incorporated in an Accounting course and
aimed to determine students’ ability to solve complex accounting problems by referring only to the
CF, as well as to determine the factors that could influence their ability to solve the problems and
the preferred problem-solving approach of students in facing future accounting problems. In order to
address the broad aim of this study, it was divided into two sections, each to identify and analyse a
different aspect of accounting problem-solving that incorporated the CF. The study in this dissertation
focused mainly on an interpretive research paradigm. The first project had the primary objective of
determining whether students have the ability to solve complex accounting problems by using only
the CF and determining which factors could influence their ability. This was established by analysing
the content and results of an assignment administered to third-year Accounting students at a South
African university in which students were required to solve problems using only the CF. The second
project had the objective of determining the preferred future approach students will take in solving
accounting problems after they have been exposed to a framework-based assignment. This was
established through qualitative measures and augmented by a questionnaire to analyse the students’
perceptions.
The contributions of this dissertation are manifold and include, but are not limited to, the realisation
that a conceptual approach to accounting education is beneficial in Accounting courses. The results
in this study indicate that the ability of students to solve complex accounting problems by referring
only to the CF may depend on the complexity of the scenario and the students’ familiarity with the
problem. In addition, after being exposed to a framework-based assignment, students may tend to
prefer a mixed approach in solving accounting problems, which entails a combination of the concepts
in the CF and specific accounting guidance governing a particular transaction. The author also
believes that this study makes a practical contribution by providing an actual framework-based
assignment which can be used or adapted by other Accounting educators to use in similar courses,
or to help them develop similar assignments or case studies or to replicate the study.
From an educational perspective, it is recommended that Accounting educators incorporate an
emphasis on the CF in their teaching approach. As students are exposed to opportunities to exercise
their judgement using the concepts included in the CF, they will gain experience in this and be able
to exercise better judgement in future. Each time a student is exposed to a problem requiring to be
solved using the CF, or is required to make necessary judgements with regard to the CF, it will lead
to the creation of new knowledge which the student can constantly link and cross-reference to
existing knowledge and experiences. It also appears that, when students are exposed to problem-solving using the CF, it may lead to accountants adopting a more balanced approach by considering
more CF constructs in solving future accounting problems.
Although the study in this dissertation was conducted at only one university, its implications are by
no means limited to this institution. Extrapolation of results cannot be attempted due to the nature of
the research design, but the results in this study are valuable and enhance accounting education
literature in better understanding students’ problem-solving abilities and their preferred problemsolving
approach. The research is therefore valuable to any Accounting educator, as well as the
institutional bodies guiding accounting education and its syllabi. It is hoped also that some of the
findings will inspire other educational institutions to promote a framework-based approach in an
innovative manner. / MCom (Accountancy), North-West University, Potchefstroom Campus, 2015
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Technical uncertainties in and practical implications of the capitalisation of borrowing costs in South Africa / Leani van StadenVan Staden, Leani January 2011 (has links)
The International Accounting Standards Board (IASB) and the United States Financial Accounting Standards Board (FASB) have reaffirmed their commitment to accomplishing the convergence of International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Practice (US GAAP), following their March 2010 progress report. Among the standards subject to this convergence project, is IAS 23 - Borrowing Costs. Taken at face value, the convergence of IAS 23 (IFRS) and SFAS 34 (US GAAP), and looking at convergence in general, the idea is productive and beneficial. It will lead to more comparative information as it eliminates the differences. The downside, however, could very easily be that convergence might just be taking place for the sake of convergence, and that the end result might not necessarily lead to more comparative and cost effective information. When specifically considering the convergence of the two borrowing costs standards (SFAS 34 and IAS 23), it is clear that differences remain even after their convergence, and therefore it does not promote comparability. The revision of IAS 23 might actually have been more costly and less beneficial, rather than the other way around. The first article in this dissertation claims that the mandatory capitalisation of borrowing costs is more costly than not, and that the IASB did not adequately consider the cost implications in their decision to change IAS 23, as well as that the benefits obtained from the capitalisation of borrowing costs are not that noticeable in practice. Participants in this study also seemed to agree that the application of IAS 23 is fairly difficult. Delving deeper into the technical aspects of IAS 23, a number of questions also arise relating to its application. This appears to be substantiated by the findings in the second article where instances were identified where the opinions of the participants relating to, for instance, what would be regarded as a 'substantial period of time', were divided. Differences relating to the above above
viii
may lead to one person capitalising borrowing costs, while another in the same situation would not. On the upside, a few instances were identified where participants were not as divided in their views. Therefore, although there appear to be some uncertainties within IAS 23, there are fewer than one would have expected.
In summary, the revised IAS 23, in other words, the mandatory capitalisation of borrowing costs on qualifying assets, was viewed by participants as being more costly and difficult to apply than not and they felt that some technical uncertainties do exist within IAS 23. Recommendations have been made in this dissertation based on the useful information obtained. / Thesis (M.Com. (Accountancy))--North-West University, Potchefstroom Campus, 2011.
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Technical uncertainties in and practical implications of the capitalisation of borrowing costs in South Africa / Leani van StadenVan Staden, Leani January 2011 (has links)
The International Accounting Standards Board (IASB) and the United States Financial Accounting Standards Board (FASB) have reaffirmed their commitment to accomplishing the convergence of International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Practice (US GAAP), following their March 2010 progress report. Among the standards subject to this convergence project, is IAS 23 - Borrowing Costs. Taken at face value, the convergence of IAS 23 (IFRS) and SFAS 34 (US GAAP), and looking at convergence in general, the idea is productive and beneficial. It will lead to more comparative information as it eliminates the differences. The downside, however, could very easily be that convergence might just be taking place for the sake of convergence, and that the end result might not necessarily lead to more comparative and cost effective information. When specifically considering the convergence of the two borrowing costs standards (SFAS 34 and IAS 23), it is clear that differences remain even after their convergence, and therefore it does not promote comparability. The revision of IAS 23 might actually have been more costly and less beneficial, rather than the other way around. The first article in this dissertation claims that the mandatory capitalisation of borrowing costs is more costly than not, and that the IASB did not adequately consider the cost implications in their decision to change IAS 23, as well as that the benefits obtained from the capitalisation of borrowing costs are not that noticeable in practice. Participants in this study also seemed to agree that the application of IAS 23 is fairly difficult. Delving deeper into the technical aspects of IAS 23, a number of questions also arise relating to its application. This appears to be substantiated by the findings in the second article where instances were identified where the opinions of the participants relating to, for instance, what would be regarded as a 'substantial period of time', were divided. Differences relating to the above above
viii
may lead to one person capitalising borrowing costs, while another in the same situation would not. On the upside, a few instances were identified where participants were not as divided in their views. Therefore, although there appear to be some uncertainties within IAS 23, there are fewer than one would have expected.
In summary, the revised IAS 23, in other words, the mandatory capitalisation of borrowing costs on qualifying assets, was viewed by participants as being more costly and difficult to apply than not and they felt that some technical uncertainties do exist within IAS 23. Recommendations have been made in this dissertation based on the useful information obtained. / Thesis (M.Com. (Accountancy))--North-West University, Potchefstroom Campus, 2011.
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The feasibility of the statement of generally accepted accounting practice for small and medium enterprises / Daniël Petrus SchutteSchutte, Daniël Petrus January 2011 (has links)
Governments are becoming increasingly aware of SMEs as economical role players. As a result many initiatives were introduced to address the unique challenges of the SME sector. One of these initiatives was the introduction of a global accounting framework for SMEs by the International Accounting Standards Board entitled the IFRS for SMEs. South Africa became the first country to formally adopt the contents thereof as the Statement of GAAP for SMEs.
The adoption of a formal accounting framework by SMEs is however challenged by, amongst other factors, the informal nature of SMEs, limited global focus, the involvement of owner–managers and different classifications of SMEs worldwide. Owing to these unique attributes it is possible that SMEs have alternative informational needs and as a result the impact of environmental factors on the adoption of the Statement of GAAP for SMEs was considered.
Culture is considered the most important environmental factor affecting the accounting environment. The Value Survey Model of Hofstede was utilised to determine cultural dimensions of accounting students (n = 301) in South Africa and the United Kingdom (UK). The cultural dimensions were extended to the accounting values of Gray after which a distinct set of accounting values was identified for i) the adoption of formal, global and prescriptive accounting standards, ii) based on principles iii) by an informal SME sector. The results also revealed distinct cultural differences within South Africa as well as between South Africa and the UK.
Thereafter the contents of the Statement of GAAP for SMEs/IFRS for SMEs were evaluated against reporting practices of the SME sector in South Africa. Firstly, an assessment of the contents was conducted amongst SME accountants (n = 157) using a five–point Likert–type scale. Secondly, financial statements compiled by the SME sector in South Africa were analysed to determine the relevance of the contents of the illustrative financial statements contained in the Statement of GAAP for SMEs. The analysis entailed a consolidation of a sample of SME financial statements from South Africa (n = 100).
The study revealed that the accounting environment of the SME sector is affected by a wide range of environmental and related factors. These factors were summarised and discussed and recommendations for future research were made. / Thesis (Ph.D. (Accounting))--North-West University, Potchefstroom Campus, 2011.
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The feasibility of the statement of generally accepted accounting practice for small and medium enterprises / Daniël Petrus SchutteSchutte, Daniël Petrus January 2011 (has links)
Governments are becoming increasingly aware of SMEs as economical role players. As a result many initiatives were introduced to address the unique challenges of the SME sector. One of these initiatives was the introduction of a global accounting framework for SMEs by the International Accounting Standards Board entitled the IFRS for SMEs. South Africa became the first country to formally adopt the contents thereof as the Statement of GAAP for SMEs.
The adoption of a formal accounting framework by SMEs is however challenged by, amongst other factors, the informal nature of SMEs, limited global focus, the involvement of owner–managers and different classifications of SMEs worldwide. Owing to these unique attributes it is possible that SMEs have alternative informational needs and as a result the impact of environmental factors on the adoption of the Statement of GAAP for SMEs was considered.
Culture is considered the most important environmental factor affecting the accounting environment. The Value Survey Model of Hofstede was utilised to determine cultural dimensions of accounting students (n = 301) in South Africa and the United Kingdom (UK). The cultural dimensions were extended to the accounting values of Gray after which a distinct set of accounting values was identified for i) the adoption of formal, global and prescriptive accounting standards, ii) based on principles iii) by an informal SME sector. The results also revealed distinct cultural differences within South Africa as well as between South Africa and the UK.
Thereafter the contents of the Statement of GAAP for SMEs/IFRS for SMEs were evaluated against reporting practices of the SME sector in South Africa. Firstly, an assessment of the contents was conducted amongst SME accountants (n = 157) using a five–point Likert–type scale. Secondly, financial statements compiled by the SME sector in South Africa were analysed to determine the relevance of the contents of the illustrative financial statements contained in the Statement of GAAP for SMEs. The analysis entailed a consolidation of a sample of SME financial statements from South Africa (n = 100).
The study revealed that the accounting environment of the SME sector is affected by a wide range of environmental and related factors. These factors were summarised and discussed and recommendations for future research were made. / Thesis (Ph.D. (Accounting))--North-West University, Potchefstroom Campus, 2011.
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