1. 1 Freeing up Time for Critical Thinking Freeing up Time for Critical Thinking Applications for Introductory Financial Accounting Course G. Peter and Carolyn R. Wilson University of British Columbia Okanagan June 6, 2012 © 1991-2012 NavAcc LLC, G. Peter & Carolyn R. Wilson

2. 2Introduction Challenges  How do we put 20 pounds of sugar into a 5 pound bag?  On the one hand, we are increasingly held accountable for ensuring students learn more and more vocabulary, procedures, processes, skills, and contextual details.  On the other hand, reporting scandals underscore our responsibility to prepare students to think more critically about ethical considerations and the relevance, reliability and consistency of reported numbers when preparing, auditing, or using them.  How do we accommodate students’ differences?  Students increasingly come to us with diverse experiences, aptitudes, aspirations, and learning styles.

3. 3Introduction How do we free up class time for critical thinking?  Identify resources, incentives and strategies  Take advantage of technology  Utilize frameworks  Conceptual framework  Application framework  Learning framework

4. 4 Applications Framework Well-known corporations’ annual reports Fictitious companies with similar financial statements Focuses on how accounting reports are affected by and affect three intertwined decisions Conceptual Framework You are an outsider trying to determine the decisions behind the numbers You are an insider making the decisions behind the numbers Learning Framework Content to meet diverse aptitudes, experiences, and aspirations Maps to navigate content Frameworks Summary

5. 5Agenda  Introduction  Hands-on tour of intro financial accounting course  Session 2: Framing record keeping and reporting  Session 1: Measurement judgments: Students’ balance sheets  Session 5: Income statements & OEC Map: Connecting statements  Session 6: OEC Map: Revenue & expense recognition  Session 4: Analyzing balance sheets across industries  Session 3: Risks & rewards: Mall exercise  Session 11: Statement of cash flows, SCF Entry Map, & R&R Map  Session 27: Big accounting picture – Accounting Decisions Map