Evaluating Financial Results at Graphic Apparel Corporation (GAC): The Impact of Accounting Policies

2014 ◽  
Vol 30 (1) ◽  
pp. 1-12
Author(s):  
Fred Phillips
Keyword(s):  
Critical Thinking ◽  
Financial Reporting ◽  
Thinking Skills ◽  
Critical Thinking Skills ◽  
Financial Accounting ◽  
Financial Statement ◽  
Reporting Practices ◽  
Accounting Courses ◽  
The Impact

ABSTRACT This case requires students to evaluate financial reporting practices adopted by a small apparel company. The company's owner/manager has recently taken the business in a new direction, and is asking for help in determining whether the company's existing financial accounting policies continue to be appropriate and how alternative policies would affect the reported financial results. This case will require students to apply knowledge of financial accounting and financial statement ratios to judge the appropriateness of selected accounting policies. This case is designed for use in introductory and intermediate financial accounting courses that aim to develop students' critical thinking skills.

Second Round Electronics: A Case for Critical Thinking

2013 ◽  
Vol 28 (4) ◽  
pp. 983-989 ◽  
Author(s):  
Nathalie Johnstone ◽  
Brandy Mackintosh ◽  
Fred Phillips
Keyword(s):  
Critical Thinking ◽  
Financial Reporting ◽  
Emerging Technologies ◽  
Financial Statements ◽  
Thinking Skills ◽  
Critical Thinking Skills ◽  
Financial Accounting ◽  
Class Discussion ◽  
For Profit ◽  
Writing Assignment

ABSTRACT This instructional case requires students to provide advice to a client who is currently the sole owner of a for-profit company that reconditions and sells used electronics. The client is considering purchasing a similar company with the vision of expanding into the sales and service of emerging technologies. The target company's unaudited financial statements contain questionable accounting choices and judgments that appear to enable the company to meet external financial reporting constraints. In their role as financial advisers, students are expected to use critical thinking skills to identify and evaluate questionable choices in the target company's financial statements. This case is suitable for use in introductory and intermediate financial accounting as well as introductory auditing and assurance courses, and can be used as a context for in-class discussion, as a basis for exam questions, and/or as a writing assignment. Assessment rubrics and Teaching Notes accompany the case for use by instructors.

How Adjusting Entries Affect the Quality of Financial Reporting: The Case of Frosty Co.

2012 ◽  
Vol 27 (2) ◽  
pp. 493-524 ◽  
Author(s):  
Jason C. Porter
Keyword(s):  
Financial Reporting ◽  
Stock Price ◽  
Financial Statements ◽  
Thinking Skills ◽  
Critical Thinking Skills ◽  
Financial Accounting ◽  
Accounting Students ◽  
Financial Position ◽  
Accounting Scandals ◽  
Accounting Courses

ABSTRACT Recent accounting scandals have emphasized the need to think beyond debits and credits. Accounting students must understand the effects of transactions on a company's financial position, as well as the pressures and incentives they will someday face to misrepresent that position. This case introduces students in intermediate financial accounting courses to both of these important objectives. First, the case improves students' critical thinking skills in accounting by allowing them to determine if various correcting entries should be made, and what the effects of those transactions will be on the company's financial statements. Second, the case improves students' ability to evaluate ethical consequences by introducing them to conflicting incentives regarding those corrections: the obligation to provide investors with high-quality financial statements that fairly present the company's financial position versus the pressure to maintain a high stock price for investors. The case may be completed using either U.S. GAAP or IFRS.

Small Firm Audit Partner Hiring Crisis: A Role Play for Critical Thinking and Negotiation Skills

2015 ◽  
Vol 30 (4) ◽  
pp. 275-296 ◽  
Author(s):  
George R. Aldhizer
Keyword(s):  
Critical Thinking ◽  
Small Firm ◽  
Role Play ◽  
Terminally Ill ◽  
Thinking Skills ◽  
Critical Thinking Skills ◽  
Planning Stage ◽  
Skill Sets ◽  
Final Agreement ◽  
The Impact

ABSTRACT This role play requires students to consider the complexities of a small CPA firm urgently attempting to replace the unique industry knowledge and experience possessed by a terminally ill audit partner. In this role play, students assume the position of either an existing partner or a former partner who is considering rejoining the firm. This role play includes two sections. First, in the planning stage, students brainstorm mutually equivalent options that satisfy their critical financial and nonfinancial interests to address the problem of replacing the terminally ill partner in their respective existing partner and former partner teams. Second, students engage in a “table” negotiation with their assigned counterpart to reach an amicable agreement to this firm crisis and participate in a debriefing session and prepare a debriefing document. The small firm context provides a unique opportunity to make contributions to the existing accounting and auditing literature related to enhancing students' critical thinking and negotiation skills. Distinctive small firm role play elements that should enhance critical thinking and negotiation skills include considering contingent agreements that dovetail differences in future legal liability forecasts, and dovetailing differences to take advantage of complementary skill sets to mitigate industry-specific auditor detection risks and related business risks.1 Critical thinking skills also should be strengthened through negotiating a package of interests and related options including the impact of various tradeoffs that are not fully known until the table negotiation commences so that the final agreement does not exceed the firm's non-negotiable budgetary constraints.

scholarly journals Enhancing Learning Through Reflection– A Case Study of SEEU

SEEU Review ◽  
2017 ◽  
Vol 12 (1) ◽  
pp. 53-68 ◽  
Author(s):  
Brikena Xhaferi ◽  
Gezim Xhaferi
Keyword(s):  
Critical Thinking ◽  
Learning Strategies ◽  
Thinking Skills ◽  
Careful Consideration ◽  
Critical Thinking Skills ◽  
Good Tool ◽  
Self Reflection ◽  
Positive Attitudes ◽  
Study Results ◽  
The Impact

Abstract Learning through reflection is one of the most interesting experiences that students might have. It is considered a very good tool for self-assessing learning. It is believed that “teachers who promote reflective classrooms ensure that students are fully engaged in the process of making meaning” (Costa and Kallick, 2008, para.5). Dewey (1991) was among the first researchers who based his work and research on the positive roles that reflection plays in fostering self-reflection and critical thinking. He has defined it as an active, persistent and careful consideration of any belief. Reflections give students opportunities to think and reflect about their learning and note down the obstacles they might face during this process. The present study aims to investigate the impact of journal writing in promoting critical-thinking skills, and its impact on enhancing learning. The study uses two instruments, a student refection journal and an interview. Also, Marzano’s New Taxonomy of Educational Objectives developed in 2000 was used in the third phase of the study. This Taxonomy contains Three Systems: the Self-system, the Metacognitive system and the Cognitive system. The overall study results show that reflection journals help students to become more independent learners, reflect on their learning experiences and identify the most useful learning strategies. Most importantly, all study participants hold positive attitudes towards reflection and they consider it as a valuable tool which can increase learning.

scholarly journals The Impact of Online Mentoring in Implementing RADEC Learning to the Elementary School Teachers’ Competence in Training Students’ Critical Thinking Skills: A Case Study During COVID-19 Pandemic

2021 ◽  
Vol 10 (3) ◽  
pp. 346-356
Author(s):  
H. Lestari ◽  
W. Sopandi ◽  
U. S. Sa'ud ◽  
B. Musthafa ◽  
D. Budimansyah ◽  
...  
Keyword(s):  
Elementary School ◽  
Critical Thinking ◽  
Elementary School Teachers ◽  
Thinking Skills ◽  
Learning Model ◽  
Critical Thinking Skills ◽  
Online Mentoring ◽  
School Teachers ◽  
Knowledge And Skills ◽  
The Impact

This study aims to describe the impact of online mentoring activities in implementing the RADEC (Read, Answer, Discuss, Explain, and Create) learning model on the competence of elementary school teachers in training students’ critical thinking skills. The method was a pre-experiment with a one-group pretest-posttest design involving 25 elementary school teachers in Indonesia. The teachers received online mentoring in implementing RADEC learning model. The research instrument was a questionnaire to measure teachers’ knowledge and skills in training critical thinking. The data processing technique was carried out by calculating the mean and the percentage of each item to obtain a description of the teachers’ knowledge and skills in training students’ critical thinking before and after treatment. The data were analyzed inferentially with a paired sample t-test using SPSS version 22 software to see the impact of the treatment on teachers’ competence in training critical thinking. Based on the results of the paired-sample t-test, for both the knowledge and skills aspects, the probability value (sig) was 0.00 <0.05. This result means that there was a significant difference in the knowledge and skills of teachers in training students’ critical thinking skills before and after mentoring activities. The study results indicate that the online mentoring in implementing the RADEC learning model improved teachers’ competence in training elementary school students’ critical thinking skills. 

scholarly journals Guided Inquiry Lab: Its Effect to Improve Student’s Critical Thinking on Mechanics

2020 ◽  
Vol 9 (1) ◽  
pp. 87-97
Author(s):  
Ade Febri ◽  
Sajidan Sajidan ◽  
Sarwanto Sarwanto ◽  
Dewanto Harjunowibowo
Keyword(s):  
Critical Thinking ◽  
Junior High School ◽  
Creative Thinking ◽  
Thinking Skills ◽  
Critical Thinking Skills ◽  
Average Score ◽  
Guided Inquiry ◽  
Central Java ◽  
Before And After ◽  
The Impact

Learning trends in the 21st-century require students to have the ability to sort appropriate information from certain sources. To do this, students must have critical thinking skills. One of the learning models that can facilitate students to think critically is a guided-inquiry lab. Thus, the purpose of this study was to quantitatively analyze the impact of the implementation of the guided-inquiry lab model on students' critical thinking skills on mechanics material. A pre-experimental method employing one group pretest-posttest only design was applied to obtain students' critical thinking skills data before and after the implementation of the guided-inquiry lab model. A total of 32 students from a junior high school in the city of Karanganyar, Central Java, were involved as the samples in this study. The data obtained were then analyzed using N-gain calculations. Based on the data analysis, there are 81.25% of students have medium creative thinking skills after being taught with a guided-inquiry lab, meaning there is an increase in the average score of students after being taught using a guided-inquiry lab model. It can be concluded that the implementation of the guided-inquiry lab model is effective to improve students' critical thinking skills

Baywatch International: A Case Linking Financial-Reporting, Business, and User Decisions

2000 ◽  
Vol 15 (4) ◽  
pp. 605-633 ◽  
Author(s):  
Fred Phillips ◽  
Kevin Morris ◽  
Kristina Zvinakis
Keyword(s):  
Earnings Management ◽  
Financial Reporting ◽  
Financial Accounting ◽  
Financial Statement ◽  
Technical Knowledge ◽  
Capital Asset ◽  
Financial Statement Analysis ◽  
Accounting Courses ◽  
Reporting Decisions ◽  
Asset Depreciation

Baywatch International is a hypothetical company that manufactures figure-enhancement products—a rapidly growing industry that is featured frequently in Fortune and on CNNfn. The executives at Baywatch are making financial-reporting decisions pertaining to the company's receivables, inventories, loss contingencies, and capital asset depreciation. These decisions require technical knowledge of fundamental topics covered in introductory financial accounting courses, as well as an appreciation for relationships among financial-reporting, business, and user decisions. Consideration of the implications for financial statement analysis, earnings management, and financial-reporting ethics also is encouraged.

scholarly journals Teaching strategies and outcome assessments targeting critical thinking in bachelor nursing students: a scoping review protocol

BMJ Open ◽  
2020 ◽  
Vol 10 (1) ◽  
pp. e033214
Author(s):  
Frida Westerdahl ◽  
Elisabeth Carlson ◽  
Anne Wennick ◽  
Gunilla Borglin
Keyword(s):  
Critical Thinking ◽  
Nursing Students ◽  
Teaching Strategies ◽  
Scoping Review ◽  
Thinking Skills ◽  
Critical Thinking Skills ◽  
Ethical Review ◽  
Sensitive Information ◽  
Design Data ◽  
The Impact

IntroductionApplying critical thinking is essential for nursing students both in an academic and clinical context. Particularly, as critical thinking is a vital part of nurses’ everyday problem-solving and decision-making processes. Therefore, regardless of the topic taught or the setting in which it is taught, it requires teaching strategies especially targeting students’ critical thinking skills and abilities. One challenge with the latter is the difficulties to assess and evaluate the impact of such teaching strategies on the students’ critical thinking disposition. Hence, our objective will be to review published literature on; existing teaching strategies and outcomes assessments targeting nursing students’ critical thinking skills and abilities.Methods and analysisOur scoping review will be conducted in accordance with Arksey and O’Malley’s framework for scoping studies. Search strategies will be developed in cooperation with an experienced librarian, and adjusted to each individual database for example, CINAHL, PubMed, PsycINFO, ERIC and ERC. A preliminary search in CINAHL was conducted on the 17thof July 2019. Peer-reviewed published studies conducted with a qualitative, quantitative or mixed method design and focussing our objectives, will be eligible for inclusion. Included studies will be quality assessed in accordance with their study design. Data will be charted using a standardised extraction form. The qualitative data will be presented through a thematic analyses, and the quantitative data by descriptive numerical analysis. Lastly, nurse educators and nursing students will be consulted for validation of the findings from the scoping review.Ethics and disseminationUnder the Swedish Ethical Review Act (2003:460) this study does not need ethical clearance by a Regional Ethical Review Authority as it not includes any primary empirical data on biological material or sensitive information. The findings will be used to inform the design of a future study aiming to develop an, and subsequently evaluate it, educational intervention targeting teaching strategies focussing on nursing students’ critical thinking skills and abilities.

Optimizing K-14 Instruction to Infuse 21st Century Skills

2013 ◽  
Vol 1583 ◽  
Author(s):  
Deborah Day ◽  
Cindy Guo ◽  
Nicole Ferrari ◽  
Heather Edgecumbe ◽  
Christine Broadbridge
Keyword(s):  
Critical Thinking ◽  
21St Century ◽  
Self Efficacy ◽  
21St Century Skills ◽  
Thinking Skills ◽  
Critical Thinking Skills ◽  
Technological Fluency ◽  
Subject Areas ◽  
K 12 ◽  
The Impact

ABSTRACTThis multi-phased study investigates the learning outcomes of courses taught in the K-14 classroom. Specifically, the methods and practices teachers use to develop and encourage 21st Century Skills including critical thinking skills and technological fluency in all subject areas, STEM and non-STEM related, are of great interest. Currently, these skills are in high demand in fields which develop advanced materials and are the backbone of the National Academiesdeveloped Frameworks for K-12 Science Education. Phase I participants in this study included high school and college educators while Phase II of the study will involve K-14 students. In this study, educators were asked to rate their teaching self-efficacy in two primary areas: critical thinking skills and technological fluency. This included questions related to components in their current curriculum as well as methods of assessment [e.g., rubrics]. The instrument created to measure self-efficacy was based on a modified ‘Science Teaching Efficacy Belief Instrument' (STEBI). All participants were from Connecticut. Results indicate that both STEM and non-STEM related subject areas offer an equally rich array of opportunities to effectively teach critical thinking and technological fluency at a variety of educational levels. The impact of Professional Development on teacher self-efficacy was of particular importance, especially in K-12 education.

scholarly journals The Impact of Using the First and Third Parts of the Cort Program on the Development of Critical Thinking for Talented Students in Tafila Governorate

2019 ◽  
Vol 9 (3) ◽  
pp. 72
Author(s):  
Dr. Jehad .Abed Rabbo
Keyword(s):  
Critical Thinking ◽  
Educational Level ◽  
Thinking Skills ◽  
Female Students ◽  
Critical Thinking Skills ◽  
Control Group ◽  
Teacher Competencies ◽  
Talented Students ◽  
The Impact ◽  
Experimental Group

This study aims to examine the impact of using some of the skills of the (CoRT) program on the development of critical thinking skills among a sample of talented students in King Abdullah II School of Excellence in Tafila Governorate. The sample consisted of 60 male and female students randomly selected. They were divided into two groups: an experimental group that consisted of 30 students exposed to the acquisition of the skills of the CoRT program and the control group that consisted of 30 students who did not study the program. The Watson Glaser critical thinking test was also applied. The results shows a statistically significant effect, at (α≤ 0.05), in improving the critical thinking skills of the students of the experimental group and shows a statistically significant effect on the test of critical thinking skills due to the variable of educational level and for the favor of the ninth grade. The study also reveals that there were no statistically significant differences in the test of critical thinking skills in relation to the the gender variable. The researcher recommends developing the teacher competencies to teach the skills of thinking in general and critical thinking skills, in particular, through the conducting of courses, seminars, and workshops in the CoRT program.

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