Basic Financial Accounting Research Articles

Pemahaman Pencatatan Akuntansi pada Pelaku UMKM di Tangerang Selatan

This research reveals the financial records of culinary business MSMEs in the South Tangerang area by tracing how they carry out financial records in their businesses which are still running today. This research helps to find out how research subjects interact in managing their finances, helps understand the views, attitudes and behavior of MSMEs towards financial reports for the sustainability of their business. The Status Quo theory is used by researchers to understand and analyze the situation of MSME actors regarding accounting understanding. Data was collected through semi-structured interviews with 20 MSME actors in the culinary sector and then analyzed using a qualitative approach. The research findings show that the majority of MSMEs have not recorded their finances optimally. They still use traditional methods such as recording sales manually and do not meet financial accounting standards (SAK EMKM). The research recommendation is that MSME players need to improve their ability to carry out good and correct financial records for business continuity. The role of government and academics is needed to provide understanding and knowledge for MSMEs in the South Tangerang region, this can take the form of training on basic financial accounting, and implementing a simple recording system with the help of simple software

Development Of Excel-Based (Nawasena) Basic Financial Accounting Learning Media To Improve Learning Outcomes In The Accounting Cycle

The problem in this study is the low student learning outcomes on financial accounting cycle material. The type of research was research and development with the ADDIE model. With an experimental trial design using a pre-test - post-test control group design model. The feasibility of the product was tested by media experts, learning practitioners, namely teachers, and media users, namely students. The media was tested on the research subjects, namely students of class X AKL 2 SMK Muhammadiyah Dukun. The data collection instruments used were interview guidelines, expert validation questionnaires, teacher response questionnaires, student response questionnaires, and financial transaction questions. The results of the study show: (1) Basic Financial Accounting Learning Media Product "Nawasena" has been successfully developed to improve student learning outcomes in the accounting cycle; (2) "Nawasena" learning media is assessed as feasible by media experts with a score of 3.8; practitioner teachers 3.6; and students 3.61; (3) Learning media can improve student learning outcomes seen from the difference in gain score results between the control group 0.63 and the experiment which is 0.73.

Bridging The Gap Between Basic Financial Accounting Knowledge In High School And Higher Education (College)

From observing the phenomenon of the gap between basic financial accounting learning materials in the middle-high level of education and high level of education, the team of lecturers from the accounting study program have been motivated as follows: Unpar seeks to equalize the knowledge of the two educational strata by using sharing method. The aim is to bridge the gap in accounting material in high school with basic financial accounting material in collegeThis research with analytical descriptive method uses a sample of high school teachers who are willing to participate in this sharing program through a webinar with a zoom meeting platform held in 2020 and 2021. The activity was attended by 14 SMA and SMK with eighteen teachers and one hundred and twenty eight students. Materials regarding adjustment journals and plant and intangible assets have been taught according to the teacher's request. The material is presented in the form of a two-way discussion so that the facilitator and participants can discuss in depth, while the activity for students is an introduction to the accounting profession.The knowledge enrichment of accounting material related to today's business practices that can be applied in teaching and learning activities in high school is recognized by the teachers as very useful and accompanied with high enthusiasm during the sharing. In turn, their high school graduates understand this material better and can take the same courses in college better. This will form the building of accounting knowledge in students in the future.

PROJECT-BASED LEARNING PADA RANCANGAN PENGELOLAAN PERSEDIAAN DI TFME POLITEKNIK NEGERI BATAM

The purpose of this study is to provide a design for inventory management at the Teaching Factory Manufacture Electronics (TFME) Batam State Polytechnic with a Project-Based Learning (PBL) review. In addition, this study also applies inventory recording in the second basic financial accounting course (AKD2). This study uses qualitative methods with exploratory and descriptive research classifications. The method of collecting data in this research is by direct interviews with the informants. Researchers also made direct observations in the field and collected the necessary data from the main data sources. The results of this study indicate the importance of managing inventory in TFME, one way of managing inventory is by making an inventory card. The inventory card design that has been made is expected to be able to control inventory and the inventory card is designed to be very easy to use, for the use of an inventory card, consistency is needed from all parties involved 

Development of E-ATCM (Accounting Trading Company Module) as an Interactive Digital Learning Media During the Covid-19 Pandemic

This study aims to analyze the feasibility of implementing E-ATCM (Accounting Trading Company Module) in the Basic Financial Accounting Course for Economic Education during the Covid-19 Pandemic. The research method uses Research and Development, which is limited to research procedures to product feasibility tests. The instrument used in the E-ATCM feasibility test is in the form of a questionnaire, which consists of media validation tests by experts, and field tests by students. The data analysis technique was carried out with qualitative descriptive data analysis to determine improvement decisions in the development of E-ATCM. From this research, it shows that the E-ATCM media is suitable for use as a learning media for Basic Financial Accounting during the Covid-19 Pandemic. The value of the feasibility of learning media based on material experts is 94.64%, media experts 93%, linguists 90.65%, and practical experts 94.85%. The percentage of material, media, language, and practical experts is in very decent criteria. The next stage is a limited trial with a value of 85.94% on a very feasible criterion and a broad trial with a value of 90.98% on a very feasible criterion. So it can be concluded that the E-ATCM media is suitable for learning in Basic Financial Accounting courses.

Preliminary Study on Educational Game-based Learning Approach in Financial Accounting Course: Bicycle Accounting Classification Game

The study has designed an educational game-based learning through the introduction of an interactive game called “bicycle accounting classification game”. The game was created to stimulate interest in learning basic financial accounting courses that are normally portrayed as a serious subject. The bicycle accounting classification game tool kit has been developed as a learning and teaching aid to enable students to collaborate and engage in the financial accounting course. The main purpose of the study is to identify the effectiveness of the tool as a mechanism to enhance students’ learning motivation investigated through individual psychological needs of autonomy, competence and relatedness in a financial accounting course. The sampling was implemented to 4 accounting lecturers and one computer science lecturer in a small group tryout and 30 non accounting students in field tryout. Questionnaires were used for data collection and analyzed using quantitative methods. From the experimental results, it is discovered that the bicycle accounting classification game has contributed to the positive learning motivation, in terms of promoting their learning participation and improving their learning excitement and understanding in the financial accounting course given that knowledge organizing, and sharing is embedded in the collaborative gaming environment.

Integrating Experiential Learning in an Introductory Financial Accounting Course to Enhance Learning: The FIFA Approach

The Fieldwork Introductory Financial Accounting [FIFA] approach was introduced to resolve the problem of lack of understanding of basic financial accounting among accounting students with no background in accounting for the Financial Accounting 1 (FAR 110) course. The FIFA approach stemmed from the initiative of the teaching lecturers to enhance students' understanding of the most significant and elementary accounting knowledge: (i) identification and classification of accounting elements (assets, liabilities, revenues, expenses & equities), and (ii) sources of documents. The main purpose of this paper is to determine the effectiveness of the FIFA approach in enhancing students' understanding throughout an introductory financial accounting course. A total of 79 students participated in this study, and were divided into 2 groups; the treatment group and the control group. The experimental design using a non-randomised control group pre-test-post-test design was utilised. This study revealed that the FIFA approach significantly enhanced the students' understanding of the most significant elementary accounting knowledge, which comprises identification and classification of accounting elements and sources of documents. The findings are expected to benefit higher-education institutions, particularly accounting academics and curriculum coordinators when performing Accounting-curriculum revision so as to embed the FIFA approach in their introductory accounting courses. Moreover, the results of this study are expected to encourage countless educators to incorporate more learning activities associated with the active-learning approach and pedagogies beyond the four walls, which could boost students' knowledge and skills. The findings of this study also provide evidence on how real-world exposure is vital in order to facilitate accounting knowledge and understanding.

Review and Prospect of China Management Accounting in the Information Age

With the advent of the information age, big data, “Internet +", “intelligence +", “cloud computing” and other technological methods emerge in endlessly, the basic financial accounting work will gradually be replaced by intelligent robots, and this is a great opportunity to promote the development and transformation of management accounting. Management accounting, as a product of the combination of management and accounting, requires a large amount of information and data in order to play a specific role. In the context of the information era, management accounting can rely on the assistance of scientific and technological means to integrate and analyze enterprise information, and further promote enterprise decision-making, control, investment, etc. To serve the overall development situation, management accounting is promising. This article reviews the development of management accounting since the founding of the People’s Republic of China and summarizes the problems existing in the development process. On this basis, it provides guiding opinions and suggestions for further improving China’s management accounting.

Addressing the AICPA core competencies through the usage of the monopoly™ board game

Purpose The purpose of this paper is to examine the learning outcomes of students enrolled in an introductory financial accounting course through their experience of playing the Monopoly™ board game and map those outcomes to a selected number of individual competency types addressed in the AICPA Core Competency Framework. Design/methodology/approach A longitudinal qualitative analysis was performed to analyze self-reported learning outcomes collected from undergraduate students enrolled in an introductory financial accounting course. Content analysis and participant observations were utilized to inform the analysis process and derive research findings. Findings The findings reveal a connection between the learning outcomes and a selected number of individual competency types addressed in the AICPA Framework. The findings also reemphasize the importance of utilizing some of the basic functions and features of Excel to augment foundational financial accounting knowledge and enhance professional skills. Originality/value Although the use of board games in accounting education was examined in prior research, this paper provides an empirical evidence on the alignment of self-reported learning outcomes of a popular board game to a notable profession-driven framework. In addition to bridging a potential gap between the accounting education and profession, this study informs academics as to the implications of engaging students in a class activity that applies basic financial accounting and computer knowledge.

The Basic Financial Accounting Knowledge: A Panacea for Successful Entrepreneurship Study, among Postgraduate Students in the University of Ibadan

Entrepreneurship education has the edict to furnish the youth with useful and practical knowledge, Skills (Guatam and Singh, 2015) and focusing on potentials (financial skill, business knowledge, career exploration, community awareness, good relationship and education) that will increase business and entrepreneurial potentials in other to shape up their disposition, philosophy and perception. The financial skill is what the majority of the current students is lacking due to educational background, as the centre is still admitting graduates of different disciples hence, depleting their managerial, academic and entrepreneurial strength. The paper objectives are to; examine the importance of financial accounting knowledge to the entrepreneurial pursuit of the students. Ascertain the effect of financial accounting knowledge on entrepreneurial activities of students at the Centre. And to assess the student’s level of interest in making financial accounting as a required course. The population consists of the second, third and fourth set students of Centre for Entrepreneurship and Innovation, with 112 as sample size. The instrument was administered via Whatsapp groups and physical distribution. The results revealed that there is a significant relationship between the two hypotheses. It insinuates that financial accounting is important to the entrepreneurial pursuit of the students. Knowledge of financial accounting to be acquired will impact and improve the entrepreneurial activities of students together with other potential skills they have been exposed to. Lastly, the students were firm on making financial accounting a required/compulsory course i.e level of interest in making financial accounting and related courses is high.

Analyzing Two Investments—An Instructional Case to Introduce Basic Financial Accounting Concepts

ABSTRACT This case introduces basic financial accounting concepts to graduate business students in an accounting orientation session (i.e., “boot camp”). Students assume they have invested in two cupcake businesses in Paris and they now want to determine which business performed best. Instructors can use this case, which provides students an opportunity to compare two businesses, to achieve several learning objectives including those related to accrual accounting (i.e., when to record transactions), the legal aspects of business (i.e., company structure, stock ownership, international accounting), and the use of estimates in financial reporting (i.e., depreciation, bad debts). This case also introduces students to the three basic financial statements (i.e., balance sheet, income statement, statement of cash flows), and the evaluation of financial results (i.e., net income versus cash flow, ratios). We have found that this simple, straightforward case helps students feel more confident when working with basic financial accounting concepts.

AFP Innova: competing in a tender for new affiliates

Subject area The concepts of customer lifetime value (CLV) and customer equity (CE). Study level/applicability BA, MBA, MSc courses: customer equity, marketing metrics, marketing plan, marketing research. Because students are asked to complete a customer lifetime value analysis based on a range of financial and non-financial data, students will need at least a modest level of proficiency in dealing with a few basic financial accounting concepts. Case overview In Chile, a law passed in 2008 introduced a bidding process to be held every 24 months in the pension industry. The tender mechanism was introduced as part of a reform aimed at reducing the commissions charged by pension fund administrators and at making it easier for new players to enter the market. In early 2009, Daniel Ugarte wondered if it was finally the right time for his firm to enter the pension industry. Ugarte was asked by the board to help chart a direction for the firm. The winning criterion was the lowest management fee (commission) paid by the affiliates. The main focus of the case is a quantitative assignment that asks students to calculate how customer lifetime value (CLV) and customer equity (CE) would be affected by the commission offered. Expected learning outcomes These include: understanding the concepts of customer lifetime value (CLV) and customer equity (CE) and the importance of maximizing a customer's lifetime value for the firm by calculating the CLV and the CE based on a combination of financial and non-financial data. Supplementary materials Teaching notes are available. Consult the librarian for access.

Using The Monopoly Board Game As An Efficient Tool In Introductory Financial Accounting Instruction

This paper discusses the use of the Monopoly board game as a tool to contrast the concept of income from an economic perspective with the financial accounting (GAAP) concept of income. This approach is used in a principles of accounting course to make more efficient use of time in an environment where only one academic term is devoted to presenting basic financial accounting concepts. The use of an engaging and unusual medium early in the principles course helps students build confidence and provides positive reinforcement of understanding in a course that undergraduate business students do not always enjoy. The board game medium allows for a simple presentation of some of the differences in economic and accounting definitions of income. Further, it provides a familiar economic simulation of business activity that saves time in demonstrating the value of accounting information from the users perspective.

Business knowledge in surgeons

Background Surgeons and residents in training receive little, if any, formal education in the economic side of clinical practice during medical school or residency. As medical professionals face shrinking reimbursement, loss of control over health care decisions, and limited resources, surgical specialties must reevaluate the need to teach their members business survival skills. Before designing business related-teaching modules, educators must know the exact gaps in knowledge that exist among surgeons. Methods This article reports a survey of 133 surgeons in the Midwest who were asked to rate their knowledge base in 11 business topics relevant to the practice of medicine. Results The survey showed that the average surgeon perceives himself or herself to be poorly equipped to understand basic financial accounting principles, financial markets, economics of health care, tools for evaluating purchases, marketing, budgets, antitrust and fraud and abuse regulations, and risk and return on investments. Conclusions Armed with this data, teaching faculty, health care systems, and medical specialty societies should design business education seminars to better position surgical specialists and trainees to communicate with insurers, hospital administrators, health care organizations, and their own personal financial advisors.

Assessing Students' Accounting Knowledge: A Structural Approach

This study explored a structural approach to assessing students' accounting knowledge. An “expertise” knowledge structure of basic financial accounting concepts was constructed, and students' knowledge structures of the same concepts were then compared with the “expertise” knowledge structure. Data were collected from respondents at a large public university to demonstrate the procedure and method of analysis. The procedure has the potential for providing accounting programs with valuable information regarding their students' knowledge after completing a course or program of study.

THE DEVELOPMENT OF GOVERNMENT ACCOUNTING: A CONTENT ANALYSIS OF THE JOURNAL OF ACCOUNTANCY, 1905 TO 1989

This content analysis of Journal of Accountancy items relating to governmental accounting spans a period of nine decades which included two world wars, a severe economic depression, and conflicts in Korea and Vietnam, These decades marked the departure from simpler local government accounting concerns alone to national governmental issues and the call for consistent accountability among the myriad federal agencies and programs. Considering the growth of the public sector, its importance to all other spheres of American life, the complexity of governmental financial administration, and the events of the times, governmental accounting received only a modest amount of attention in the AICPA's journal — probably less than five percent of published content over the period. This limited coverage suggests a minimal amount of attention to governmental accounting matters within the profession which may be due in part to the fact that governmental accounting, until recently, was not a principal component of the profession's scope of services. From a content perspective, the Journal did a more than adequate job of keeping its readers abreast of current developments through short news items. From a substantive viewpoint, however, the major papers were often reactive rather than forward-looking, or calling for positive change. Perhaps in part because of these realities, today, three quarters of a century after some of the early papers were published on related issues, the GASB continues to struggle with basic financial accounting and reporting issues for state and local government.