4 videos covering each of Facebook’s condensed and adapted financial statements

Recently, I created some videos about each of the four basic financial statements, using Facebook’s financial statements as the data source for the statements. I condensed and adapted each of Facebook’s financial statements into a shorter, more digestible length for the introductory accounting student. Here are the four videos and the related links: Video topic […]

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How will the reservation, purchase agreement, and the delivery of a Model 3 impact Tesla’s financial statements?

Since 2016, Tesla has been accepting reservations for its Model 3 car, which is a mid-size all-electric four-door sedan. The long-range battery Model 3 (310 miles on a single charge) starts at $50,000 while the standard range battery Model 3 (220 miles) starts at $35,000. Production cannot keep up with demand for this model. Tesla […]

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Cash basis vs accrual accounting example: A quick video

In introductory accounting, students can struggle to understand the difference between cash basis accounting and accrual basis accounting. I created a simple example that highlights the difference between the two basis of accounting. I created a short video (3:30 min.) of this example. Feel free to share the video with your students – the YouTube link […]

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Does each Subway $5 Footlong cost the franchisee more than $5?

Subway, the fast food restaurant franchise, recently announced it is bringing back the “$5 Footlong” promotion. Hundreds of Subway franchise owners are protesting the promotion, saying that they cannot afford to sell the footlong sub sandwiches for $5. Assume that the costs related to a Subway footlong and a Subway franchisee include the following: Cost […]

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Wait! Why is the bank debiting my account to decrease it? Isn’t that backwards?

Debit-credit rules are challenging for students. Students’ exposure to debits-credits when they arrive in introductory accounting may be limited to what they see on their bank statements – and those debits-credits are seemingly backwards. I recorded a short video (2:36 min) to explain why debits and credits seem to be backwards on bank statements. You […]

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How would 3M account for the contingent liability arising from an environmental lawsuit?

The State of Minnesota is suing 3M (NYSE:MMM) for $5 billion in damages, alleging that 3M dumped chemicals it produced into landfills from the 1940s through the 1970s. The State asserts that those chemicals have now leached into local groundwater, affecting about 60,000 residents. 3M’s attorneys have responded that the chemicals have not been proven […]

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A video of five example transactions at Cedar Point Amusement Park

For this blog post, I have created a video in which I walk through the journal entries for five hypothetical transactions at Cedar Point Amusement Park. This video is appropriate for the beginning of an introductory financial accounting course. The transactions covered include: Sell admission to the park; purchase merchandise inventory for the gift shop; […]

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A step-by-step video on how to construct a journal entry

For this blog post, I have created a video that is a step-by-step guide to constructing a journal entry. The example that I am using in the video to illustrate the journal entry steps is that of Apple selling an iPhone at one of its stores for $1,000 cash. You can view the video (5:35 […]

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Create Customized Financial Accounting Case Assignments with the Accounting Case Template

The Accounting Case Template (ACT) is a web tool I designed that allows instructors to quickly build an introductory financial accounting case assignment. A variety of options are provided from which the instructor can choose, allowing the instructor to quickly build a case assignment customized for his/her specific course. It takes about two minutes to […]

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7 Excel projects for your managerial accounting course

Welcome to spring semester! I thought I would repost this information as you are getting ready to kick off the new semester. If you teach managerial accounting, you may want to look at Dr. Karen Braun’s Excel projects for managerial accounting. She has created seven Excel projects on various topics in managerial accounting, complete with […]

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