Costco Wholesale Corporation (NASDAQ: COST) recently reported strong results for the second quarter of its fiscal year 2026. Through the first 24 weeks of fiscal 2026, Costco collected $2.68 billion in membership fees from its 81.4 million paid households worldwide. Membership fee revenue grew approximately 14% in the second quarter alone, driven by both new […]
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Want to include AI in your accounting course? Free AI in accounting teaching materials
July 27, 2025 
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If you’ve been thinking about incorporating generative AI into your accounting courses but aren’t sure where to start, I have a resource for you. AI in Accounting Education: A Practical Guide for Educators and Students is a free PDF book you can use immediately in your classes. It includes 28 chapters that span financial, managerial, […]
Continue readingCh 01 Financial statements, Ch 01 Introduction, Ch 02 Building Blocks, Ch 02 Transaction analysis, Ch 03 Accrual income, Ch 03 Job Costing, Ch 04 ABC, Ch 04 Internal control and cash, Ch 05 Process Costing, Ch 05 Receivables and revenues, Ch 06 Cost behavior, Ch 06 Inventory & COGS, Ch 07 CVP, Ch 07 PP&E and Intangibles, Ch 08 Current liabilities, Ch 08 Short-term Decisions, Ch 09 Budgeting, Ch 09 Long-term liabilities, Ch 10 Performance Evaluation, Ch 10 Stockholders' equity, Ch 11 Standard Costs and Variances, Ch 11 Statement of cash flows, Ch 12 Capital Budgeting, Ch 12 Financial statement analysis, Ch 13 Stmt of Cash Flows, Ch 14 Financial Statement Analysis, Ch 15 Sustainability, Data analytics, Financial accounting, Managerial accounting, Miscellaneous
Interested in integrating examples of ESG into your accounting course?
March 28, 2025 0 Comments
This week, I’m giving a presentation on ways to integrate ESG into introductory accounting at the AAA’s Sustainability in Accounting conference. I thought I’d share one of the resources I developed for that presentation here on my blog. Introductory financial or managerial accounting is a great place to help students see how accounting connects to […]
Continue readingCh 01 Introduction, Ch 04 Internal control and cash, Ch 05 Receivables and revenues, Ch 06 Cost behavior, Ch 06 Inventory & COGS, Ch 07 PP&E and Intangibles, Ch 08 Current liabilities, Ch 08 Short-term Decisions, Ch 09 Budgeting, Ch 09 Long-term liabilities, Ch 10 Performance Evaluation, Ch 11 Standard Costs and Variances, Ch 11 Statement of cash flows, Ch 12 Capital Budgeting, Ch 12 Financial statement analysis, Ch 13 Stmt of Cash Flows, Ch 14 Financial Statement Analysis, Ch 15 Sustainability, Data analytics, Financial accounting, Managerial accounting
How would Yeti account for the contingent liability arising from a recall of its soft coolers and gear cases?
March 19, 2023 0 Comments
Yeti is recalling nearly two million soft coolers and gear cases, including the Hopper M30 Soft Cooler 1.0 and 2.0, Hopper M20 Soft Backpack Cooler, and SideKick Dry Gear Case, due to a magnet ingestion hazard. The products, sold between March 2018 and January 2023, feature large internal pockets with powerful magnet closures that can […]
Continue readingHow would Kraft account for the contingent liability arising from a class action lawsuit alleging that it takes more than the advertised 3 ½ minutes to prepare Velveeta Microwaveable Shells & Cheese cups?
November 28, 2022 2 Comments
On the packaging of Velveeta Microwaveable Shells & Cheese cups, it says that it takes three and a half minutes to cook to the right consistency of cheese. However, for one upset Florida woman, it seems to be untrue. According to the South Florida Sun-Sentinel, Amanda Ramirez has filed a proposed class-action lawsuit accusing Kraft […]
Continue readingDoes GM have a contingent liability for its 2015 – 2019 Chevrolet Corvettes?
October 12, 2020 0 Comments
Recently, a class action lawsuit was filed against General Motors (GM) accuses GM of using inferior materials and a faulty manufacturing process that resulted in poor quality wheels on its 2015 – 2019 Chevrolet Corvette sport cars. The 18 parties who filed the lawsuit state that wheels on their Corvettes have bent or cracked even […]
Continue readingHow does Amazon’s redemption of its notes payable impact its financial statements?
January 11, 2020 0 Comments
Amazon.com (NASDAQ: AMZN) recently redeemed $1 billion of its 2.6% notes payable one month before the maturity date. “Redeemed” means that Amazon paid cash to the note holders for the principal amount of the notes and the interest accrued up to the redemption date. Questions Assume that, on the date of redemption, it had been […]
Continue readingAccounting Case Template tool available to build an introductory financial accounting case assignment
January 3, 2019 3 Comments
Again, as we start a new semester, I wanted to point out the availability of a tool that may be of use in teaching introductory financial accounting. 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 […]
Continue reading10-K, Ch 01 Financial statements, Ch 02 Transaction analysis, Ch 03 Accrual income, Ch 04 Internal control and cash, Ch 05 Receivables and revenues, Ch 06 Inventory & COGS, Ch 07 PP&E and Intangibles, Ch 08 Current liabilities, Ch 09 Long-term liabilities, Ch 10 Stockholders' equity, Ch 11 Statement of cash flows, Ch 12 Financial statement analysis, Financial accounting
Create Customized Financial Accounting Case Assignments with the Accounting Case Template
August 20, 2018 3 Comments
Again, as we start the fall semester, I wanted to point out the availability of a tool that may be of use in teaching introductory financial accounting. 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 […]
Continue readingCh 01 Financial statements, Ch 02 Transaction analysis, Ch 03 Accrual income, Ch 04 Internal control and cash, Ch 05 Receivables and revenues, Ch 06 Inventory & COGS, Ch 07 PP&E and Intangibles, Ch 08 Current liabilities, Ch 09 Long-term liabilities, Ch 10 Stockholders' equity, Ch 11 Statement of cash flows, Ch 12 Financial statement analysis, Financial accounting
Create Customized Financial Accounting Case Assignments with the Accounting Case Template
January 10, 2018 1 Comment
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 […]
Continue reading10-K, Ch 01 Financial statements, Ch 02 Transaction analysis, Ch 03 Accrual income, Ch 04 Internal control and cash, Ch 05 Receivables and revenues, Ch 06 Inventory & COGS, Ch 07 PP&E and Intangibles, Ch 08 Current liabilities, Ch 09 Long-term liabilities, Ch 10 Stockholders' equity, Ch 11 Statement of cash flows, Ch 12 Financial statement analysis, Financial accounting
Accounting in the Headlines 