Emphasizing Financial Accounting Theory in Intermediate Accounting.

Abstract

in recent years, intermediate accounting courses have been organized so that increased emphasis is placed on the expanding body of authoritative pronouncements which constitute generally accepted accounting principles. The shift In emphasis away from the more general theory of financial accounting has been criticized as depriving students of the understanding required for career growth. An alternative approach to the teaching of financial accounting topics which emphasizes conceptual Issues is described and then illustrated in the context of lease accounting. The approach represents a method accounting educators can use to reemphasize the teaching of financial accounting theory in the core of the accounting curriculum.