Financial services are an increasingly important sector in modern economies, yet many accounting and auditing texts focus on manufacturing and retailing. This teaching note describes the role of financial institutions in transforming long-term, difficult-to-sell assets into short-term bank accounts. This is referred to as liquidity transformation.…

Active learning is a teaching approach that requires students to do something intellectually with course content. This involves examining, questioning, and relating knowledge gained from previous experiences to new knowledge and skills. Native American students have been found to have low financial literacy skills. Family and consumer sciences…

Real-life accounting and auditing problems are often complex and messy, requiring the synthesis of technical knowledge in addition to the application of generic skills. To help students acquire the necessary skills to deal with these problems effectively, educators have called for the use of case-based methods. Cases based on real situations (such…

On 30 January 2009, the Securities and Exchange Commission (SEC) released Rule 33-9002. This rule phased in the required use of XBRL. The accuracy of mapping financial statement line items to the US GAAP taxonomy and the tagging of the financial statement facts are of fundamental importance to the accuracy of the XBRL instance document. Currently,…

This instructional tool presents pension accounting using a worksheet approach where debits equal credits for both the employer and for the plan. Transactions associated with the initiation of the plan through the end of the second year of the plan are presented, including their impact on accumulated other comprehensive income and deferred taxes.…

The CFA Institute and the CFP Board of Standards provide professional certifications in the field of finance. In this paper, I provide my experience with the CFA and CFP programs in order to give other professors some insight into the process of attaining the designations. I hope to provide answers to some of the questions that other faculty…

This paper informs business instructors and educators about XBRL (Extensible Business Reporting Language) so that they can introduce it to their students and expand their students' understanding of how it relates to the accounting profession. Even though the financial community has entered a new age with this standardized reporting language, many…

This document, which is intended for high school business teachers, outlines the plan for a course in which students gain hands-on experience in operating a bank in which students actually deposit money. The document begins with a brief course description, rationale, and list of 11 course objectives. Presented next is background information about…

This guide lists teaching packages, audiovisual materials, and resource materials produced and published by the Federal Reserve System that are specifically designed for teachers and can be adapted easily to classroom use. Materials are listed by intended audience level: elementary, high school, or college. Materials cited are ordered directly…

This student manual and answer book/teacher's guide focus on the industry-specific information and skills needed by students who plan to enter, or who may already be receiving, training in a financial institution, such as commercial banks, savings and loans, and credit unions, as well as pawn shops, credit departments of retail stores, and other…

This guide contains 15 lesson plans on financial topics for high school students. The lessons cover the following: (1) securities in the U.S. economy; (2) careers in finance; (3) commercial banking interest rates; (4) understanding financial statements; (5) newspaper stock tables; (6) financial institution operations; (7) foundation…

This document contains teacher's materials for a course designed for 11th- and 12th-grade students who are interested in pursuing a career in financial institutions. The course consists of six instructional units: orientation, personal money management, the wise use of credit, negotiable instruments, communications, and security. Depending on the…

This document contains the occupational duty/task lists for five occupations in the banking and financial services series. Each occupation is divided into seven or eight duties. A separate page for each duty in the occupation lists the tasks in that duty along with its code number and columns to indicate whether that particular duty has been…

Recommendations for faculty members who are secure in their positions are offered to promote career alternatives beyond those prescribed by their institution. The recommendations cover the implementation and operation of self-help organizations. A survey of faculty members found that faculty members were almost completely dependent on their…

This document contains both a student's manual and a teacher's guide for high school mathematics essential to marketing. The student's manual contains 34 assignments within the following 11 units: (1) arithmetic fundamentals; (2) application of arithmetic fundamentals; (3) cashiering; (4) inventory procedures; (5) invoices; (6) computing employee…