Graduate competency in understanding the gulf between local and international standards is a key concern of regulators, accrediting agencies, professional organizations, universities and affects the mobility of labor. Using Bloom’s taxonomy as a framework for accounting competency and contextualizing it with SFAS 95 and IAS 7, the paper  develops an original case to qualitatively analyze the responses of students at one university. The preliminary findings suggest that classification and extracting information from the SOCF is a difficult area  for most respondents. The level of competency demonstrated is another area of concern. Notwithstanding this, consistent with Bloom respondents were able to connect the purpose of the SOCF with FASB/IASB qualitative characteristics. In terms of using SOCF information for major decisions like valuation, solvency and dividend policy, we have insufficient evidence at this stage of the work. Overall, consistent with the IFRS teaching literature, the preliminary findings suggest that the teaching method followed determines the level of outcome envisaged in Bloom’s hierarchy of competency. The implications of the responses for ED 2019/7 (closing date 30 Sept 2020) are explored.

Presentation and Disclosure Issues within US GAAP and IFRS Statements of Cash flows: Implications for Teaching and Assessing Student Competence

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 AAA 2020 Virtual Annual Meeting and Conference on Teaching and Learning

The American Accounting Association is the largest community of accountants in academia. Founded in 1916, we have a rich and reputable history built on leading-edge research and publications. The diversity of our membership creates a fertile environment for collaboration and innovation. Collectively, we shape the future of accounting through teaching, research and a powerful network, ensuring our position as thought leaders in accounting.