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Innovative Spreadsheet-Based Simulation for Modeling Uncertainty in Accounting for Contingencies

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Title: Innovative Spreadsheet-Based Simulation for Modeling Uncertainty in Accounting for Contingencies
Language: English
Authors: Sylwia Gornik-Tomaszewski
Source: Advances in Accounting Education: Teaching and Curriculum Innovations. 2026.
Availability: Emerald Publishing Limited. Howard House, Wagon Lane, Bingley, West Yorkshire, BD16 1WA, UK. Tel: +44-1274-777700; Fax: +44-1274-785201; e-mail: emerald@emeraldinsight.com; Web site: https://books.emeraldinsight.com/
Peer Reviewed: Y
Publication Date: 2026
Document Type: Reports - Descriptive
Descriptors: Accounting, Spreadsheets, Monte Carlo Methods, Risk Assessment, Data Analysis, Visual Aids
DOI: 10.1108/S1085-462220260000029009
Abstract: Integrating advanced analytical techniques into the accounting curriculum is essential in today's dynamic accounting environment. In response to the Association to Advance Collegiate Schools of Business (AACSB) 2020 Business Accreditation Standards, which emphasize the importance of innovative curriculum development, this chapter presents a novel method for teaching accounting for contingencies. It introduces a spreadsheet-based Monte Carlo simulation to enhance the estimation of contingent losses, bridging the gap between US Generally Accepted Accounting Principles (US GAAP) and International Financial Reporting Standards (IFRS) approaches. By incorporating simulation, students gain practical skills in risk assessment, data analysis, and visualization, aligning with the competencies demanded by employers. Other applications of simulation are also discussed, promoting a forward-thinking approach to accounting education. [For the complete volume, "Advances in Accounting Education: Teaching and Curriculum Innovations. Volume 29," see ED678443.]
Abstractor: As Provided
Entry Date: 2026
Accession Number: ED678460
Database: ERIC
FullText Text:
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  Data: Emerald Publishing Limited. Howard House, Wagon Lane, Bingley, West Yorkshire, BD16 1WA, UK. Tel: +44-1274-777700; Fax: +44-1274-785201; e-mail: emerald@emeraldinsight.com; Web site: https://books.emeraldinsight.com/
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  Data: Integrating advanced analytical techniques into the accounting curriculum is essential in today's dynamic accounting environment. In response to the Association to Advance Collegiate Schools of Business (AACSB) 2020 Business Accreditation Standards, which emphasize the importance of innovative curriculum development, this chapter presents a novel method for teaching accounting for contingencies. It introduces a spreadsheet-based Monte Carlo simulation to enhance the estimation of contingent losses, bridging the gap between US Generally Accepted Accounting Principles (US GAAP) and International Financial Reporting Standards (IFRS) approaches. By incorporating simulation, students gain practical skills in risk assessment, data analysis, and visualization, aligning with the competencies demanded by employers. Other applications of simulation are also discussed, promoting a forward-thinking approach to accounting education. [For the complete volume, "Advances in Accounting Education: Teaching and Curriculum Innovations. Volume 29," see ED678443.]
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