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Assignment: Definition in Finance, How It Works, and Examples

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master's in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem.

Yarilet Perez is an experienced multimedia journalist and fact-checker with a Master of Science in Journalism. She has worked in multiple cities covering breaking news, politics, education, and more. Her expertise is in personal finance and investing, and real estate.

What Is an Assignment?

Assignment most often refers to one of two definitions in the financial world:

• The transfer of an individual's rights or property to another person or business. This concept exists in a variety of business transactions and is often spelled out contractually.
• In trading, assignment occurs when an option contract is exercised. The owner of the contract exercises the contract and assigns the option writer to an obligation to complete the requirements of the contract.

Key Takeaways

• Assignment is a transfer of rights or property from one party to another.
• Options assignments occur when option buyers exercise their rights to a position in a security.
• Other examples of assignments can be found in wages, mortgages, and leases.

Uses For Assignments

Assignment refers to the transfer of some or all property rights and obligations associated with an asset, property, contract, or other asset of value. to another entity through a written agreement.

Assignment rights happen every day in many different situations. A payee, like a utility or a merchant, assigns the right to collect payment from a written check to a bank. A merchant can assign the funds from a line of credit to a manufacturing third party that makes a product that the merchant will eventually sell. A trademark owner can transfer, sell, or give another person interest in the trademark or logo. A homeowner who sells their house assigns the deed to the new buyer.

To be effective, an assignment must involve parties with legal capacity, consideration, consent, and legality of the object.

A wage assignment is a forced payment of an obligation by automatic withholding from an employee’s pay. Courts issue wage assignments for people late with child or spousal support, taxes, loans, or other obligations. Money is automatically subtracted from a worker's paycheck without consent if they have a history of nonpayment. For example, a person delinquent on $100 monthly loan payments has a wage assignment deducting the money from their paycheck and sent to the lender. Wage assignments are helpful in paying back long-term debts.

Another instance can be found in a mortgage assignment. This is where a mortgage deed gives a lender interest in a mortgaged property in return for payments received. Lenders often sell mortgages to third parties, such as other lenders. A mortgage assignment document clarifies the assignment of contract and instructs the borrower in making future mortgage payments, and potentially modifies the mortgage terms.

A final example involves a lease assignment. This benefits a relocating tenant wanting to end a lease early or a landlord looking for rent payments to pay creditors. Once the new tenant signs the lease, taking over responsibility for rent payments and other obligations, the previous tenant is released from those responsibilities. In a separate lease assignment, a landlord agrees to pay a creditor through an assignment of rent due under rental property leases. The agreement is used to pay a mortgage lender if the landlord defaults on the loan or files for bankruptcy . Any rental income would then be paid directly to the lender.

Options Assignment

Options can be assigned when a buyer decides to exercise their right to buy (or sell) stock at a particular strike price . The corresponding seller of the option is not determined when a buyer opens an option trade, but only at the time that an option holder decides to exercise their right to buy stock. So an option seller with open positions is matched with the exercising buyer via automated lottery. The randomly selected seller is then assigned to fulfill the buyer's rights. This is known as an option assignment.

Once assigned, the writer (seller) of the option will have the obligation to sell (if a call option ) or buy (if a put option ) the designated number of shares of stock at the agreed-upon price (the strike price). For instance, if the writer sold calls they would be obligated to sell the stock, and the process is often referred to as having the stock called away . For puts, the buyer of the option sells stock (puts stock shares) to the writer in the form of a short-sold position.

Suppose a trader owns 100 call options on company ABC's stock with a strike price of $10 per share. The stock is now trading at $30 and ABC is due to pay a dividend shortly. As a result, the trader exercises the options early and receives 10,000 shares of ABC paid at $10. At the same time, the other side of the long call (the short call) is assigned the contract and must deliver the shares to the long.

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Course Resources

Assignments.

The assignments in this course are openly licensed, and are available as-is, or can be modified to suit your students’ needs. Answer keys are available to faculty who adopt Lumen Learning courses with paid support. This approach helps us protect the academic integrity of these materials by ensuring they are shared only with authorized and institution-affiliated faculty and staff.

If you import this course into your learning management system (Blackboard, Canvas, etc.), the assignments will automatically be loaded into the assignment tool.

You can view them below or throughout the course.

• Module 0: Personal Accounting— Assignment: Creating a Budget
• Module 1: The Role of Accounting in Business— Assignment: Lopez Consulting
• Module 2: Accounting Principles— Assignment: Accounting Principles
• Module 3: Recording Business Transactions— Assignment: Recording Business Transactions
• Module 4: Completing the Accounting Cycle— Assignment: Completing the Accounting Cycle
• Module 5: Accounting for Cash— Assignment: Accounting for Cash
• Module 6: Receivables and Revenue— Assignment: Manilow Aging Analysis
• Module 7: Merchandising Operations— Assignment: Merchandising Operations
• Module 8: Inventory Valuation Methods— Assignment: Inventory Valuation Methods
• Module 9: Property, Plant, and Equipment— Assignment: Property, Plant, and Equipment
• Module 10: Other Assets— Assignment: Other Current and Noncurrent Assets
• Module 11: Current Liabilities— Assignment: Calculating Payroll at Kipley Co
• Module 12: Non-Current Liabilities— Assignment: Non-Current Liabilities
• Module 13: Accounting for Corporations— Assignment: Collins Mfg Stockholders’ Equity
• Module 14: Statement of Cash Flows— Assignment: Kachina Sports Company Cash Flows
• Module 15: Financial Statement Analysis— Assignment: Coca Cola FSA

Discussions

The following discussion assignments will also be preloaded (into the discussion-board tool) in your learning management system if you import the course. They can be used as is, modified, or removed. You can view them below or throughout the course.

• Module 0: Personal Accounting— Discussion: Winning the Lottery
• Module 1: The Role of Accounting in Business— Discussion: The Crafty Coffee Crook
• Module 2: Accounting Principles— Discussion: SoftSheets
• Module 3: Recording Business Transactions— Discussion: Baker’s Breakfast Bars
• Module 4: Completing the Accounting Cycle— Discussion: Closing the Books in QuickBooks
• Module 5: Accounting for Cash— Discussion: Counter Culture Cafe
• Module 6: Receivables and Revenue— Discussion: Maximizing Revenue
• Module 7: Merchandising Operations— Discussion: Inventory Controls
• Module 8: Inventory Valuation Methods— Discussion: LIFO, FIFO, Specific Identification, and Weighted Average
• Module 9: Property, Plant, and Equipment— Discussion: Cooking the Books
• Module 10: Other Assets— Discussion: Other Assets
• Module 11: Current Liabilities— Discussion: Current Liabilities
• Module 12: Non-Current Liabilities— Discussion: Off-Balance Sheet Financing
• Module 13: Accounting for Corporations— Discussion: Home Depot
• Module 14: Statement of Cash Flows— Discussion: Facebook, Inc.
• Module 15: Financial Statement Analysis— Discussion: Financial Statement Analysis

Alternative Excel-Based Assignments

For Modules 3–15, additional excel-based assignments are available below.

Module 3: Recording Business Transactions

• Module 3 Excel Assignment A
• Module 3 Excel Assignment B

Module 4: The Accounting Cycle

• Module 4 Excel Assignment A
• Module 4 Excel Assignment B
• Module 4 Excel Assignment C
• Module 4 Excel Assignment D

Module 5: Accounting for Cash

• Module 5 Excel Assignment

Module 6: Receivables and Revenue

• Module 6 Excel Assignment A
• Module 6 Excel Assignment B

Module 7: Merchandising Operations

• Module 7 Excel Assignment

Module 8: Inventory Valuation Methods

• Module 8 Excel Assignment A
• Module 8 Excel Assignment B
• Module 8 Excel Assignment C

Module 9: Property, Plant, and Equipment

• Module 9 Excel Assignment A
• Module 9 Excel Assignment B

Module 10: Other Assets

• Module 10 Excel Assignment

Module 11: Current Liabilities

• Module 11 Excel Assignment

Module 12: Non-Current Liabilities

• Module 12 Excel Assignment A
• Module 12 Excel Assignment B

Module 13: Accounting for Corporations

• Module 13 Excel Assignment A
• Module 13 Excel Assignment B
• Module 13 Excel Assignment C

Module 14: Statement of Cash Flows

• Module 14 Excel Assignment A
• Module 14 Excel Assignment B

Module 15: Financial Statement Analysis

• Module 15 Excel Assignment

Review Problems

There are also three unit review assignments and a final review. These reviews include a document which sets up the problems and an excel worksheet.

Unit 1 Review Problem (After Module 6)

• Review Problem Document

Unit 2 Review Problem (After Module 8)

Unit 3 review problem (after module 9), final review (after module 15).

• Assignments. Authored by : Cindy Moore and Joe Cooke. Provided by : Lumen Learning. License : CC BY: Attribution

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Leading with Finance

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A Manager's Guide to Finance & Accounting

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Mihir Desai Leading with Finance

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Leading with Finance FAQs

What are the learning requirements in order to successfully complete the course, and how are grades assigned.

Participants in Leading with Finance are eligible for a Certificate of Completion from Harvard Business School Online.

Participants are expected to fully complete all coursework in a thoughtful and timely manner. This will mean meeting each week’s course module deadlines and fully answering questions posed therein. This helps ensure your cohort proceeds through the course at a similar pace and can take full advantage of social learning opportunities. In addition to module and assignment completion, we expect participation in the social learning elements of the course by offering feedback on others’ reflections and contributing to conversations on the platform. Participants who fail to complete the course requirements will not receive a certificate and will not be eligible to retake the course.

More detailed information on course requirements will be communicated at the start of the course. No grades are assigned for Leading with Finance. Participants will either be evaluated as complete or not complete.

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At the end of each course module, you will be able to download a PDF summary highlighting key concepts and accounting and financial formulas used throughout the course. At the end of the program, you will receive a PDF compilation of all of the module summary documents. We hope the module summary documents will serve as a helpful resource after you finish the course.

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Harvard Business School Online Certificate in Leading with Finance [Cohort Start Month and Year]

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School: Harvard Business School Online Dates Attended: [The year you participated in the program Degree: Other; Certificate in Leading with Finance Field of Study: Leave blank Grade: "Complete" Activities and Societies: Leave blank

Description: Leading with Finance is a 6-week, 40-hour online certificate program from Harvard Business School. Leading with Finance helps students understand key financial levers that drive financial performance, examine how the capital markets work, develop a toolkit for making smart financial decisions, and gain the confidence to clearly communicate those decisions to both internal and external stakeholders. The program was developed by leading Harvard Business School faculty and is delivered in an active learning environment based on the HBS signature case-based learning model.

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The Ultimate Guide to Excelling in Financial Management Assignments

Any business organization must effectively manage its finances, and assignments on the topic give students the chance to learn more about the guiding principles and ideas of efficient financial management. This guide is intended to give you useful tips on how to create an engaging assignment on financial management, whether you are a finance student looking to improve your understanding or a professional looking to improve your financial management skills. You can make sure that your assignment demonstrates a thorough understanding of financial management principles while capturing the attention of your readers by using the techniques described in this article. This guide covers the necessary steps to assist you in writing a well-structured and informative assignment, from outlining key principles to conducting efficient research to defining financial management and emphasizing its significance. The information provided here will direct you towards success in writing financial management assignment , whether your goal is academic excellence or improving your practical financial management skills.

Understanding the Basics of Financial Management

Understanding the foundational ideas of financial management is essential to writing an effective assignment on the subject. Planning, organizing, directing, and controlling financial activities within an organization are all included in financial management. These fundamental ideas will help you build a strong foundation for your assignment. You will be able to analyze and discuss financial management theories, practices, and concepts with greater accuracy once you have this understanding. Furthermore, a thorough understanding of financial management fundamentals guarantees the coherence and logical flow of your assignment. It aids in contextualizing your arguments and enabling you to reach insightful conclusions. Therefore, spend some time becoming familiar with the foundational ideas of financial management before starting the writing process. You can create a well-structured and informed assignment on financial management using this knowledge as a framework.

Define Financial Management

Start by outlining the meaning of financial management in the context of business. Describe how budgeting, financial analysis, financial forecasting, and decision-making are all included in financial management. Maximizing shareholder wealth, ensuring liquidity, managing risks, and optimizing the use of financial resources, are just a few of the key goals of financial management. Give examples of how financial management helps organizations achieve long-term sustainability, facilitate growth, and maintain financial stability.

Discuss the Importance of Financial Management

Examine the value of financial management for businesses of all sizes and in all sectors. Describe how employing sound financial management techniques can boost revenue, improve investment performance, cash flow management, and financial stability. Highlight how important financial management is for guiding resource allocation, assisting in sustainable growth, and supporting strategic decision-making. Give concrete illustrations and case studies to show how businesses have benefited from putting effective financial management strategies into practice as well as the drawbacks of ineffective financial management techniques.

Outline the Key Principles of Financial Management

Describe and enumerate the main guiding principles of financial management. The time value of money, risk and return trade-offs, diversification, leverage, profitability, and the idea of opportunity cost are some of these concepts. Explain each principle in detail, showing how it applies to financial decision-making. Describe how these principles assist financial managers in assessing investment opportunities, controlling financial risks, and enhancing an organization's capital structure. To show the practical applications of these principles in actual financial management situations, back up your explanations with pertinent examples and case studies.

Conducting Research for Your Financial Management Assignment

Writing an informed and comprehensive financial management assignment requires extensive research. The foundation of your work is research, which gives you the facts and figures you need to back up your claims and analyses. This section will describe how to conduct efficient research, assisting you in compiling pertinent and trustworthy sources for your assignment. You can guarantee the accuracy and reliability of the information you include in your assignment by using a variety of sources, including textbooks, scholarly journals, industry reports, and financial databases. Maintaining up-to-date knowledge of current financial trends and laws is also essential to prove that you comprehend the dynamic nature of financial management. You can improve the quality and depth of your assignment by doing thorough research, which will allow you to present arguments and insights in the field of financial management that are solidly supported.

Utilize Diverse Sources

It is essential to consult a variety of sources for your financial management assignment if you want to guarantee its accuracy and dependability. You will gain a thorough understanding of the subject matter if you rely on a variety of sources, including books, scholarly journals, industry reports, reputable websites, and financial databases. To ensure the accuracy of the data and insights you present in your assignment, evaluate the credibility, relevance, and timelessness of the information you incorporate from these sources. You can improve the depth and caliber of your research by incorporating a variety of sources and providing solid evidence to back up your claims and analyses.

Stay Updated with Current Financial Trends

The field of financial management is constantly evolving and changing. It's crucial to keep up with the most recent financial trends, laws, and practices to write an informed and pertinent financial management assignment. You can demonstrate your knowledge and understanding of the dynamic nature of financial management by staying up to date with recent developments. To gather up-to-date information, turn to reliable financial news sources, business networks, and sector-specific publications. Your assignment will demonstrate your ability to analyze actual situations and apply modern financial management principles by incorporating current trends, case studies, and industry insights. Being current will help your assignment sound more credible and show that you are interested in the constantly changing field of financial management.

Structuring Your Financial Management Assignment

Your financial management assignment's structure is an important component that improves readability and makes it possible for you to communicate your ideas. The logical flow of a well-structured assignment ensures that your arguments and analysis are presented understandably and systematically. You can set the stage for what follows by giving a succinct introduction that describes the aim and goals of your assignment. The main body of your assignment can be organized into sections that each concentrate on different facets of financial management. This allows for a methodical investigation of the subject. The organization and readability of your work are further enhanced when subheadings are used within these sections. Finally, a thoughtful conclusion that summarises the main ideas and highlights their importance brings the assignment together successfully. You can effectively engage your readers and present a strong argument in your financial management assignment by following a solid structure. The fundamental components and format for your financial management assignment are described in this section.

Introduction

Start your financial management assignment off strong with a succinct and captivating introduction. Indicate the precise goals you hope to achieve in your assignment's purpose and objectives, which should be stated clearly. Introduce the subject of financial management by emphasizing its importance and relevance in the fast-paced business environment of today. Give the reader a glimpse of the insightful knowledge they can expect to learn from reading your work by giving a brief overview of the important topics you will be covering in your assignment. You will lay a solid foundation for the remainder of your assignment by establishing the scene and a clear direction from the outset.

The main body of your financial management assignment should be divided into logical sections, each of which should focus on a different facet of the subject. Ensure that sections flow into one another seamlessly to allow for a logical progression of ideas. Include pertinent theoretical frameworks, case studies, and empirical data to back up your claims and analysis. Use subheadings to effectively organize your content so that readers can navigate your assignment and understand the main ideas. You can show that you have a thorough understanding of financial management by putting forth arguments that are supported by a variety of sources and engaging your readers in thought-provoking debates.

Reiterate the important ideas covered in your work throughout your financial management assignment. Summarise the key conclusions and revelations from your study, focusing on their importance in the context of financial management. Restate the main goals of your assignment and demonstrate how you met them successfully in your work. To encourage readers to learn more about the subject in-depth, you should also think about making recommendations for additional research or discussing the useful implications of your findings. A strong conclusion leaves a lasting impression on your audience, reinforcing the significance of your research and giving them something to ponder.

Writing Tips for Your Financial Management Assignment

Effective communication and attention to detail are necessary when writing a financial management assignment. This section offers helpful advice to improve the caliber of your assignment. You can make sure that your readers can understand your ideas by using clear, concise language. Strengthening your analysis and giving your work credibility by supplying pertinent data and evidence to support your claims. To remove errors and increase clarity, proper editing and proofreading are also crucial. Academic integrity requires consistency in referencing and adherence to the proper citation style. Additionally, readability is improved by logically structuring your assignment and organizing your thoughts coherently. By using these writing suggestions, you can create a strong financial management assignment that shows off your knowledge and comprehension of the subject. Take into account the following writing advice to make sure your assignment is effective and clear:

Use Clear and Concise Language

It's crucial to convey your ideas concisely and clearly when writing your financial management assignment. Avoid confusing your readers with jargon and technical terms. Instead, make an effort to speak simply and clearly. To ensure comprehension and give context to your readers, define any technical terms you use. Your assignment will be easier to read and more accessible to a wider audience if you use clear, concise language.

Support Your Arguments with Evidence

It is crucial to support your claims and arguments with pertinent facts and figures to give your financial management assignment more credibility. When necessary, use tables, graphs, and charts to visually illustrate your points and improve comprehension. Follow the proper referencing style and make sure to consistently and accurately cite your sources. By providing evidence to back up your claims, you show that you have a thorough understanding of the subject at hand and lay the groundwork for your analysis and conclusions.

Proofread and Edit Your Assignment

Spend some time carefully editing and proofreading your financial management assignment before turning it in. Check your assignment carefully for grammatical, spelling, and punctuation errors to make sure it is error-free. Make sure your assignment reads well and is coherent, with logical connections between ideas and paragraphs. Edit your work for readability, clarity, and logical content organization. This entails looking over your sentences for clarity, your writing for consistency, and your assignment as a whole for the overall structure. You can polish your assignment and present a polished piece of work by going through a thorough proofreading and editing process.

In conclusion, writing a financial management assignment necessitates having a firm understanding of the subject and strong research abilities. You can write an engaging essay by studying the foundations of financial management, doing extensive research, and logically arranging your assignment. It is essential to use clear and concise language, back up your claims with proof, and carefully proofread your assignment for accuracy and clarity. By putting these techniques into practice, you'll not only impress your readers but also gain a deeper understanding of this important subject. Accept the challenge, implement the advice in this manual, and let your assignment serve as a showcase for your expertise in and enthusiasm for financial management. Wishing you luck as you complete your assignment!

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Financial Accounting and Reporting Classroom Materials

Financial Accounting and Reporting is an important part of the accounting curriculum. The skills students learn in your classroom will not only prepare them for more advanced courses, but to one day succeed in a career.  The below are supplemental curriculum resources that the AICPA Academics team have reviewed and think can be used in the classroom.

Award-Winning Curricula

The Academics team is proud to offer award-winning curricula designed to encourage faculty and expand the knowledge of accounting students. The curricula below is from the  Accounting Professors Curriculum Resource tool  and has been recognized for excellence with the  Bea Sanders/AICPA Innovation and Teaching Award , the  George Krull/Grant Thornton AAA Innovation in Junior and Senior-Level Teaching Award,  or the  Mark Chain/FSA Innovation in Graduate Teaching Award . 

• A Better Way to Teach Effective Interest Method Related Problems in Accounting   This resource presents a simpler method of teach accounting problems involving the use of the effective interest method. The method stimulates student interest by focusing on the economics of the transaction and relating it to real-life examples.
• Accounting in the Headlines: A News Blog for the Introductory Accounting Classroom   This resource shares Wendy Tietz's "Accounting in the Headlines" blog in which she writes stories about real-life companies and events that can be used in the accounting classroom to illustrate introductory financial and managerial accounting concepts.
• Accounting Challenge (ACE): Mobile-Gaming App for Learning Accounting Accounting Challenge is the first mobile-gaming app for teaching financial accounting. ACE aims to enhance learning of accounting outside the classroom by engaging students to play and learn accounting on the go.  
• A FASB Accounting Standards Codification Project for Introductory Financial Accounting   This exercise is designed as a team project in which introductory accounting students act as a consultants to a client seeking guidance on issues surrounding a start-up venture. Students must access and cite the Codification as the basis for the materials they submit in fulfillment of the project requirements.
• Attracting the Best and Brightest to Accounting: Establishing an Honors Accounting Course   This resource presents one school's approach to attracting and recruiting the best and brightest students toward accounting by offering an honors accounting course.
• Beyond Debits and Credits... Service Learning in Accounting   This resource presents a service learning project implemented in two accounting courses to enhance student skills in communication and teamwork.
• Business From the Idea to the Seasoned Offering: Accounting and Financial Statements Reflecting Business Activities   This project takes accounting education from bookkeeping to holistic active business learning including how financial statements build to reflect the business.
• Chocolate: Accounting as a First year Seminar   This resource provides a thematic approach at combining first year seminars and accounting programs using student activities that are simultaneously engaging and assessable.
• Creative Strategies for Teaching MBA Level Accounting   This resource presents a new concept for teaching accounting to MBA level students. At its heart, accounting centers on measurement of historical transactions or the measurement of future opportunities. this course turns the focus from rules, to the tools leaders need to manage a complex organization.
• Cultivating Deep Learning in the Principles of Accounting Classes through Philanthropy-Based Education   This philanthropy project goes beyond service learning or volunteerism. Students make real decisions that have immediate impacts on their community. Students award funding to not-for-profit agencies based on a competitive proposal process.
• Digital Storytelling for Engaged Student Learning   This resource uses digital story telling, a movie, to enhance students' technical competence in accounting. The story uses 12 episodes to follow three young business graduates who started their own business and discover along the way the role of financial information in managing a business venture.
• FASB Accounting Standards Codification: Student-Authored Research Exercises   This resource is based on the notion that the best way to learn something is to teach it. Students in a financial accounting graduate class demonstrate their master of GAAP research skills by creating research assignments using the FASB Accounting Standards Codification.
• Forming Groups in the Age of YouTube   This resource uses a variation of speed dating as a means for forming groups in an introductory accounting class. By learning more about their classmates prior to self-selecting a group this method allows students to choose better groups.
• Getting Started in the Throughbred Horse Business: A Review of Some Basic Accounting Principles   This resource provides reinforcement of common accrual accounting concepts centered on the breeding and racing operations of a small thoroughbred horse business. This curriculum is appropriate to use after students have been exposed to fixed assets, inventory, profit and loss and cash flow reporting.
• IFRS Immersion   This resource provides instructions for teaching an IFRS course from the standpoint of foreign companies that have already dealt with the problems and issues associated with converting from local GAAP to international GAAP.
• IFRS Projects Using Dual Reporting of IFRS and U.S. GAAP   This resource illustrates integrating IFRS learning into financial accounting curricula by incorporating valuable contrasting information from the dual reporting.
• Integrated Accounting Principles: A New Approach to Traditional Accounting Principles Courses   This resource describes an integrated accounting principles course that combines traditional financial and managerial accounting courses into a single six hour course.
• Introducing Freshmen Students in the Accounting/Finance Course to the Library   This resource describes a series of online, interactive tutorials and quizzes to help students learn fundamental concepts and skills of company and industry related research.
• Introduction to Financial Accounting Case Project: Arctic Blast Ice Cream Store   This case provides an opportunity for students to apply accounting concepts to a simple business venture. The project lasts 4-6 weeks and covers three distinct phases of the management process: business decision making, performance and evaluation.
• Let's Go to the Movies: Using Movies as an Ethics Assignment   This project involves students watching a series of predetermined movies and noting the ethical dilemma. At the end of the semester each student must defend one of the movies as a nominee for "A Must See Ethics Movie" for accounting/business students.
• Mini-responsibility Centers: A Strategy for Learning by Leading   This resource explains the concept of using mini-responsibility centers (MRCs) to decentralize large financial, managerial and cost accounting courses. In return the students are more focused and engaged.
• Modeling Uncertainty in C-V-P Assignments: Going Beyond the Basics!   This resource provides an outline for using the Monte Carlo Simulation to offer graduate students an opportunity to rapidly come to insights about probabilistic model building and interpretation. The simulation combines quantitative skills and qualitative skills along with reports and presentations.
• Northwind Data Query Exercise   This project encourages students to consider the evolution of data sources for financial reporting and evaluate how to acquire and manipulate information in this emerging business reality; by actually practicing queries and exporting information to worksheets.
• Reinventing Student Engagement and Collaboration within Introductory Accounting Courses   This resource provides ideas for increasing engagement and collaboration in the introductory accounting class. Examples include student projects, flipped classroom applications and in-class problems.
• Responsibilities and Choices: An Active Engagement Exercise for Introductory Accounting Courses   This exercise provides students with an opportunity to perform a basic due diligence task, complete a relatively simple working paper to document their work and make a decision. The exercise has embedded moral temptation and ethical issues and examines ethical choices that students make in the presence of time pressure and reward structures that encourage aggressive performance.
• TeachingIFRS.com   This document provides information on TeachingIFRS.com which was created  in response to the rapid growth of IFRS and lack of high quality and effective teaching resources. The site consolidates and provides links to numerous freely available IFRS pedagogical materials.
• Testing Critical Thinking Skills in Accounting Principles   This resource describes a method for testing critical thinking skills in an accounting principles course. Using this method, each testing period is divided into two parts. First, students complete an individual traditional test. The second part is a critical thinking exercise called "the challenge problem".
• The Accounting Profession Post Sarbanes-Oxley: An Approach to Impart Knowledge About the Conceptual Framework and Attract Students to the Accounting Major   This document provides the description of a program entitled "The Accounting Profession Post Sarbanes-Oxley". The program provides students with an opportunity to better understand important elements of the conceptual framework. It also provides an overview of the career opportunities in accounting.
• The Accounting Tournament - March Madness in Financial Accounting   This resource describes implementation of an end of year comprehensive review using brackets as a model. Students are randomly placed in the bracket and compete against each other for extra credit points.
• The Amazing Accounting Race: An Introductory Accounting Semester Project   This project engages students with an exciting internet race around the professional world of accounting. Students obtain clues to complete tasks, encounter detours, road blocks and fast forwards. The assignments utilize students' synthesis skills and computer application skills as they collect facts about accounting careers from the internet and assemble data in an organized format.
• The College to Professional Experience   This resource outlines a program that serves to better prepare students for the "real world" by changing the perception of education from "learning by doing" to "doing and making to learn with technology". The project aims to move beyond traditional models of education to leverage technology to facilitate new methods of delivery and understanding.
• The Farming Game and the Introductory Financial Accounting Course: An Accounting Simulation   The Farming Game enables students to develop many of the skill-based competencies needed by students entering the accounting profession, regardless of career path. The Game provides experiential learning of various accounting principles. It is a learning opportunity that offers students a degree of reality and a larger view of the system.
• Understand FX Risk by Playing Monopoly   This resource uses a short version of Monopoly to understand the FX risk impact on net income.
• Back to the Future: Using Accounting History to Explore Professional Opportunities   In this project students read an article about a period of time in accounting history and present their findings to the class in a video format. Students then tie what they have learned in the presentations to the field of accounting today as well as the future.
• From Pacioli to Picasso: Using Art to Enhance Critical Thinking in Accounting Capstone Courses   This resource outlines using name cards, picture drawings and classic artwork to help students enhance their critical thinking skills. The exercise sets the tone for a course that requires them to think about more than rules and regulations and instead delve into the "why" and "what could be."
• Digging Deep: Using Forensic Analytics as a Context to Teach Microsoft Excel and Access   This resource describes a graduate level case that focuses on the development of technology skills through the lens of forensic analysis.
• Who Moved My Classroom? Community Linked Learning and Assessment   This resource describes three exercises that expand learning beyond the classroom. The first exercise allows students to discover the linkage between classroom studies and what practitioners do in the "real world". The second allows students to apply the COSO model to internal controls. The third requires students to interpret financial statements for a friend.

Additional Materials

Here are additional materials we reviewed and think are useful to incorporate into the classroom.

• IIRC Database of Research on Integrated Reporting The International Integrated Reporting Council (IIRC) launched the <IR> Academic Database, a searchable collection of more than 200 articles, books, chapters, dissertations, and other pieces of scholarly research on the advancement, adoption, and practice of integrated reporting. 
• A destination is only as good as its compass. The new  My 360  is here to help you create a free plan personalized to your financial needs by helping guide you through all the resources 360 Degrees of Financial Literacy has to offer.

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What’s New in 2024 Release Wave 1 for Dynamics 365

Dynamics 365’s 2024 release wave 1 has many new features and other changes for Dynamics 365 Business Central, Dynamics 365 Finance & Operations, and the CRM applications (like Dynamics 365 Sales).

For each product, some of the improvements have to do with Copilot AI functionality, while others have to do with adding automations, improved tracking, or other options.

Each section below gives a brief overview of a few of what we see as some key updates for our customers in each product line, along with links to the official Microsoft resources.

Note that some of the features described below have already been released at the time of writing, but others have not, and wave release info is subject to change.

What’s New In:

• Dynamics 365 Business Central
• Dynamics 365 CRM Applications
• Dynamics 365 Finance & Operations

Changes to Dynamics 365 Business Central in 2024 Release Wave 1

For this release wave, we want to highlight three enhancements in Business Central: new automation for 1099s, streamlined integration with Shopify, and Copilot functionality.

1099 Automation

In this wave release, Business Central adds automation for submitting 1099s.

This enhancement simplifies the workflow, using an integration with the IRS to automate form delivery, including direct vendor distribution. A new setup table allows for detailed configurations.

Additionally, vendors configured to receive forms via email will be able to use an automatic delivery system. For vendors requiring manual distribution, you can also print forms. The update also includes integration with the IRIS system for submission tracking and status updates from the IRS.

Overall, this change could be a significant efficiency gain in an often labor-intensive process. You can read the details from Microsoft on this automation.

Easier Integration with Shopify

We’re also pleased to see an enhanced integration between Microsoft Dynamics 365 Business Central and Shopify, aimed at enriching the online shopping experience for your customers.

This integration should allow for faster order fulfillment and improved customer service. This update comes in response to customer feedback, and implements several improvements to streamline the setup process (making it easier to get the necessary Shopify URL, for instance), and provide a more intuitive user experience on item synchronization.

For more details on these particular changes, see the relevant Microsoft page . Or learn more about integrating Shopify with Business Central in our recent article.

Copilot Functionality in Business Central

There is a significant investment in new AI capabilities in Dynamics 365 Business Central, to assist workers in a wide range of roles.

Two of the key enhancements stand to improve the pace of onboarding for new users:

• Ease of Learning: Accessing detailed information about specific fields in Business Central will be available through single click, thanks to Copilot’s direct link to Microsoft Learn content relevant to specific fields.
• Natural Language Questions: In preview, Copilot will let your users ask questions directly to find the data or particular pages they need.

This update also includes assistance with creating Sales Lines: Copilot can guide users in creating sales lines on documents such as Sales Quotes, Orders, and Invoices. This can further free your people from spending time on manual input. Note that this specific “suggest sales lines” functionality is not being rolled out in Canada in release wave 1.

You can read more on Microsoft’s pages about the new AI developments in Business Central .

Changes to Dynamics 365 CRM in 2024 Release Wave 1

While this release wave includes changes across multiple applications in the Dynamics 365 CRM family (including Dynamics 365 Field Service, Customer Service, and Customer Insights), for now we’ll focus on highlights relating to Sales.

Automatic Notifications for Lead/Opportunity Assignment

This update enables automatic notifications in Dynamics 365 Sales when a lead or opportunity is assigned via a rule. These notifications are intended to address the common pain point for sales organizations of delays due to a lead or opportunity being accidentally left unassigned, or assigned but not noticed by the relevant salesperson.

We look forward to seeing how this new automation can help close those gaps. Learn more .

Updated Appearance of the User Interface

The new styling for the Dynamics 365 Sales UI is intended to be more modern and familiar, making it easier for salespeople to get their work done more efficiently in the app. You’ll notice drop shadows against a brighter background, and more rounded corners and consistent spacing in the command bar.

This change is automatically enabled in Sales, but you have an option to switch back to the classic appearance.

Copilot Natural Language Questions and Outlook Functionality

Also in Dynamics 365 Sales, there are several Copilot-related innovations, including allowing sellers to ask natural language questions about data in Sales, and giving quick summaries of contacts . At Encore, we’re using the new Copilot-generated “highlights” feature inside lead/opportunity records to see at a glance who’s interacted with a given person and how.

Note that this functionality is part of the normal Sales app license, and Microsoft sometimes refers to this kind of functionality as “Copilot in Dynamics 365 Sales.”

There is another group of AI functionality called “Copilot for Sales.” This functionality includes integrating your Sales data with Outlook email drafts and summaries . Copilot for Sales is a separate license, which also includes a Copilot for Microsoft 365 license. Please reach out to Encore for guidance on the best mix of licenses and functionality for your organization.

Changes to Dynamics 365 Finance & Operations in 2024 Release Wave 1

As with the rest of the Microsoft stack, we’re seeing significant development and investment in Copilot, but this wave release also includes a lot of other helpful functionality, including better management of information for transactions and manufactured products.

Product name clarification: Even though most customers, commentators, and consultants still call it Dynamics 365 Finance & Operations or D365FO, Microsoft now technically licenses it as Dynamics 365 Finance and Supply Chain Management .

Manufacturers: Track Components Together with Finished Goods via Serial and Batch Numbers

With this update, manufacturers can track the serial and batch numbers of components utilized in production orders and associate them directly with the serial and batch numbers of the finished products. This will assist with compliance and quality standards, as well as help with issues like warrantees and recalls. This functionality also works together with job management.

Accurate tracking plays a pivotal role in our manufacturing clients’ success, and we look forward to helping you effectively incorporate functionality like this into your technology and business processes.

More Granular Transaction Tracking with Financial Tags

As you may know, Dynamics 365 Finance & Operations has recently been rolling out “financial tag” functionality. Financial tags are intended to allow tracking of transaction-specific data, such as document numbers or master data, without expanding the number of dimensions (which can lead to decreased performance).

The recent update expands the usability of financial tags to accounting distributions for documents utilizing the source document accounting framework. It also now extends to various financial journals , including those for Bill of exchange, Promissory notes, and Advanced ledger entries.

By the way, we previously encountered a database-refresh problem that had to do with financial tags, but Microsoft has now resolved that problem through a late-April hotfix.

Copilot: Natural Language Questions and Receipt Matching Error Assistance

Copilot in Finance & Operations can simplify the user experience by enabling natural language queries for data retrieval and navigation. There are a lot of menus, pages, and records in the average Finance & Operations deployment, and Copilot may be very helpful in reducing the time spent to get to the pages and records you need. This includes “deep linking” to specific entity records.

This update also includes Copilot assistance to address errors occurring in vendor invoice automation. This should help accounts payable clerks to more quickly select invoices with errors, collect the relevant info, and fix the issue.

What’s Next?

Dynamics 365 solutions, Copilot, and the rest of the Microsoft stack continue to evolve quickly. We know it can be tough for customers to stay informed about everything.

Encore is committed to helping our customers identify and leverage the specific changes in each wave that are most relevant to them. To see all the changes for Dynamics 365 products in release wave 1, please see the Microsoft documentation .

If you have any questions about items in this release wave, or how to prepare strategically for future releases, please do reach out to your Encore account manager or simply contact us .

Do you have questions about all the different terms in D365FO? Check our glossary of the most commonly asked-about terms, with definitions and examples.

Glossary of D365 Finance & Operations Terms

The Encore Team

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Business process delegation updates for finance and human resources.

Beginning on Friday, May 24 , delegation will be enabled on several Workday business processes. Prior to this change, delegation was only enabled on time tracking and financial business processes.  These changes will make the functionality available to human resources business processes. 

  If you have a step in the process, you will be able to use the "Request Delegation" task to temporarily delegate your work to an appropriate individual because you will be out of the office or otherwise unavailable to complete or approve transactions in Workday. Delegation will be available for the business processes listed below.

• Add Additional Job  
• Assign Costing Allocation (Cost Center Manager was added with the position control project)   
• Change Job  
• Change Organization Assignments for Worker  
• Create Payroll Accounting Adjustments  
• Edit Position 
• Edit Position Restrictions  
• Job Requisition  
• Period Activity Pay  
• Request Compensation Change   
• Request One-Time Payment 

This expanded functionality offers the benefits of (1) a formalized process for assigning work to appropriate and responsible parties when planning time away and (2) assurance that your time-sensitive tasks have been appropriately delegated and can be managed in your absence, thereby providing peace of mind while away.

  Delegation requests should be for 30 days or less unless there are extenuating circumstances (e.g., employee on a leave of absence) that may require up to 180 days of delegation. Refer to the  delegation job aid  in the Administrative Resource Center for more information. Additionally, an enhancement was made to include the worker job profile on the "Delegations History - OSU" (Tableau Report). Please make sure to monitor the report monthly to ensure delegations are appropriate.  

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