When reading the book chapters, some of the most challenging concepts for me to understand include the concept of bonds. Some of these concepts are challenging because they have many variables. For instance, there are several elements of bonds, including bonds issued at Par on interest date, bonds issued between interest rates, bonds issued at a discount, and bonds issued at a premium. Some of the concepts of calculating some of these bonds are also tricky and can thus easily confuse a person. Another concept of accounting that is challenging for me is that of transferring assets. Also, some of the concepts of granting equity interests were a bit challenging for me. The accounting for troubled debts is usually complex since the accounting standards allow for the utilization of different standards of measurements to determine the gain or loss reported. Similarly, sometimes the liabilities and assets are not stated at fair value or historical cost. This intricate accounting showcases the necessity for a holistic fair value model for financial instruments, which are consistent with finance concepts for pricing the financial instruments (Kieso et al., 2019).
Supplemental Materials
Fortunately, while I had some difficulties in understanding some of the concepts provided in the textbook, there have been several supplemental materials that I had used to familiarize myself with and thus gain a robust comprehension of the mechanisms and ideas behind them. For instance, among the most reliable supplemental videos have been YouTube videos of how calculations are made, and this practical and live depiction of some of these concepts has been immensely helpful as they create more engaging experiences than using print materials alone (Bevan, 2020). Other supplemental materials include online supplemental materials like different textbooks, articles, and other resources. Similarly, my fellow students were also helpful in making me understand and were also influential in the understanding process.
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References
Bevan, M . (2020). Why Videos are Important in Education. Retrieved 30 September 2020, from https://www.nextthoughtstudios.com/video-production-blog/2017/1/31/why-videos-are-important-in-education
Kieso, D. E., Weygandt, J. J., Warfield, T. D., Wiecek, I. M., & McConomy, B. J. (2019). Intermediate Accounting, Volume 2. John Wiley & Sons.
