This CPE course is designed to introduce CPAs to the concept of mental models and how they can be used to sharpen critical thinking and improve ethical, problem-solving and decision-making skills in the accounting profession. Participants will learn about a variety of mental models, including the Map is Not the Territory, First Principles, and the 80/20 Rule, and how to apply them to financial situations. The course will also cover the importance of building a latticework of mental models and the limitations of mental models.

Learning Objectives:

Upon successful completion of this course, you will be able to:

• Distinguish between mental models and explain their importance in decision-making
• Identify and describe a variety of mental models
• Apply mental models to financial situations
• Recognize the importance of building a latticework of mental models
• Recognize the limitations of mental models and seek out additional information as needed
• Analyze case studies demonstrating the use of mental models in financial decision-making
• Develop strategies for continuing to learn and expand your mental model toolkit

Topics Covered:

• Introduction to mental models
• Examples of mental models and their applications in behavioral ethics
• Building a latticework of mental models
• Limitations of mental models
• How to apply mental models to the accounting profession
• Case studies demonstrating the use of mental models in financial decision-making
• Strategies for continuing to learn and expand your mental model toolkit

Who Will Benefit/Target Audience:

This course is intended for CPAs and other accounting professionals who want to sharpen their critical thinking and improve their ethical, problem-solving and decision-making skills.

Prerequisite Knowledge

Basic knowledge of accounting principles and practices is recommended but not required for this course.