Due to the comprehensive nature of the material, we are offering the book in two volumes. Each chapter opens with a relatable real-life scenario for today’s college student. Thoughtfully designed examples are presented throughout each chapter, allowing students to build on emerging accounting knowledge. Concepts are further reinforced through applicable connections to more detailed business processes.
#6 Accounting Principles: A Business Perspective
The authors used the year 2015 in most of the problem and examples. This might make the text “seem” out-of-date in a few years. I appreciate how the Statement of Cash Flows has a separate chapter towards the end of the book. Might be better to wait until that chapter instead of also discussing it in Chapter One…..lots of material for opening week…. However, students might find a glossary helpful, as well as an index.
Upon careful review, I found no apparent or obvious errors were detected in the content. I quite enjoy reading the book and feel the information presented is thoroughly checked and consistently reliable. I incorporated some exercises from this book into my current classes, and they proved to be highly effective. I did an intensive reading of one chapter for class preparation, I did not identify any errors. I found the grammar to be very clear, concise and very effective. The textbook is very clearly divided into separable modules, making it easy for both students to read and for instructors to choose which modules to include in their course.
Principles of Accounting Volume 1 Financial Accounting
I find a coherent and connected learning experience when I scanned the whole book and when I intensively read a few of the chapters. As with all other OpenStax offerings, modularity is an area in which this textbook shines. It would be easily possible to assemble a survey course combining topics from this book and the second offering (Principles of Managerial Accounting) to create a one-semester offering. Basic principles are introduced in the proper sequence, and the authors clearly present the topics in the expected manner. Financial Accounting is a key discipline for understanding, analyzing, and managing the financial information of any organization. I noticed a few typo-graphical errors but overall the text is well-written and accurate.
I appreciate the textbook’s focus on accounting and business principles. The content is tailored to provide comprehensive insights into accounting practices and their applications in the business world without perpetuating cultural insensitivity. I feel that the chapters in this textbook are effectively structured with well-defined subsections. Each chapter is thoughtfully organized into digestible segments, allowing readers to navigate through the material with ease.
It contains pdf financial accounting study guide excellent explanations of concepts such as the differences/similarities between revenue and gains. The primary issue I see with the text (as with other financial accounting texts) is how quickly it assumes students understand concepts of revenues/expenses, the function of accounts, and cash vs. accrual accounting. For those very familiar with accounting, the ordering of the concepts in financial accounting textbooks seems to make sense. However, if one takes a step back and thinks about what students might be struggling with, one can quickly see how fast these texts expect students to make leaps in their understanding.
Analysis Tools
No unexpected jumps in difficulty nor lapses in topic coverage. His thesis deals with the experiences of instructors in graduate-level computer conferences. This test is very consistent with the framework that is set up by the authors in the beginning of the text. It is my opinion that the clarity of this text is very high. The authors are succinct and use visuals often to highlight the theoretical structures.
CAs need to ensure strict adherence to the revised format and disclosure requirements while preparing financial statements. The mandatory adoption of uniform formats and enhanced disclosures will bring greater transparency and standardization. There are many format options that are common to OpenStax textbooks that make this book a very accessible and usable book.
There did not appear to be any problem with navigation or other displays such as charts and graphs.
For the most part the text are presented in a logical, clear fashion.
I think the content of this textbook is up-to-date content because it aligns well with the one I am using.
It has a 2019 copyright and is up-to-date with current financial accounting fundamentals. I do think that in its next update, some consideration should be given to the evolution of the CPA exam and the emphasis on data analytics. Also, some problem-solving with MS Excel would be a nice addition to the text. This book covers all the same topics that I would cover in an Accounting I course. The chapters could be more progressive building off of each other better.
It is my preference to teach introductory students that revenues and expenses are distinct and separate from equity, and then explain that revenues and expenses ultimately get closed to equity.
Some chapters are not organized naturally (e.g. AIS.) The student is learning about inventory and then immediately accounting information systems in the next chapter.
It delves quite a bit into the “why” of accounting which is sometimes glossed over in favor of mechanics in other texts.
I read a couple of chapters in greater depth and find the textbook offers remarkable clarity, making complex concepts easily understandable for readers.
Learning Outcomes Checklist
The small incremental changes made in the basic structure of accounting do not warrant the frequent new editions that publishers try to push through. The only elements that would need to be updated may be the dates after a period of time so that they are more current and perhaps a few of the examples. The basic accounting elements however will not become obsolete and will remain relevant for the foreseeable future. This text lays out the basic accounting foundation in the first five chapters. The publisher book I have used does it in 4 chapters. Having more chapters is a plus especially if your student struggle with the basic concepts.
I commend the authors for making something of this caliber freely available. The content within the chapters can be broken-down and assigned as instructor plans for the course length. The manner is which the material is presented flows easily as reading.
As noted, I like the fact they are introducing accounting information systems which is an important topic. My reviewed resulted in highest marks regarding accuracy. It is my preference to teach introductory students that revenues and expenses are distinct and separate from equity, and then explain that revenues and expenses ultimately get closed to equity. So, this is not an inaccuracy by the authors, just a point that some instructors may want to know before adopting the textbook. Principles of Accounting is designed to meet the scope and sequence requirements of a two-semester accounting course that covers the fundamentals of financial and managerial accounting.
As I mentioned previously, chapter 2 makes the assumption that students already grasp at this early stage what revenues and expenses are and the differences between cash and accrual accounting. One concern that I have with any accounting textbook is whether there will be a homework system that the students can benefit from and that makes grading homework an easy process. With the books that I use in my courses (McGraw-Hill, Wiley, and Pearson), I rely heavily on the LMS platforms that the publisher provides.
IFRS accounting standards at a glance, this document serves as a comprehensive overview of International Financial Reporting Standards (IFRS) as of December 31, 2023. It outlines key standards and interpretations relevant for financial accounting, making it a crucial resource for professionals seeking to understand current IFRS requirements and the… Explore our collection of free books, covering everything from basic concepts to advanced analysis of financial statements, audits, and accounting regulations. This book is specifically designed for both accounting and non-accounting majors, explaining the core concepts of accounting in familiar ways to students.
Due to the comprehensive nature of the material, we are offering the book in two volumes. Each chapter opens with a relatable real-life scenario for today’s college student. Thoughtfully designed examples are presented throughout each chapter, allowing students to build on emerging accounting knowledge. Concepts are further reinforced through applicable connections to more detailed business processes.
#6 Accounting Principles: A Business Perspective
The authors used the year 2015 in most of the problem and examples. This might make the text “seem” out-of-date in a few years. I appreciate how the Statement of Cash Flows has a separate chapter towards the end of the book. Might be better to wait until that chapter instead of also discussing it in Chapter One…..lots of material for opening week…. However, students might find a glossary helpful, as well as an index.
Upon careful review, I found no apparent or obvious errors were detected in the content. I quite enjoy reading the book and feel the information presented is thoroughly checked and consistently reliable. I incorporated some exercises from this book into my current classes, and they proved to be highly effective. I did an intensive reading of one chapter for class preparation, I did not identify any errors. I found the grammar to be very clear, concise and very effective. The textbook is very clearly divided into separable modules, making it easy for both students to read and for instructors to choose which modules to include in their course.
Principles of Accounting Volume 1 Financial Accounting
I find a coherent and connected learning experience when I scanned the whole book and when I intensively read a few of the chapters. As with all other OpenStax offerings, modularity is an area in which this textbook shines. It would be easily possible to assemble a survey course combining topics from this book and the second offering (Principles of Managerial Accounting) to create a one-semester offering. Basic principles are introduced in the proper sequence, and the authors clearly present the topics in the expected manner. Financial Accounting is a key discipline for understanding, analyzing, and managing the financial information of any organization. I noticed a few typo-graphical errors but overall the text is well-written and accurate.
I appreciate the textbook’s focus on accounting and business principles. The content is tailored to provide comprehensive insights into accounting practices and their applications in the business world without perpetuating cultural insensitivity. I feel that the chapters in this textbook are effectively structured with well-defined subsections. Each chapter is thoughtfully organized into digestible segments, allowing readers to navigate through the material with ease.
It contains pdf financial accounting study guide excellent explanations of concepts such as the differences/similarities between revenue and gains. The primary issue I see with the text (as with other financial accounting texts) is how quickly it assumes students understand concepts of revenues/expenses, the function of accounts, and cash vs. accrual accounting. For those very familiar with accounting, the ordering of the concepts in financial accounting textbooks seems to make sense. However, if one takes a step back and thinks about what students might be struggling with, one can quickly see how fast these texts expect students to make leaps in their understanding.
Analysis Tools
No unexpected jumps in difficulty nor lapses in topic coverage. His thesis deals with the experiences of instructors in graduate-level computer conferences. This test is very consistent with the framework that is set up by the authors in the beginning of the text. It is my opinion that the clarity of this text is very high. The authors are succinct and use visuals often to highlight the theoretical structures.
CAs need to ensure strict adherence to the revised format and disclosure requirements while preparing financial statements. The mandatory adoption of uniform formats and enhanced disclosures will bring greater transparency and standardization. There are many format options that are common to OpenStax textbooks that make this book a very accessible and usable book.
There did not appear to be any problem with navigation or other displays such as charts and graphs.
For the most part the text are presented in a logical, clear fashion.
I think the content of this textbook is up-to-date content because it aligns well with the one I am using.
It has a 2019 copyright and is up-to-date with current financial accounting fundamentals. I do think that in its next update, some consideration should be given to the evolution of the CPA exam and the emphasis on data analytics. Also, some problem-solving with MS Excel would be a nice addition to the text. This book covers all the same topics that I would cover in an Accounting I course. The chapters could be more progressive building off of each other better.
It is my preference to teach introductory students that revenues and expenses are distinct and separate from equity, and then explain that revenues and expenses ultimately get closed to equity.
Some chapters are not organized naturally (e.g. AIS.) The student is learning about inventory and then immediately accounting information systems in the next chapter.
It delves quite a bit into the “why” of accounting which is sometimes glossed over in favor of mechanics in other texts.
I read a couple of chapters in greater depth and find the textbook offers remarkable clarity, making complex concepts easily understandable for readers.
Learning Outcomes Checklist
The small incremental changes made in the basic structure of accounting do not warrant the frequent new editions that publishers try to push through. The only elements that would need to be updated may be the dates after a period of time so that they are more current and perhaps a few of the examples. The basic accounting elements however will not become obsolete and will remain relevant for the foreseeable future. This text lays out the basic accounting foundation in the first five chapters. The publisher book I have used does it in 4 chapters. Having more chapters is a plus especially if your student struggle with the basic concepts.
I commend the authors for making something of this caliber freely available. The content within the chapters can be broken-down and assigned as instructor plans for the course length. The manner is which the material is presented flows easily as reading.
As noted, I like the fact they are introducing accounting information systems which is an important topic. My reviewed resulted in highest marks regarding accuracy. It is my preference to teach introductory students that revenues and expenses are distinct and separate from equity, and then explain that revenues and expenses ultimately get closed to equity. So, this is not an inaccuracy by the authors, just a point that some instructors may want to know before adopting the textbook. Principles of Accounting is designed to meet the scope and sequence requirements of a two-semester accounting course that covers the fundamentals of financial and managerial accounting.
As I mentioned previously, chapter 2 makes the assumption that students already grasp at this early stage what revenues and expenses are and the differences between cash and accrual accounting. One concern that I have with any accounting textbook is whether there will be a homework system that the students can benefit from and that makes grading homework an easy process. With the books that I use in my courses (McGraw-Hill, Wiley, and Pearson), I rely heavily on the LMS platforms that the publisher provides.
IFRS accounting standards at a glance, this document serves as a comprehensive overview of International Financial Reporting Standards (IFRS) as of December 31, 2023. It outlines key standards and interpretations relevant for financial accounting, making it a crucial resource for professionals seeking to understand current IFRS requirements and the… Explore our collection of free books, covering everything from basic concepts to advanced analysis of financial statements, audits, and accounting regulations. This book is specifically designed for both accounting and non-accounting majors, explaining the core concepts of accounting in familiar ways to students.
