***LOGIN REQUIRED*** Accounting covers accounting principles and practices, the complete accounting cycle and creation of financial reports. Use of the general journal and special journals, general ledger, accounts payable, accounts receivable and proper financial reporting.This course provides instruction in the basic accounting procedures used to operate a business including sole proprietorship, partnerships, and corporations. The accounting procedures presented will also serve as a sound background for employment in office jobs and preparation for further education and training. The complete accounting cycle is covered, students learn how to us generally accepted accounting principles to prepare, analyze, verify financial transactions, reports and economic information to make decisions for organizations.The course trains students in the basics of manual and computerized accounting. Students learn accounting topics including ethics, accounting principles, computing accounting, accounting terminology, job specific accounting, and clerical duties related to accounting. Students also gain real-world applications in income tax, personal finance, and stock market.
Introduction to accounting and financial reporting concepts and the significance of financial accounting information in decision-making. Emphasis on the accounting cycle; assets, liabilities, and stockholders' equity; and preparation of financial statements.
Accounting Principles: A Business Perspective uses annual reports of real companies to illustrate many of the accounting concepts in use in business today. Gaining an understanding of accounting terminology and concepts, however, is not enough to ensure your success. You also need to be able to find information on the Internet, analyze various business situations, work effectively as a member of a team, and communicate your ideas clearly. This text was developed to help you develop these skills.
1. Accounting and its use in business decisions
2. Recording business transactions
3. Adjustments for financial reporting
4. Completing the accounting cycle
5. Accounting theory
6. Merchandising transactions
7. Measuring and reporting inventories
8. Control of cash
9. Receivables and payables
10. Property, plant, and equipment
11. Plant asset disposals, natural resources, and intangible assets
12. Stockholders' equity: Classes of capital stock
13. Corporations: Paid-in capital, retained earnings, dividends, and treasury stock
14. Stock investments
15. Long-term financing: Bonds
16. Analysis using the statement of cash flows
17. Analysis and interpretation of financial statements
18. Managerial accounting concepts/job costing
19. Process: Cost systems
20. Using accounting for quality and cost management
21. Cost-volume-profit analysis
22. Short-term decision making: Differential analysis
23. Budgeting for planning and control
24. Control through standard costs
25. Responsibility accounting: Segmental analysis
26. Capital budgeting: Long-range planning
Reviews available here: https://open.umn.edu/opentextbooks/textbooks/accounting-principles-a-business-perspective
This video explains the various types of equity. It also illustrates an example of liabilities side of the Balance Sheet and a picture of the whole Balance Sheet in very simple terms.
This text, originally by D. Annand and H. Dauderis, is intended for a first course in introductory financial accounting. It has been extensively edited by Athabasca University and reflects current International Financial Reporting Standards (IFRS). A corporate approach is utilized versus beginning with a sole proprietorship emphasis and then converting to a corporate approach.
The text focuses on core introductory financial accounting topics that match pre-requisite requirements for students advancing to Intermediate Financial Accounting. Excluded are advanced topics that are covered in Intermediate Financial Accounting, such as leases and bond amortization.
The text covers all essential topics, including: the accounting cycle; merchandising; assigning costs to inventory; cash and receivables; property, plant and equipment; debt financing; equity financing; statement of cash flows; financial statement analysis; and proprietorships and partnerships.
Lyryx develops and supports open texts, with editorial services to adapt the text for each particular course. In addition, Lyryx provides content-specific formative online assessment, a wide variety of supplements, and in-house support available 7 days/week for both students and instructors.
Reviews of this title available here: https://open.umn.edu/opentextbooks/textbooks/introduction-to-financial-accounting-u-s-gaap-adaptation
The text covers introductory financial accounting topics. It contains 10 chapters and includes examples, discussion questions and comprehension problems. Homework solutions are available. Please contact the author Khloud Kourani at firstname.lastname@example.org - Passaic County Community College.
Excerpts remixed from the following textbooks:
Introduction to Financial Accounting by Henry Dauderis and David Annand edited by Athabasca University CC BY-NC-SA 3.0 https://open.umn.edu/opentextbooks/BookDetail.aspx?bookId=215
Accounting Principles: A Business Perspectiveby James Don Edwards, University of Georgia & Roger H. Hermanson, Georgia State University. Provided by: Endeavor International Corporation. Project: The Global Textbook Project
Accounting is the process of identifying, measuring, recording, and communicating an organization’s economic activities to users. Users need information for decision making. With an emphasis on the corporate form of business organization, this lesson will examine how financial transactions are analyzed and then reported using four financial statements: the income statement, statement of changes in equity, balance sheet, and statement of cash flows. This lesson introduces each statement using an example based on a fictitious corporate organization called Big Dog Carworks Corp.
Based on United States generally accepted accounting principles, this textbook was written by David Annand, EdD, MBA, CPA, CA, and Professor of Accounting in the Faculty of Business at Athabasca University. It was adapted by Teresa Thompson of Mission College, Santa Clara CA.
Text chapters are as follows:
1. Introduction to Financial Accounting
2. The Accounting Process
3. Financial Accounting and the Use of Adjusting Entries
4. The Classified Balance Sheet and Related Disclosures
5. Accounting for the Sale of Goods
6. Assigning Costs to Merchandise
7. Cash and Receivables
8. Long-lived Assets
9. Debt Financing: Current and Non-current Liabilities
10. Debt Financing: Bonds
11. Equity Financing
12. Proprietorships and Partnerships
13. Financial Statement Analysis
14. The Statement of Cash Flows
The material also includes multiple ancillary student resources: a solutions manual for all text questions, a full index, and a student workbook. Students can print outlines for answers to any questions as they need them and fill in responses manually. All of this material is able to be printed on demand in whole or in part.
The text and solutions manual are also available as a combined .pdf file for onscreen viewing. The material is fully bookmarked. All questions and problems are hyper-linked to related solutions. In addition there are links to randomly-generated Excel® problems at the end of each chapter. These cover key concepts, and provide unlimited practice and feedback.
Instructor resources include an assignment and exam bank, and PowerPoint® slides. All text, solutions manual, and student workbook material is available in .docx format for instructors to customize if desired. The material is freely-adaptable and shareable under a CC-BY-SA-NC licence.
A comprehensive, end-of-term case is also available (Jensen Wholesalers Corp.). This requires students to prepare 18 different year-end adjusting entries and all four types of financial statements, and calculation and analysis of 16 different financial statement ratios. Tailored solutions are provided for instructors. An example is included on this webpage. Unique versions can be created for any number of individual students or groups.
This case, and the assignment and exam bank are available upon request to email@example.com.
The Introductory Financial Accounting digital course enhancements is a comprehensive, open access resource for accounting instructors to adopt in whole or in part and is designed to support flexibility for faculty and students.
The main textbook is OpenStax’s Principles of Accounting: Volume 1: Financial Accounting
Learning Outcomes for the Course: Each module can be linked to the following student-learning outcomes. Within each module, the module outcomes indicate linkage to these overall course outcomes.
Course Outcome 1 (CO 1) - Recognize basic accounting terminology.
Course Outcomes 2 (CO 2) - Apply the accounting cycle steps and procedures within the accounting system.
Course Outcome 3 (CO 3) - Create and analyze the financial statements prepared in accordance with generally accepted accounting principles (GAAP).
Course Outcome 4 (CO 4) - Discuss the challenges, limitations and ethics of financial accounting.
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. Due to the comprehensive nature of the material, we are offering the book in two volumes. This book is specifically designed to appeal to both accounting and non-accounting majors, exposing students to the core concepts of accounting in familiar ways to build a strong foundation that can be applied across business fields. 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. Students are immersed in the “why” as well as the “how” aspects of accounting in order to reinforce concepts and promote comprehension over rote memorization.
1. Role of Accounting in Society
2. Introduction to Financial Statements
3. Analyzing and Recording Transactions
4. The Adjustment Process
5. Completing the Accounting Cycle
6. Merchandising Transactions
7. Accounting Information Systems
8. Fraud, Internal Controls, and Cash
9. Accounting for Receivables
11. Long-Term Assets
12. Current Liabilities
13. Long-Term Liabilities
14. Corporation Accounting
15. Partnership Accounting
16. Statement of Cash Flows
17. Answer Key
The University of North Georgia Press and Affordable Learning Georgia bring you Accounting I. Well-written and straightforward, Principles of Financial Accounting is a needed contribution to open source pedagogy in the business education world. Written in order to directly meet the needs of her students, this textbook developed from Dr. Christine Jonick’s years of teaching and commitment to effective pedagogy.
Various file formats available here: https://oer.galileo.usg.edu/business-textbooks/7/