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.
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.
This textbook uses of T-accounts and diagrams to make the concepts become clearer for students. For a fee there are also videos through the OpenStax app. The textbook provides a thorough overview of the accounting system.
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 pdf financial accounting study guide 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.
These resources are ideal for students, professionals, and anyone interested in delving deeper into this field. Discover the exciting world of Financial Accounting with our selection of free PDF books. The Class 12 CBSE syllabus for Accountancy plays a crucial role in board exams and competitive exams like CUET.
No, there are not quizzes, homework assignments, or in-class work available. Supposedly, these materials exist in the user community, yet I was unable to locate or obtain them. This remains a stumbling block (in my mind) to adoption. David Annand, EdD, MBA, CA, is a Professor of Accounting in the Faculty of Business at Athabasca University.
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.
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.
There are too many chapters (provides options for instruction who emphasize certain chapters over others) but a concern is the way the text is constructed. The format and layout of the book chapters are consistent. All users will quickly understand the format as it is applied the same to each chapter. This helps provide consistency for students learning introductory accounting. Basic accounting concepts have not changed for a long time. For that reason, open source texts such as this one should be more widely used.
There did not appear to be any problem with navigation or other displays such as charts and graphs. Looking at this from the context of a non-native English speaker, some of the language or vocabulary would be difficult to comprehend. Words such as ancillary even though explained later, might turn off a reader who already struggles with the language. The sections of the text make it possible to assign various modules and to stop and lecture and problem solve based on those sections.
This textbook has all of the content that I cover with the publisher textbook that I have used for the past 6 years. This text is straight forward and focused on the subject of financial accounting. Also, really liked how debits and credits are brought into the discussion of the accounting equation early.
Also financial statement analysis is an integral part of financial accounting, I suggest introducing ratios to respective chapter where they are more relevant. For examples introduce inventory management ratios in the chapters that deals with inventory. Introduction to Financial Accounting (Second Edition), is a comprehensive resource that covers essential concepts of financial accounting, including definitions, principles, and financial statements. Each chapter is divided into subsections that may be individually assigned if that is more appropriate for a class than assigning the entire chapter. For example, a chapter on Fraud, Internal Controls, and Cash has seven subsections; one on Petty Cash and another one on Bank Reconciliations.
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.
✔ Alignment with Accounting Standards—Accounting policies should reflect the latest ICAI guidance, avoiding outdated practices. Align accounting policies with the new guidance Application of accounting standards compliance is now essential, including AS 18—Related Party Transactions and AS 29—Contingent Liabilities. I did not find any culturally insensitive or offensive content in this textbook. Each chapter is broken into smaller, easily digested sections. Although chapters 1-5 must be presented in sequential order since we are discussing a sequence of events in an accounting cycle, the others can easily be moved around in terms of order presented. The topics are presented in a logical and clear fashion.
Salima Holdings Pty Ltd
PO Box 345, Seven Hills NSW 1730
Unit 2, 6 Bonz Place, Seven Hills NSW 2147