Principles of Accounting Volume 1 Financial Accounting Open Textbook Library

Instructors will find the text format friendly to semester-long class as concepts broken down into 13 chapters. The chapters explain the learning outcomes, use examples to express concepts, with chapter summary at end. The topics included are consistent with intro accounting courses. It contains excellent explanations of concepts such as the differences/similarities between revenue and gains. For those very familiar with accounting, the ordering of the concepts in financial accounting textbooks seems to make sense.

List physical inventory by item number, name, description, type, and location, and record purchases, including purchase dates, vendors, and prices. Compare the number of items sold to your monthly sales figures to make sure your inventory tracking sheet matches actual sales. Save time on invoicing with qualitative characteristics of financial statements this basic billing template.

Payroll Register Template

1. The extra information is helpful for students wanting extra practice.
2. That is the only cultural relevance which is relevant to introductory financial accounting.
3. One of the pros of this approach is that the student gets exactly what is needed.
4. This creates a lot of confusion in some of the students.

Chapter 1, which in my opinion is the mostimportant chapter in the introductory course is very condensed and tooambitious. Chapter 1 can be presented differently with a lighter coverage sothat the students do not get discouraged. Also, Chapter 4 is twice the lengthof the other chapters and contains very condensed material. Chapters 3 and 6are half of the length of the other chapters. It is hard to provide a good modularity andstructure if the SLOs of every chapter are not clearly stated. I ampositive that the instructor can easily adapt this work to any changes, whichoverall makes this text stand the test of time.

Expense Report Template

Reconcile a financial account by creating a record of transactions to compare to your bank statement. This reconciliation template includes sections for recording deposits in transit and outstanding checks, and it automatically calculates your statement balance. Duplicate the template to create a continuous monthly report.

Bookkeeping Forms

There are many exercises and problems for students to use in the application of the material. The “Think it Through” sections in the chapter will provide some good fodder for discussion. I’m always looking for a way to not be lecturing but discussing. Real life examples are presented in a way that most students have encountered in their life. This has been the way I’ve been teaching and this book will be a good resource to further enhance my lectures. I appreciate the textbook’s focus on accounting and business principles.

Course content

It can be reused, remixed, and reedited freely without seeking permission. Depending on the course, an instructor could utilize just the sections of the text that pertain to the course. To the contrary, the graphics and flow charts break up the material very nicely. Not too long with out breakup diagrams or examples etc. I noticed a few typo-graphical errors but overall the text is well-written grammatically. In my limited review I did not find any grammatical errors.

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. An issue that may arise when adopting this textbook…there is an appalling lack of publisher-provided ancillaries.