The content of this textbook matches the content and organization of most introductory financial accounting textbooks. It is written by Canadian authors, but is relevant to US students. what does capitalizing assets mean chron com The records of these events are then summarized into the primary financial statements.
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The layout of the tables, graphs, pictures sort of distracted from the material. Also, some tables seemed to overshadow other tables since they were crunched together. The textbook is clear and written in a direct manner without a lot of fluff. Some students will prefer this while others may like more verbiage. Terms are kept consistent throughout the book, which will help the students keep up.
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Based on the sample of examples that I picked; it does not appearto have any errors in calculations. 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. Also, really liked how debits and credits are brought into the discussion of the accounting equation early.
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Combing chapter 1 and 2 and combining chapter 12 and 13 can reduce the number of chapters from 16 to 14. 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. On this page, you’ll find many bookkeeping templates, including a cash book template, a business expense spreadsheet, a statement of account template, and an income statement template. The book was on financial accounting, which traditionally has served as the building blocks for understanding accounting and finance. When compared to other similar textbooks; although, this book covers many of the same topics the manner in which the book delivered and laid out the concepts was not as clear.
- Included are completed manual bookkeeping examples and a mini guide for single entry and double entry bookkeeping.
- The spreadsheet includes monthly columns for recording forecasted and actual cash flow.
- I did an intensive reading of one chapter for class preparation, I did not identify any errors.
- 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.
The text reading follows typical financial accounting flow. Beginning with the foundational introduction to what accounting is through the full accounting cycle, while including financial statement analysis towards the end of the book. Students will find the format helpful; the voice is student-friendly.
For those who are familiar with Financial Accounting, the index and glossary are sufficiently detailed. The fact that the text is so comprehensive is both a positive and a negative. It is positive in the sense that it has essentially every topic that you may want to cover in an introductory course. For newer instructors however it may be a bit daunting to distill the content down to what is most essential to cover in an introductory course. The text has some content that is more relevant to courses such as Accounting Information Systems, Financial Management, and Intermediate Accounting.
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As noted, I like the fact they are introducing accounting information systems which is an important topic. I think the organization of this textbook is both logical and systematic. Each chapter unfolds in a coherent manner, with a clear progression of ideas and concepts.
I noticed no specific bias in the writing or examples. I am excited to use this textbook in my courses this next year. I plan on creating my own videos and exam problems to expand the course. I will also create a Canvas course that I am will to share. There is much consistency between the chapters in terms of how they are structured.
If you want to concentrate on one or more of these topics rather than the entire chapter, it is very easy to do. This also makes the reading more comprehensive and easier for the students who cannot finish the reading assignment at one time. This textbook covers all areas that I would expect to see in an Accounting 1 course. There are many examples presented that make the material easierfor accounting and non-accounting students to understand.