Intermediate Financial Accounting Volume 1

Reviewed by Michelle Kleeberger, Accounting Instructor, Dakota County Technical College on 10/14/24

Comprehensiveness rating: 5 see less

This OER text provides in-depth coverage of key accounting concepts used in Canada and the format follows a similar structure as others on the market. It also includes exercises, exams and solutions.

Content Accuracy rating: 5

The information in the text appears to be accurate.

Relevance/Longevity rating: 5

The book is structured so that it can easily be updated with accounting changes. This book has been updated 4 times since publishing.

Clarity rating: 5

The text is clear, concise and uses proper accounting terminology.

Consistency rating: 5

The format is easy to follow. Each chapter has learning objectives separated and subsections within each (when needed).

Modularity rating: 5

It is easy to locate the start of each chapter which includes a real-world example of where the chapter is headed.

Organization/Structure/Flow rating: 5

Text is well organized and the structure is similar to others on the market.

Interface rating: 5

Interface is basic and easy to navigate.

Grammatical Errors rating: 5

I did not find any grammatical errors.

Cultural Relevance rating: 5

The text provides many real-world examples using a variety of companies experiences.

Comments

This book is well done and contains information you would find in other accounting texts. It includes information from the Chartered Professional Accountants of Canada (CPA Canada), Accounting Standards Board (AcSB), Accounting Standards Oversight Council (AcSOC), International Financial Reporting Standard (IFRS), International Accounting Standards Board (IASB) and the Accounting Standards for Private Enterprises (ASPE). I would not use this book for my course offered in the United States as it is geared towards Canadian Accountants.

Reviewed by Lucy Lim, Associate Professor, Howard University on 12/14/20, updated 12/22/20

Comprehensiveness rating: 4 see less

Topics covered are similar to the standard textbook.

Content Accuracy rating: 5

No comment since I am not familiar with Canadian standard.

Relevance/Longevity rating: 4

As with other accounting books, every time the standard changed then the book need to be updated. I cannot comment much since I am not familiar with the Canadian standard.

Clarity rating: 4

Pretty clear so far when I read it, some are similar to US GAAP.

Consistency rating: 4

So far I do not see any inconsistency.

Modularity rating: 5

This book is much shorter compared to the usual intermediate book in the market. Considering the complex nature of intermediate accounting, it is great to have a short summary of it while keeping the important details in.

Organization/Structure/Flow rating: 4

I would love to see more classification than just lesson for each topic. Highlight the important things.

Interface rating: 4

Interface is OK but can be improved. Maybe include a search function? Each lesson is kept short, however having a search function or more subheadings may make finding materials easier and faster.

Grammatical Errors rating: 5

So far I do not see any problems.

Cultural Relevance rating: 5

I do not see any insensitive or offensive materials.

Comments

Should have stated up front that it covers the Canadian standard and IFRS instead of US GAAP in Vol 1 of the book too. The number of exercises cannot be compared with the standard textbook. I like that it has a review of the financial principle at the beginning so you can choose what to assign. I think more of the review exercises should be placed on the accounting cycle since that is the basic accounting and will make life much easier later on when students understand this. It is great that the book provides videos, but I was unable to see the closed captions. I think it will be nice to have minute markers on the longer videos so that if one wants to go to a certain part of a video, it is easier to go to.