Principles of Financial Accounting
Copyright Year: 2017
Publisher: University of North Georgia Press
Conditions of Use
The book does cover many of the beginning topics expected in an introductory financial accounting course, but this book was more tilted toward accounting. The book could have benefited by including a section on the International Accounting... read more
The book does cover many of the beginning topics expected in an introductory financial accounting course, but this book was more tilted toward accounting. The book could have benefited by including a section on the International Accounting Standards Board and IFRS vs GAAP.
The book was fairly accurate in the explanation of the topics, but some key explanations could have had a bit more structure. In some cases, some explanations were sporadically mentioned.
For this type of material, no significant changes typically occur; therefore, it would be easy to quickly update with new figures. Most of this material is the founding blocks of accounting so it could be updated easily.
The book's layout can be difficult to follow because it uses many combinations of tables, indents, partial financial statements, and different style formats. The step's of the full accounting cycle are not entirely evident. For this type of course, the layout is key to understanding the material.
Most of the terminology is consistent with the exception of a few areas (e.g., sales vs revenue, common stock)
The book had seven chapters which covered some very important topics; however some chapters such as Chapter 6: Stockholders' Equity could have had more sections to better explain the material.
On a top level the chapters were presented in a logical manner; however, the subheading material was often mixed and difficult to follow at times with the use of many charts. The different colors used in some tables also distracted from the material.
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. Some financial statements were too small.
Only found a few grammatical errors, some a few contractions. Page 2, for example, sates "they repairs" and "they no longer needs for his business"
No major issues on this front, only that maybe the example given on Learning by Doing on page 42 (I learned how to drive a standard transmission car.....) some females may find it a bit insensitive.
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. The book had good examples on accruals.
Table of Contents
- Chapter 1: Accounting Cycle for the Service Business-Cash Basis
- Chapter 2: Accounting Cycle for the Service Business-Accrual Basis
- Chapter 3: Accounting Cycle for a Merchandising Business
- Chapter 4: Assets in More Detail
- Chapter 5: Liabilities in More Detail
- Chapter 6: Stockholders' Equity in More Detail
- Chapter 7: Capstone Experiences
- Ancillary materials are available by contacting the author or publisher.
About the Book
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.
- Peer reviewed by academic professionals and tested by students
- Over 100 charts and graphs
- Instructional exercises appearing both in-text and for Excel
- Resources for student professional development
This textbook is an Open Education Resource. It can be reused, remixed, and reedited freely without seeking permission.
About the Contributors
Christine Jonick, Ed.D., is a professor of Accounting in the Mike Cottrell College of Business at the University of North Georgia. She has been with UNG for more than 25 years and received the Excellence in Online Teaching Award from UNG in 2016. Dr. Jonick serves as the chairperson of the American Accounting Association SE Member Engagement Committee and president and board of directors member of the Georgia Association of Accounting Educators.