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    Read more about Introduction to Financial Accounting: U.S. GAAP Adaptation

    Introduction to Financial Accounting: U.S. GAAP Adaptation

    (4 reviews)

    David Annand, Athabasca University

    Donna Marchand, Emmanuel College

    Henry Dauderis

    Copyright Year:

    Publisher: Lyryx

    Language: English

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    Reviewed by Amanda Daugherty, Assistant Professor, Grand View University on 12/27/21

    This textbook covers all of the topics normally covered in a principles of financial accounting textbook. There are good learning objectives listed for each chapter and a good brief summary of each learning objective at the end of each chapter. ... read more

    Reviewed by Heidi Derstine, Lecturer, James Madison University on 8/21/21

    The textbook is comprehensive in its coverage of all the usual material taught in an introductory financial accounting class. The concept self-check, summary of learning objectives and discussion questions all help the student assess their... read more

    Reviewed by Zlatinka Blaber, Assistant Professor of Accounting, Salem State University on 5/26/20

    The book contains 13 chapters - more than enough for a college semester of 10-15 weeks. It covers the accounting process, accounts, journal entries, ledgers, financial statements, financial statement analysis, and types of business entities, among... read more

    Reviewed by Lillian Grose, Assistant Professor, University of Holy Cross on 12/18/19

    The textbook covers all the important areas for a financial accounting class. There is no index or glossary in the PDF version of the book, but the table of contents is descriptive enough to allow navigation of the material. The online version... read more

    Table of Contents

    • Chapter 1: Introduction to Financial Accounting
    • Chapter 2: The Accounting Process
    • Chapter 3: Financial Accounting and Adjusting Entries
    • Chapter 4: The Classified Balance Sheet and Related Disclosures
    • Chapter 5: Accounting for the Sale of Goods
    • Chapter 6: Assigning Costs to Merchandise
    • Chapter 7: Cash and Receivables
    • Chapter 8: Long-lived Assets
    • Chapter 9: Debt Financing: Current and Long-term Liabilities
    • Chapter 10: Equity Financing
    • Chapter 11: The Statement of Cash Flows
    • Chapter 12: Financial Statement Analysis
    • Chapter 13: Proprietorships and Partnerships

    Ancillary Material

    • Lyryx
    • About the Book

      This textbook is an adaptation by D. Marchand and Athabasca University of the original text written by D. Annand and H. Dauderis. It is intended for use in entry-level college and university courses in financial accounting. A corporate approach is utilized consistently throughout the book.

      The adapted textbook includes multiple ancillary student and instructor resources. Student aids include solutions to all end-of-chapter questions and problems, and randomly-generated spreadsheet problems that cover key concepts of each chapter. These provide unlimited practice and feedback for students. Instructor aids include an exam bank, lecture slides, and a comprehensive end-of-term case assignment. This requires students to prepare 18 different year-end adjusting entries and all four types of financial statements, and to calculate and analyze 16 different financial statement ratios. Unique versions can be created for any number of individual students or groups. Tailored solutions are provided for instructors.

      Another version of the textbook written by D. Annand and adapted by T. Thompson, including .docx files and ancillary material, can be obtained upon request to D. Annand (

      About the Contributors


      David Annand, EdD, MBA, CPA (CA), is a Professor of Accounting in the Faculty of Business at Athabasca University. His research interests include the analysis of costs and organizational structure on distance-based universities. He has written several accounting-related undergraduate- and graduate-level texts, all available as open educational resources. David completed his Doctorate in Education in 1998. His thesis deals with the experiences of instructors in graduate-level computer conferences.

      Donna L. Marchand, CPA, is an Assistant Professor of Accounting at Emmanuel College in Boston. Prior to taking this position she worked as a full-time instructor at Wheaton College in Norton, MA, and played a key role in transitioning the Business and Management program into a fully open source program for students. Prior to this, she worked as Director of the Academic Achievement Center and full-time instructor at Bridgewater State University in Bridgewater, MA. Before transitioning into higher education she worked in public accounting. However, her career initially began in K-12 education, playing an integral role in launching a fully inclusive education program that became a state-wide model in New York State.

      Henry Dauderis

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