Financial Accounting Textbook (Full BookReview)

By Direct Knowledge

Thinking about studying accounting, but don’t know where to start? Financial Accounting will be your guide. The textbook breaks down essential concepts and practices for beginners, including introductory undergraduate and MBA students.

Financial Accounting

Financial Accounting is a textbook designed for early-level accounting students. While accounting may seem daunting and complicated to some students, this book makes it easy to follow and understand. For example, it uses plain language to explain challenging concepts, such as cost and depreciation, assets, equity, cash flow, and liabilities. The textbook introduces this terminology gradually so readers can digest it fully. It poses each chapter title as a question to get students thinking. This also makes the book a quick reference guide for readers to return to.

Plus, Financial Accounting not only teaches background information, but the practice, as well. Readers will come away with an idea of what an accounting career could be like. For instance, the book explains bookkeeping, balancing sheets and, most importantly, managing financial statements. It also stresses the importance of financial statements and goes in depth into each part. In addition, it goes into hypothetical situations (which become real once you are in the field), such as communicating with clients and dealing with uncertainty.

Chapters of Financial Accounting Textbook

1: Why Is Financial Accounting Important?

2: What Should Decision Makers Know To Make Good Decisions about an Organization?

3: In What Form Do Accountants Deliver Financial Information to Decision Makers Such as Investors and Creditors?

4: How Does an Organization Accumulate and Organize the Information Necessary to Prepare Financial Statements?

5: Why Must Accountants Adjust Financial Information Prior to the Production of Financial Statements?

6: Why Should Decision Makers Trust Financial Statements?

7: What Information Do Financial Accounting Statements Make about Receivables?

8: How Does a Company Gather Information about Its Inventory?

9: Why Does a Company Need a Cost Flow Assumption in Reporting Inventory?

10: What Information Does a Set of Financial Statements Convey about Property and Equipment?

11: … about Intangible Assets?

12: … about Equity Investments?

13: … about Current and Contingent Liabilities?

14: What Information Does a Set of Financial Accounting Statements Convey about Noncurrent Liabilities Such as Bonds?

15: … about Other Noncurrent Liabilities?

16: … about Shareholders’ Equity?

17: … by the Statement of Cash Flows?

The author of Financial Accounting was removed at request of the publisher.

Publisher: University of Minnesota Libraries Publishing
License: Attribution-NonCommercial-ShareAlike

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