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Any significant accounting changes will be updated and the examples will not be outdated. I appreciate the textbook’s focus on accounting and business principles. The content is tailored to provide comprehensive insights into accounting practices and their applications in the business world without perpetuating cultural insensitivity. Track all of your invoices with this simple spreadsheet.

It has a 2019 copyright and is up-to-date with current financial accounting fundamentals. I do think that in its next update, some consideration should be given to the evolution of the CPA exam and the emphasis on data analytics. Also, some problem-solving with MS Excel would be a nice addition to the text. As with all other OpenStax offerings, modularity is an area in which this textbook what is a good return on investment shines. It would be easily possible to assemble a survey course combining topics from this book and the second offering (Principles of Managerial Accounting) to create a one-semester offering. Used when moving accounts to new software or to confirm year-end balances.

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These forms are useful as templates for self-employed people or treasurers of clubs, or small start-up businesses who are keen to maintain a complete or partial manual bookkeeping system. Some of the bookkeeping and accounting forms listed here have been pulled together for easy access from various parts of this site. The examples and text appear to be reasonably accurate. Any minor typographical errors or numerical inaccuracies should be easily spotted by an instructor with accounting background, and could actually be used to work error correction with the students. 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 you receive an 18 discount early.

Quarterly Cash Flow Projections Template

After reviewing the book, and the accompanying resources I will consider adopting it for use in my classes. If not as prepaid rent prorated rent what you need to know a primary resource, I will recommend the source as an additional reading option for my students. Just by revising the examples, the book can be easily updated.

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1. Most of this material is the founding blocks of accounting so it could be updated easily.
2. See at a glance how many sales have been made to each customer in date order.
3. This book covers all the same topics that I would cover in an Accounting I course.
4. This sheet displays the accounting equationwith a short description of each category.
5. Lastly, the textbook does notprovide practice exercises as customary of financial accounting textbooks.

This textbook covers all the topics that are typically taught in a principles offinancial accounting course. The instructor or student who will use it will findgreat material including very well explained examples. Nonetheless, I thinkthe book includes more topics than should be included in an introductoryfinancial accounting text. In addition, some of the topics are presented with alevel of detail that is, in my opinion, beyond the scope of an intro-levelcourse. I would categorize this text as an “augmented” principles of financialaccounting book. This textbook covers a very comprehensive view of financial accounting in just 7 chapters.

There didn’t seem to be any display features that would distract the normal reader. There was an issue with the embedded charts and graphs. These are not acceptable for the reading impaired, and it was necessary to retype them when using them for assignments. It would also be great to have page numbers included for students using the online version of the book.

Some chapters are not organized naturally (e.g. AIS.) The student is learning about inventory and then immediately accounting information systems in the next chapter. I like the content in the chapter but either early on as a basis for understanding tools that accountants use or at the end. In teaching from this book – I would be forced to skip chapters and introduce chapters out of order. There are too many chapters (provides options for instruction who emphasize certain chapters over others) but a concern is the way the text is constructed.