Introduction to Financial Accounting is intended for a first course in introductory financial accounting. It has been extensively edited by Athabasca University and reflects current International Financial Reporting Standards (IFRS). A corporate approach is utilized versus beginning with a sole proprietorship emphasis and then converting to a corporate approach.
The textbook focuses on core introductory financial accounting topics that match pre-requisite requirements for students advancing to Intermediate Financial Accounting. Excluded are advanced topics that are covered in Intermediate Financial Accounting, such as leases and bond amortization.
The textbook covers all essential topics, including: the accounting cycle; merchandising; assigning costs to inventory; cash and receivables; property, plant and equipment; debt financing; equity financing; statement of cash flows; financial statement analysis; and proprietorships and partnerships.
This open book is licensed under a Creative Commons License (CC BY-NC-SA). You can download Introduction to Financial Accounting ebook for free in PDF format (3.5 MB).
Table of Contents
Introduction to Financial Accounting
The Accounting Process
Financial Accounting and Adjusting Entries
The Classified Balance Sheet and Related Disclosures
Accounting for the Sale of Goods
Assigning Costs to Merchandise
Cash and Receivables
Debt Financing: Current and Long-term Liabilities
The Statement of Cash Flows
Financial Statement Analysis
Proprietorships and Partnerships
Solutions To Discussion Questions
Solutions To Exercises
Solutions To Problems