Principles Of Accounting 2 Textbook Pdf

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Tamela Vandonsel

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Aug 3, 2024, 10:46:16 AM8/3/24

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Accounting is often referred to as "the language of business." Accordingly, the text does a fine job of relating the terminology to introductory students to topics and concepts they may not have encountered in prior dealings.

As with all other OpenStax offerings, modularity is an area in which this textbook 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.

An issue that may arise when adopting this textbook...there is an appalling lack of publisher-provided ancillaries. Yes, there are PowerPoint slides. No, there are not quizzes, homework assignments, or in-class work available. Supposedly, these materials exist in the user community, yet I was unable to locate or obtain them. This remains a stumbling block (in my mind) to adoption.

I'm pleasantly surprised by the book's comprehensiveness. For instance, my classes use a textbook from a major publisher, and upon comparison, I observe no significant difference in the breadth and depth of the content they coverread more

I incorporated some exercises from this book into my current classes, and they proved to be highly effective. I did an intensive reading of one chapter for class preparation, I did not identify any errors.

I'm currently using the latest edition of a textbook from a major publisher. I think the content of this textbook is up-to-date content because it aligns well with the one I am using. Nonetheless, it would be beneficial if the textbook included relevant case problems.

I feel that the chapters in this textbook are effectively structured with well-defined subsections. Each chapter is thoughtfully organized into digestible segments, allowing readers to navigate through the material with ease. This breakdown into subsections enhances comprehension by presenting information in manageable portions.

I think the organization of this textbook is both logical and systematic. Each chapter unfolds in a coherent manner, with a clear progression of ideas and concepts. The content is well structured, often beginning with an introduction with a case to set the stage, followed by a systematic breakdown into sections or subsections. This organization facilitates a smooth flow of information, helping readers understand the material progressively. Key concepts are appropriately highlighted, and the inclusion of relevant examples and illustrations further enhances clarity.

Upon careful review, I found no apparent or obvious errors were detected in the content. I quite enjoy reading the book and feel the information presented is thoroughly checked and consistently reliable.

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.

Principles of Accounting Volume 1 is comprehensive and covers all elements of a typical introductory accounting course. The text goes deep into certain areas and only touches the surface on others. The text sometimes takes a multi-pass approach to explain a topic. In Chapter 2 - the text provides an introduction to the financial statements and then builds on it in Chapter 3. I have seen this in other textbooks. My desired approach is show an income statement with operating income / other / tax / EPS; show a statement of owners equity with dividends. Chapter 3 is great. I love that expenses are explained using the house of GAAP. Nice touch. I would have introduced a compare and contrast of expenses to assets in Chapter 3. In recording JEs in Chapter 3; I would have preferred less transactions and the T-Account to be illustrated earlier. JE, A=L+E; T-account, then end with TB and F/S.

So as it relates to comprehensiveness - It's there; sometimes over-explained with words (like trying to show both perpetual and periodic inventory methods simultaneously (why??)) / underexplained (like in Chapter 2) / but mostly topics are explained, and are sufficiently covered

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.

Principles of Accounting Volume 1 is highly accurate. I do think there are some issues with immaterial items like re-naming titles of sections (e.g. 1.3 Describes Typical Accounting Activities and the Role Accountants Play in Identifying, Recording, and Reporting Financial Activities to "Types of Organizations: as it appears to me as this section is mis-titled), but more importantly when the text defines elements of revenues and expenses it defines these elements over multiple chapters; and the earlier chapters (Chapter 2) is actually materially incomplete. The text provides an introductory definition and then provides a better definition in later chapters. Just define it correctly, once? When the text simplifies a definition - the text approaches misleading the student into an understanding of an element that is incorrect. Another example of this is the first pass (introduction) of the statement of cash flows. It is not wrong but it does not show a statement of cash flows, it's elements, or its purpose. I would show a more complete statement and let the instructor simplify the illustration.

Principles of Accounting Volume 1 is mostly an outline of accounting rules that have been around for a long time; won't change; and will be relevant for the foreseeable future. There are some changes (e.g. analytics) that changing the way accountants work. The text does have material in Chapter 7 (e.g. 7.1 storing data) that may need to be addressed as technology changes and/or might make it obsolete, but I don't see a way around this. AIS is an important topic and is a basic tool. It needs to be explain now even though the tools are evolving quickly to be cloud based and app based.

Principles of Accounting Volume 1 could be presented much more concisely, more simply; and with better clarity. Certain chapters could be explained with less words, although I love the picture selections (e.g. Capone); certain chapters could be partially eliminated (i.e. Chapter 2 and explanation of periodic and perpetual inventory methods at the same time; certain chapters break continuity (e.g.AIS); and certain chapters could be completely eliminated (e.g. Chapter 14 accounting for corporations, which is outlined in each chapter before). These suggestions would improve clarity from the student learning perspective and process.

I gave the text 3/5 as being both accessible prose and inaccessible (confusing) prose, adequate content and inadequate content. It is a sold text book that would require significant modification and adaptation to work for me.

The text is divisible into smaller reading sections but not easily. Some content as presented is confusion so my approach would be to reframe it and not use it. Some content is too wordy but that is easily remedied by paraphrasing and summarizing (making it fine for modularity)

The chapters could be more progressive building off of each other better. As a storyboard - the profession / the users / the systems (AIS) / The tasks (journal entries from start to finish (adjusting and closing) /Trial Balance / Financial Statements.

The text, however, took a curvy approach to the explanation of the topic, but not unlike other textbooks. Overall it wasn't great but it was typical and above average. I could use this textbook with modifications and content selectiveness (some content needs expounding / some needs modification / some needs elimination) and chapters don't work as presented for me.

The text navigation was straight forward. The chapters might be distracting or require modification but the interface was straight-forward. The pictures (images and graphs) were great! Really brings the student into the objective of the chapter/unit.

Overall the text is usable, informative, and complete. I would rate it a 3.8/5 rounding to a 4 as better than average but the text could use some work for my preferences. Accounting is difficult enough on its own - and no book is a complete instruction manual; so my preference would be to create an environment that outlines in a clear simple approach the profession / tasks (recording and reporting) / and the governance (regulations) of the profession.

The book covers all the basics and starts with the foundations, what is accounting, the steps of accounting and thru the various parts of the balance sheet. Each chapter includes a section with the appropriate ratio, an important part of linking...read more

There seems to be no interface with Moodle or any online homework/testing that competitors (e.g. McGraw Hill) has. Also seems limited in student resources (e.g. videos) and the instructor resources are pathetic compared to other cometitors