Basic Accounting Concepts, Principles, and Procedures, Volume 2, 2nd Edition - Softcover

Gregory Mostyn

Softcover

ISBN 10: 0991423119 ISBN 13: 9780991423118

Publisher: Worthy and James Publishing, 2017

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(950 pages, including glossary and index) Volume 2 of Basic Accounting Concepts, Principles, and Procedures 2nd edition is the second book of a user-friendly, academic-quality, comprehensive 2-volume set. Each book, with CD, can be used independently according to each user's needs. The books are built on a research-based instructional design that improves clarity, learning efficiency, and reduction of reader stress. Comprehensive explanations are gradual, combined with illustration, and reinforced with practice and answers. The design bridges the gap between dense academic texts and simplified general trade-level books.

To ensure a full introduction to the context and vocabulary of financial accounting, Volume 2 examples move from a proprietorship (volume 1) to a simple corporate business. (If desired, an in-depth discussion of corporate transactions is available in the last chapters of volume 1 as additional content.)

Volume 2 completes the accounting cycle and discusses how to apply generally accepted accounting principles to key accounts. Major topics include:

Causes of adjustments and procedures to adjust accounts at period-end
How to close the books (corporate, proprietorship, partnership)
Cash basis accounting compared to accrual basis accounting
Worksheets
Merchandising operations and transactions for both major types of inventory systems
Financial statements of merchandising businesses
Accounting systems and special journals
Cash and internal control requirements and methods
Receivables
Inventory costing methods
Long-term assets
The payroll process and payroll procedures
How to prepare and analyze a statement of cash flows
How to prepare and use a cash budget
Long-term liabilities (bonds and notes payable)
Accounting software uses, limitations, and features checklist

There are more than 900 end-of-chapter questions and problems with answers and solutions fully viewable in text, disk, and online with no access codes required. Chapters include vocabulary reviews and cumulative self-tests with solutions and guidance to relevant content. Templates on disk and online provide accounting forms needed for problem solutions and for general use. The book includes ethics guidelines and extensive ethics case studies.

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About the Author

Gregory Mostyn is a member of the American Institute of Certified Public Accountants and the American Accounting Association. He is an instructor at Mission College, Santa Clara, California, and for over 30 years has taught a variety of accounting courses. His research interest is instructional design and learning theory as applied to accounting instruction and textbook design, and he has authored journal articles on the topics. (See: Cognitive Load Theory: What It Is, Why It s Important for Accounting Instruction and Research (2012), Issues in Accounting Education, Journal of the American Accounting Association, V 27, No. 1; An Application of Contemporary Learning Theory to Online Course Textbook Selection (2009), MERLOT, Journal of Online Learning and Teaching, V. 5, No. 4).

Review

Recommended ...clear explanations and comprehensive coverage -- Choice (The academic journal of the American Library Association) --Choice

Basic Accounting is written in a simple clear manner for both slow and fast learners to follow...where one topic fluently builds to the next topic to ensure an incremental learning approach...a very economical and complete first-coverage... -- Issues in Accounting Education, (A Journal of the American Accounting Association) --Issues in Accounting Education

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