(822 pages, including glossary and index) Volume 1 of Basic Accounting Concepts, Principles, and Procedures 2nd edition is the first book of a user-friendly, academic-quality, comprehensive 2-volume set. Each book, with CD, can be used independently depending on the user's needs, and is 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. This design bridges the gap between dense academic texts and simplified general trade-level books.
Both volumes also integrate discussion and practice with practical issues; for example, later content in volume 1 addresses the quality of accounting information, common manipulation techniques, and financial warning signs.
Volume 1 is an introduction to financial accounting using the simple proprietorship framework. The book contains both a standard introduction and an optional step-by-step enhanced introduction to key business and financial accounting concepts and procedures; this assists the reader in building a reliable foundation for later topics. The enhanced introduction also contains an optional alternative learning style (integrated story feature).
Volume 1 introduces accounting concepts and procedures using the basic service proprietorship (non- corporate) structure, and continues with the following major topics:
- How to visualize and analyze transactions
- What is a basic accounting system
- Accountants and accounting organizations
- Using debits and credits
- Using journals and ledgers
- The four required financial statements
- The relationship between financial statements
- Introduction to GAAP (generally accepted accounting principles)
- The conceptual framework of accounting
If the reader desires more reference or study of business forms and financial reporting, later chapters contain the following topics:
- Corporate transactions and how to record them
- Corporate financial statements
- Partnership transactions and how to record them
- Partnership financial statements
- Financial statement analysis methods and tools
There are more than 800 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. The books includes ethics guidelines and extensive ethics case studies.
