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Introduction to Financial Accounting - US GAAP Adaptation

The Introduction to Financial Accounting: U.S. GAAP Adaptation open-text resource intended for a first course in introductory financial accounting. The textbook focuses on core introductory financial accounting topics that match pre-requisite requirements for students advancing to Intermediate Financial Accounting. It includes an interactive e-textbook, algorithmic assessments powered by a test bank with over 250 unique questions, solution manuals, presentation slides, and real-time performance dashboards to view individual or class performance.

The Introduction to Financial Accounting: U.S. GAAP Adaptation open-text resource is authored by D. Annand and H. Dauderis, extensively edited by Athabasca University, and adapted for the U.S. GAAP by Donna L. Marchand. To request access to the demo course, click here.

Introduction to Financial Accounting - US GAAP Adaptation
Introduction to Financial Accounting - US GAAP Adaptation

The textbook focuses on core introductory financial accounting topics that match pre-requisite requirements for students advancing to Intermediate Financial Accounting. 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.

A corporate approach is utilized versus beginning with a sole proprietorship emphasis and then converting to a corporate approach. This consistency throughout the book reduces confusion for the introductory student. Excluded are advanced topics that are covered in Intermediate Financial Accounting, such as leases and bond amortization. This most recent revision by D. Marchand converted the the text from IFRS to reflect the Generally Accepted Accounting Principles of the United States (U.S. GAAP). 

Detailed solutions to discussion questions, exercises and problems are provided at the end of the e-textbook for those adopting the Vretta-Lyryx assessment.

ABOUT THE AUTHOR

Donna L. Marchand, CPA, is an Assistant Professor of Accounting at Emmanuel College in Boston. Prior to taking this position she worked as a full-time instructor at Wheaton College in Norton, MA, and played a key role in transitioning the Business and Management program into a fully open source program for students. Prior to this, she worked as Director of the Academic Achievement Center and full-time instructor at Bridgewater State University in Bridgewater, MA. Before transitioning into higher education she worked in public accounting. However, her career initially began in K-12 education, playing an integral role in launching a fully inclusive education program that became a state-wide model in New York State.