Here is a book suggestion for students who take Financial Accounting as one of their elective modules: Introduction To Accounting: An Integrated Approach. You would find this book as a good reference that helps you a lot in your study.
The book integrates financial and managerial accounting as opposed to keeping these areas separate, the approach followed by most books and curriculums. By “integration,” the authors focus on the business process and examine the activities from both an external, financial reporting perspective and an internal, management decision-making perspective.
In order to reinforce the relevance of topics to real business situations and promote student interest, the book uses real case studies, which include actual financial statements (e.g: using Apple Computers actual Financial Statements. For 3rd edition, they use Dreyer’s Grand Ice Cream). Challenging material but very thorough and insightful. Both financial and managerial accounting is discussed throughout the textbook. That’s why the book is highly recommended for academic, based on the reviews of both students and professional.
Even more so for us – RP students, because the book promotes active learning through Enhance Your Understanding “probing” questions placed sporadically throughout many chapters, Of Interest boxes that provide additional information relating to the chapter concepts, new Fast Fact boxes that provide additional information related to chapter concepts in a short, trivia-like manner, and end-of-chapter group exercises.
Pause and Reflect section also help a lot since it gets students thinking about the key chapter concepts. Questions are posed and suggested solution are listed below so that students can immediately compare their solutions to the authors’.
There are three key distinctions to the approach:
– Integration–described in preceding paragraph.
– The context of business processes is organized by planning for activities, performing those activities (in other words, capturing them in the financial statements), and finally, evaluating those business activities.
– An organization around the Statement of Cash Flows first focusing on Operating Activities (what is my business, my product, who are my customers?) and then Financing and Investing Activities (how do I fund my business, how do I expand, what are the financial risks, etc?).
Publisher: McGraw-Hill Education
Edition: Third Edition
Call Number: HF 5635 AIN 2004
Written by Le Ha Phuong