The author of this free online accounting textbook has a few lofty goals. He wants to become the “globally dominant source of material for introductory accounting education” and to “make life-changing education accessible to more people through the reduction and elimination of traditional costs.” I am not qualified to judge his first goal but it would seem that all of the authors featured here on The Free Textbook List are changing education forever by making it more accessible and affordable.
The Principles of Accounting textbook is offered on his huge website. Each chapter is presented with exercises, stated goals, a glossary (with links to where the term is introduced within the text), a fill in the blank test and a multiple choice test. Tests do not require site membership and answers are provided. Readings, per page, are fairly short and conclude with a series of questions to help identify what information should have been learned by readers.
Larry Walther, Ph.D., CPA, CMA, is Professor and Head of the School of Accountancy at Utah State University. He has also served as director and/or consultant to both public and private companies and has experience with the auditing firm of Ernst & Young. His Principles of Accounting textbook includes interactive components to aid the learning process. Access is free online or you can purchase a hard copy of the complete text or a downloadable PDF.
Table of Contents from Principles of Accounting
- Accounting Cycle
- Chapter 1: Welcome to the World of Accounting
- Chapter 2: Information Processing
- Chapter 3:Income Measurement
- Chapter 4: The Reporting Cycle
- Current Assets
- Chapter 5: Special Issues for Merchants
- Chapter 6: Cash and Highly-Liquid Investments
- Chapter 7: Accounts Receivable
- Chpater 8: Inventory
- Long-term Assets
- Chapter 9: Long-term Investments
- Chapter 10: Property, Plant, and Equipment
- Chapter 11: Advanced PP&E Issues / Natural Resources / Intangibles
- Liabilities and Equities
- Chapter 12: Current Liabilities and Employer Obligations
- Chapter 13: Long-term Obligations
- Chapter 14:Corporate Equity Accounting
- Using Information
- Chapter 15: Financial Reporting and Concepts
- Chapter 16: Financial Analysis and the Statement of Cash Flows
- Managerial / Cost
- Chapter 17: Introduction to Managerial Accounting
- Chapter 18: Cost – Volume – Profit and Business Scalability
- Chapter 19: Job Costing and Modern Cost Management Systems
- Chapter 20: Process Costing and Activity-Based Costing
- Budgeting / Decisions
- Chapter 21: Budgeting & Planning for Success
- Chapter 22: Tools for Enterprise Performance Evaluation
- Chapter 23: Reporting to Support Managerial Decisions
- Chapter 24: Analytics for Managerial Decision Making
Printed Versions of Larry M. Walther’s Principles of Accounting Textbook
The free online version of Principles of Accounting offers students access to the complete text. Walther releases new editions of the printed materials every year.
His Financial Accounting textbook covers chapter 1-16 and includes a separate workbook and solutions manual. Managerial Accounting covers chapters 17-24 and also has a separate workbook and solutions manual. Walther also offers a series of practice set workbooks, however, students should be aware that the solutions for the practice sets are only available to educators.
View this Free Online Material at the source:
Principles Of Accounting