Principles Of Accounting

Written by: Larry Walther (Utah State University)

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.


   

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Principles Of Accounting

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