Financial Accounting

Topics: Certified Public Accountant, Accountant, Accountancy Pages: 472 (143904 words) Published: September 19, 2012
Accounting Principles: A Business Perspective, Financial Accounting (Chapters 1 – 8) A Textbook Equity Open College Textbook originally by Hermanson, Edwards, and Maher

Fearless copy, print, remix(tm) ISBN-13: 978-1461088189 ISBN-10: 1461088186

License: CC-BY-NC-SA

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About This Publication
Simply put, you may copy, print, redistribute, and re-purpose this textbook or parts of this textbook provided that you give attribution (credit) to Textbook Equity, and provided that any derivative work has the same Creative Commons license (CC-BY-NC-SA). That’s it. Textbook Equity, in turn, provides attribution, with thanks, to the Global Text Project, who provided the source textbook. Consistent with it’s strategic mission to provide free and low-cost textbooks, this is Textbook Equity’s derivative work based on “Accounting Principles: A Business Perspective, First Global Text Edition, Volume 1, Financial Accounting”, utilizing the permissions granted by it’s Creative Commons license. Global Text Project nor the original authors endorse or are responsible in any way for this printing or it’s contents.

Textbook Provenance (1998 - 2011)

1998 Edition Accounting: A Business Perspective (Irwin/Mcgraw-Hill Series in Principles of Accounting) [Hardcover] Roger H. Hermanson (Author), James Don Edwards (Author), Michael W. Maher (Author) Eighth Edition Hardcover: 944 pages Publisher: Richard D Irwin; 7 Sub edition (April 1998) Language: English ISBN-10: 0075615851 ISBN-13: 978-0075615859 Product Dimensions: 11.1 x 8.7 x 1.8 inches Current Hardbound Price $140.00 (

2010 Editions ( Global Text Project Conversion to Creative Commons License CC-BY “Accounting Principles: A Business Perspective First Global Text Edition, Volume 1 Financial Accounting”, Revision Editor: Donald J. McCubbrey, PhD. PDF Version, 817 pages, Free Download

“Accounting Principles: A Business Perspective First Global Text Edition, Volume 2 Managerial Accounting”, Revision Editor: Donald J. McCubbrey, PhD. PDF Version Volume 2, 262 pages, Free Download

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2011 Editions ( Textbook Equity publishes this soft cover version using a the CC-BY-NC-SA license. They divided Volume 1 into two sections to fit paperback publishing requirements and made other formatting changes. No content changes were made to Global Text’s version. Versions available at the Open College Textbook repository: • • • • • • PDF Version, Section 1 of Volume 1 (Chapters 1 – 8), 436 pages, Free Download Textbook Equity Paperback, Volume 1 Financial Accounting (Chapters 1 – 8), 436 pages, List Price $19.95 PDF Version, Volume 1 Financial Accounting (Chapters 9 – 18), Free Download Textbook Equity Paperback, Volume 1 Financial Accounting (Chapters 9 – 18), List Price $19.95 PDF Version Volume 2, (Chapters 19 – 26), Free Download Textbook Equity Paperback, Volume 2 (Chapters 19 – 24), List Price $19.95

For original author information and acknowledgments see

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Preface from the eight edition:
Philosophy and purpose
Imagine that you have graduated from college without taking an accounting course. You are employed by a company as a sales person, and you eventually become the sales manager of a territory. While attending a sales managers' meeting, financial results are reviewed by the Vice President of Sales and terms such as gross margin percentage, cash flows from operating activities, and LIFO inventory methods are being discussed. The Vice President eventually asks you to discuss these topics as they relate to your territory. You try to do so, but it is obvious to everyone in the meeting that you do not know what you are talking about. Accounting principles courses teach you the "language of business" so you understand terms and concepts used in business decisions. If you understand how...
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