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age Petal has paid annual dividends of R0,32, R0,48, and R0,60 a share over the past three years, respectively. The company now predicts that it will maintain a constant dividend since its business has levelled off and sales are expected to remain relatively flat. Given the lack of future growth, you will buy this stock only if you can earn at least a 16% rate of return. What is the maximum amount you are willing to pay for one share of this stock today?

Citing practical and quantitative illustrations, Discuss the concept of Security Market Index (10 marks)

Explain the effects of interest rates change and risk structure.

What do you infer from this statement “ The consumer is no longer required to make a choice

between price and quality, and competitiveness in quality is not only central to profitability,

but crucial to business survival”.

A finance company would like to engage in asset management within the firm. The firm measured its coefficient of absolute risk aversion A for all of its clients—the coefficients of absolute risk aversion range from -5 to 10. The client has to choose an investment to invest in, and the investments’ risks and returns are given in the table below.

Investment Expected Return, E( r ) Standard Deviation,

A 0.12 0.30

B 0.15 0.50

C 0.21 0.16

D 0.25 0.21

a). All individuals have the utility function: U = E(r) – 1/2A * (Standard Deviation Squared) . For all values in the absolute risk aversion range, identify which investment best suits an individual. Describe the results as ranges of the risk aversion parameter and present them in graphical form.

b). Based on the results in the analysis in a, what recommendations would you make to the CEO about the make-up of the company’s investments?

Disposable income is the income earned ?

Mavis Taylor Corporation has just issued preferred stock. The stock has a 6% annual dividend and a $100 par

value and was sold at $98.5 per share. Flotation costs were an additional $3 per share.

a. Calculate the cost of the preferred stock.

b. If the firm sells the preferred stock with a 10% annual dividend and net $93.00 after flotation costs, what is its

name the two drivers of the market share of Islamic banking assets and elaborate on their effects and their driving role in the economic growth.

what do you know about global financial crises GFC 2007-2009. explain the reason of this global financial crises

B. The company just paid a $1.48 annual dividend and announced the plans to pay $1.54 next year. The dividend growth rate is expected to remain constant at the current level for the following 4 years and then settle at 3 percent per year. If you are planning to buy this stock in two years’ time, how much would you expect to pay for it if the required rate of return is 7 percent at the time of your purchase? (Use two decimal rounding)

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Finance Homework Help

Your one-stop shop for finance homework help.

As tough as your classes may be, one thing is clear: you need help with finance homework, and we can provide it. The experts at StudyGate have not only studied finance but excelled at it. Some have even turned their learning into careers, providing them with real-world experience so they can quickly and effectively deliver your solution.

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Logical Application of Concepts

Our tutors provide finance homework help that follows a logical flow of ideas. As a student, you need to see the path that connects specific questions and answers so you’re able to grasp the concept. This improves your learning outcomes and builds analytical skills.

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Basic Finance Homework Help Topics Covered

If you’re just dipping your toes into finance coursework, rest assured no question is too “minor.” The need for finance homework help online can arise at any time and with any concept. Take a look at some of the topics we’ve explained in the past.

Amalgamation Whether you’re studying first thing in the morning or last thing before bedtime, it’s easy to confuse amalgamation with the many other terms you must memorize. This word means to combine companies into one entity by also merging their assets and liabilities; StudyGate’s finance assignment help online can explain this in greater detail.

Bond Valuation This technique determines the fair value of a particular bond. While this seems easy on the surface, making that actual determination gets complex. Let one of our finance homework helpers give you a boost.

Capital Asset Pricing Model (CAPM) CAPM refers to the relationship between risk and expected return on assets, especially stocks. Rather than try to understand this alone, ask for a little corporate finance assignment help.

Cash Conversion Cycle The cash conversion cycle is a metric that shows the time needed for a company to convert its inventory into cash flow. This is another area where help with finance homework can turn a confusing idea into one that’s easily understood.

Cash Management This seemingly simple term refers to the broad activities of handling, collecting, and using cash. Again, finance homework help online can quickly sort out the details and provide answers to tricky questions.

Advanced Finance Homework Help Topics

Just as we said no finance homework help requests are too easy, it’s also true that none are too difficult. If you’re in an advanced class and have questions, StudyGate is here for you. We can make sense of the most challenging terms, like those listed below.

Merger Types and Rationale Companies voluntarily fuse into one legal entity during mergers. These exist in different forms and present different reasons for doing so, which our finance homework helpers are happy to explain.

Exchange, Interest, and Inflation Rates These three rates are linked in ways that can be tough to catch. And re-reading the same text over and over doesn’t necessarily shed light on their relationships. The best thing you can do is ask for finance homework help online.

International Money and Capital Markets When you start speaking about global markets, the concepts become increasingly complex. With a StudyGate tutor, you can ask questions and get genuine, compassionate help with finance homework.

Theory of Portfolio Management This considers the potential risk and return of a combination of individual assets. You can gain a deeper understanding by asking for help with finance homework.

Areas We Have Provided Finance Homework Help in the Past

In addition to basic and advanced help with finance homework, we’ve also worked with students writing research papers, completing assignments, and even developing intensive projects. You can see our work in action with the sample finance homework help question and answer provided below.

You have $50,000 in savings for retirement.

FutureValue = PresentValue*(1+r)^n

N = ? quarterly periods FV = 1,000,000 dollars PV = 50,000 dollars R = 0.015 compounded quarterly

1,000,000 = 50,000*(1+0.015)^n Solve for n

20 = (1.015)^n n = log base 1.015(20) n = 201.21 quarterly periods n = 201.21/4 = 50.30 It will take 50.30 years to reach the $1,000,000 goal

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This starts with knowledge. As mentioned earlier, we only work with subject-matter experts who demonstrate their knowledge of a particular field or subject. And all finance homework help is developed on an individual basis. Even if you and your friend both ask for help on the same question, you’ll receive correct answers that are uniquely developed. We demand this diligence to prevent plagiarism on all help with finance homework.

Who can do my finance assignment for me?

At StudyGate, we want to arm you with knowledge so you can complete an assignment yourself. You submit your question, and we’ll provide the answer with step-by-step guidance. This allows you to increase your knowledge of the subject and start to see a simpler side of finance.

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We have a few answers to this question. First, we provide a quick turnaround on finance homework help. Second, our staff genuinely want to see you do well, and this quality is evident in the work we deliver. Finally, our transparent pricing structure keeps things simple – and affordable. And if you’re unhappy with the character of your answer, we’ll refund your money.

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Although rare, finance homework helpers occasionally experience emergency situations. These might arise because of family or work commitments, but the point is your tutor will immediately communicate with you if they experience such a circumstance. They will also propose a new deadline, and if that doesn’t meet your needs, a new tutor can be found.

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Your tutor will upload your completed finance homework help to your portal. You’ll then receive a message through the StudyGate platform and to your email address indicating your assignment is ready for review.

How do you finish your homework at the last minute?

We urge you to ask for finance homework help online. Your dedicated tutor will work swiftly to ensure your deadline is met without sacrificing quality. And if you have additional questions, you can submit them through the StudyGate platform or even schedule a personal online tutoring session.

What is finance and its importance?

This broad field studies credit, capital markets, money, investments, leverage, and banking. These subjects are intensive, we know, which is why many students seek finance assignment help online.

Studying this subject can prepare you for a career in the financial services sector, in which you help people understand their financial health. It can also help you make better financial decisions in your everyday life, such as choosing savings vehicles and even investing in stocks and bonds.

Should you do easy or hard homework first?

This is a question that merits great debate, but generally speaking, most people recommend you complete easy tasks first. This allows you the time and energy necessary to focus on more difficult tasks – and ask for finance homework help if you need it.

At StudyGate, we recommend you find a homework strategy that works for you and stick to it. Whether you prefer to study in the morning, during lunch, or at night, and whether you like completing easy or hard tasks first, get to know your workflow and find ways that promote your best productivity.

Course Resources

Assignments.

The assignments in this course are openly licensed, and are available as-is, or can be modified to suit your students’ needs. Answer keys are available to faculty who adopt Lumen Learning courses with paid support. This approach helps us protect the academic integrity of these materials by ensuring they are shared only with authorized and institution-affiliated faculty and staff.

If you import this course into your learning management system (Blackboard, Canvas, etc.), the assignments will automatically be loaded into the assignment tool.

You can view them below or throughout the course.

• Module 0: Personal Accounting— Assignment: Creating a Budget
• Module 1: The Role of Accounting in Business— Assignment: Lopez Consulting
• Module 2: Accounting Principles— Assignment: Accounting Principles
• Module 3: Recording Business Transactions— Assignment: Recording Business Transactions
• Module 4: Completing the Accounting Cycle— Assignment: Completing the Accounting Cycle
• Module 5: Accounting for Cash— Assignment: Accounting for Cash
• Module 6: Receivables and Revenue— Assignment: Manilow Aging Analysis
• Module 7: Merchandising Operations— Assignment: Merchandising Operations
• Module 8: Inventory Valuation Methods— Assignment: Inventory Valuation Methods
• Module 9: Property, Plant, and Equipment— Assignment: Property, Plant, and Equipment
• Module 10: Other Assets— Assignment: Other Current and Noncurrent Assets
• Module 11: Current Liabilities— Assignment: Calculating Payroll at Kipley Co
• Module 12: Non-Current Liabilities— Assignment: Non-Current Liabilities
• Module 13: Accounting for Corporations— Assignment: Collins Mfg Stockholders’ Equity
• Module 14: Statement of Cash Flows— Assignment: Kachina Sports Company Cash Flows
• Module 15: Financial Statement Analysis— Assignment: Coca Cola FSA

Discussions

The following discussion assignments will also be preloaded (into the discussion-board tool) in your learning management system if you import the course. They can be used as is, modified, or removed. You can view them below or throughout the course.

• Module 0: Personal Accounting— Discussion: Winning the Lottery
• Module 1: The Role of Accounting in Business— Discussion: The Crafty Coffee Crook
• Module 2: Accounting Principles— Discussion: SoftSheets
• Module 3: Recording Business Transactions— Discussion: Baker’s Breakfast Bars
• Module 4: Completing the Accounting Cycle— Discussion: Closing the Books in QuickBooks
• Module 5: Accounting for Cash— Discussion: Counter Culture Cafe
• Module 6: Receivables and Revenue— Discussion: Maximizing Revenue
• Module 7: Merchandising Operations— Discussion: Inventory Controls
• Module 8: Inventory Valuation Methods— Discussion: LIFO, FIFO, Specific Identification, and Weighted Average
• Module 9: Property, Plant, and Equipment— Discussion: Cooking the Books
• Module 10: Other Assets— Discussion: Other Assets
• Module 11: Current Liabilities— Discussion: Current Liabilities
• Module 12: Non-Current Liabilities— Discussion: Off-Balance Sheet Financing
• Module 13: Accounting for Corporations— Discussion: Home Depot
• Module 14: Statement of Cash Flows— Discussion: Facebook, Inc.
• Module 15: Financial Statement Analysis— Discussion: Financial Statement Analysis

Alternative Excel-Based Assignments

For Modules 3–15, additional excel-based assignments are available below.

Module 3: Recording Business Transactions

• Module 3 Excel Assignment A
• Module 3 Excel Assignment B

Module 4: The Accounting Cycle

• Module 4 Excel Assignment A
• Module 4 Excel Assignment B
• Module 4 Excel Assignment C
• Module 4 Excel Assignment D

Module 5: Accounting for Cash

• Module 5 Excel Assignment

Module 6: Receivables and Revenue

• Module 6 Excel Assignment A
• Module 6 Excel Assignment B

Module 7: Merchandising Operations

• Module 7 Excel Assignment

Module 8: Inventory Valuation Methods

• Module 8 Excel Assignment A
• Module 8 Excel Assignment B
• Module 8 Excel Assignment C

Module 9: Property, Plant, and Equipment

• Module 9 Excel Assignment A
• Module 9 Excel Assignment B

Module 10: Other Assets

• Module 10 Excel Assignment

Module 11: Current Liabilities

• Module 11 Excel Assignment

Module 12: Non-Current Liabilities

• Module 12 Excel Assignment A
• Module 12 Excel Assignment B

Module 13: Accounting for Corporations

• Module 13 Excel Assignment A
• Module 13 Excel Assignment B
• Module 13 Excel Assignment C

Module 14: Statement of Cash Flows

• Module 14 Excel Assignment A
• Module 14 Excel Assignment B

Module 15: Financial Statement Analysis

• Module 15 Excel Assignment

Review Problems

There are also three unit review assignments and a final review. These reviews include a document which sets up the problems and an excel worksheet.

Unit 1 Review Problem (After Module 6)

• Review Problem Document

Unit 2 Review Problem (After Module 8)

Unit 3 review problem (after module 9), final review (after module 15).

• Assignments. Authored by : Cindy Moore and Joe Cooke. Provided by : Lumen Learning. License : CC BY: Attribution

Multiple Choice

Answers will vary but should include factors such as starting salaries, value of fringe benefits, cost of living, and other monetary factors.

Answers will vary but should include considerations such as price, convenience, features, ease of purchase, availability, and other decision-making factors.

Responses should comment on the growth Netflix has experienced. Although this may have been due to subscription price increases, the biggest driver of these increases is the number of subscriptions. While this is only a few data points, it does appear likely that Netflix will continue to grow sales in the next year or so. Factors influencing this prediction would be competition, changes in the streaming market, and economic considerations.

Answers will vary, but responses should state, in a sentence or two, the primary purpose of the entity. The goal of this exercise is to have students clearly communicate why the entity exists, the stakeholders served by the entity, and the role accounting plays in the organization.

Answers will vary but should highlight aspects of each model: Brick-and-mortar : higher investment in physical storefront, interior, etc., to attain visual appeal; insurance and regulatory requirements; space/storage considerations; lower delivery costs; no delivery time. Online : less overhead costs, higher delivery costs, higher website and technology costs, competition.

Manufacturer: movies; service: hotels, restaurants, waste removal, entertainment; retail: shopDisney, clothes and apparel.

Answers will vary but should include the key services of the SEC related to regulation and enforcement. You may be particularly interested to explore the SEC’s whistle-blowing initiatives. Responses regarding required filings for publicly traded companies should include a discussion about the relationship between transparency and protecting the public interest. The significant amount of invested capital by the investing public is also relevant to the discussion.

Answers will vary but should include the increase in popularity of energy drinks and Monster’s partnership with the Coca-Cola Company (which now owns close to a 17% stake in Monster). Considerations as to whether or not to purchase Monster shares today would include the estimated future performance of the company, the energy drink market, purchasing at a high point, etc.

Answers will vary but should include a discussion of the importance for accountants to provide information that is unbiased. Accountants have an obligation to protect the public interest by reporting information that is useful for decision-making but does not sway the user in a particular way. Accountants are in a unique position where they serve many stakeholders, including their employer, clients, and the public. The interests of all stakeholders must be considered while maintaining the highest level of integrity.

Answers will vary and may include certifications/licensing in nursing, information technology, engineering, human resources management, counseling, medicine, and many other occupations.

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• Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper
• Publisher/website: OpenStax
• Book title: Principles of Accounting, Volume 1: Financial Accounting
• Publication date: Apr 11, 2019
• Location: Houston, Texas
• Book URL: https://openstax.org/books/principles-financial-accounting/pages/1-why-it-matters
• Section URL: https://openstax.org/books/principles-financial-accounting/pages/chapter-1

© Dec 13, 2023 OpenStax. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike License . The OpenStax name, OpenStax logo, OpenStax book covers, OpenStax CNX name, and OpenStax CNX logo are not subject to the Creative Commons license and may not be reproduced without the prior and express written consent of Rice University.

Finance Test

Assess your knowledge on finance concepts, definitions, and calculations

This Finance Test is designed to help you assess your knowledge of important finance concepts, terminology definitions, and frequently used calculations. We strongly encourage any students who are planning or are beginning their FMVA certification program  to take this test to determine whether you will need to take the prerequisite finance courses including Reading Financial Statements ,  Introduction to Corporate Finance , and Math for Corporate Finance . This is also a useful resource for employers to examine the technical knowledge of the candidates during a finance interview.

If you pass this test with 80% or above (16 questions or more), it is likely that you have a strong background in finance and are good to go ahead with our core courses!

Finance Test Questions

• The discount rate is always higher when you invest now than in the future
• The discount rate is always higher when you invest in the future than now
• The money you have now is worth less today than an identical amount you would receive in the future
• The money you have now is worth more today than an identical amount you would receive in the future
• FV = PV/(1+r)^n
• FV = PV/(1+r)*n
• FV = PV x (1+r)^n
• FV = PV x (1+r)*n

• An investment that has no definite end and a stream of cash payments that continues forever
• A stream of cash flows that start one year from today and continue while growing by a constant growth rate
• A series of equal payments at equal time periods and guaranteed for a fixed number of years
• A series of unequal payments at equal time periods which are guaranteed for a fixed number of years

• The amount borrowed by the issuer of the bond and returned to the investors when the bond matures
• The overall return earned by the bond investor when the bond matures
• The difference between the amount borrowed by the issuer of bond and the amount returned to investors at maturity
• The size of the coupon investors receive on an annual basis
• Trading at par
• Trading at a premium
• Trading at a discount
• Trading below par
• Coupon Rate > Current Yield > Yield to Maturity
• Coupon Rate
• Coupon Rate = Current Yield = Yield to Maturity
• The cash flows that occur earlier are more valuable than cash flows that occur later
• The cash flows that occur earlier are less valuable than cash flows that occur later
• The longer the time cash flows are invested, the more valuable they are in the future
• The future value of cash flows are always higher than the present value of the cash flows
• The market value of equity of the business
• The book value of equity of the business
• The entire value of the business without giving consideration to its capital structure
• The entire value of the business considering its capital structure
• Total assets/Net debt x Cost of debt + Total assets/Equity x Cost of equity
• Net debt/Equity x Cost of debt + Equity/Net debt x Cost of equity
• Net debt x Cost of debt + Equity x Cost of equity
• Net debt/Total assets x Cost of debt + Equity/Total assets x Cost of equity
• Private equity funds are pools of capital invested in companies which represent an opportunity for high rate of return
• Exit strategies for private equity funds include Initial Public Offerings (IPOs) and leveraged buyout (LBO)
• Venture capital is an example of private equity funds
• Private equity funds are usually invested for unlimited time periods
• Best efforts
• Firm commitment
• All-or-none
• Full-purchase
• Equity > Subordinated debt > Senior debt
• Suborindated debt > Senior debt > Equity
• Senior debt > Subordinated debt > Equity
• Senior debt > Equity > Subordinated debt
• Repayment of long-term debt
• Issuance of equity
• Investments in businesses
• Payment of dividends
• Equity Capital + Retained Earnings
• Equity Capital - Total Liabilities
• Total Assets - Total Liabilities
• Current Assets - Current Liabilities
• Goodwill needs to be evaluated for impairment yearly
• Goodwill is treated as a tangible asset in accounting
• Goodwill is a result of purchasing a company for a price higher than the fair market value of the target company's net assets
• Goodwill can be comprised of things such as good reputation, loyal client base, and brand recognition

More about CFI

Thank you for visiting our Test Center and for taking this Finance Test.

CFI is the official global provider of the  Financial Modeling and Valuation Analyst (FMVA)™ certification program , designed to transform anyone into a world-class financial analyst. Enroll now to gain the skills you need to take your career to the next level. Also, see all our valuation resources.

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• Introduction to Financial Accounting

(4 reviews)

David Annand, Athabasca University

Henry Dauderis

Copyright Year: 2017

Last Update: 2021

Publisher: Lyryx

Language: English

Formats Available

Conditions of use.

Learn more about reviews.

Reviewed by Katheryn Zielinski, Assistant Professor, Minnesota State University Mankato on 6/14/23

The text reading follows typical financial accounting flow. Beginning with the foundational introduction to what accounting is through the full accounting cycle, while including financial statement analysis towards the end of the book. Students... read more

Comprehensiveness rating: 5 see less

The text reading follows typical financial accounting flow. Beginning with the foundational introduction to what accounting is through the full accounting cycle, while including financial statement analysis towards the end of the book. Students will find the format helpful; the voice is student-friendly. There is online homework help for students. Instructors will find the text format friendly to semester-long class as concepts broken down into 13 chapters. The chapters explain the learning outcomes, use examples to express concepts, with chapter summary at end. The topics included are consistent with intro accounting courses.

Content Accuracy rating: 5

No issues noticed with accuracy. The text includes accurate financial accounting information.

Relevance/Longevity rating: 5

For an introductory accounting class with focus on US the concepts covered are typical.

Clarity rating: 5

The content is presented in a student friendly manner. Answers are provided. The extra information is helpful for students wanting extra practice.

Consistency rating: 5

The format and layout of the book chapters are consistent. All users will quickly understand the format as it is applied the same to each chapter. This helps provide consistency for students learning introductory accounting.

Modularity rating: 5

The content within the chapters can be broken-down and assigned as instructor plans for the course length. The manner is which the material is presented flows easily as reading.

Organization/Structure/Flow rating: 5

The text organization is consistent and coherent. Each chapter is presented in same manner.

Interface rating: 5

No observed tech issues. PDF downloaded and used with ease.

Grammatical Errors rating: 5

No grammar or language issues.

Cultural Relevance rating: 5

No cultural insensitive or offensive context noted.

This is a student friendly text. However, students might find a glossary helpful, as well as an index.

Reviewed by Lawrence Overlan, Part-time Professor, Bunker Hill Community College on 6/4/20

I appreciate how the Statement of Cash Flows has a separate chapter towards the end of the book. Might be better to wait until that chapter instead of also discussing it in Chapter One.....lots of material for opening week.... read more

Comprehensiveness rating: 4 see less

I appreciate how the Statement of Cash Flows has a separate chapter towards the end of the book. Might be better to wait until that chapter instead of also discussing it in Chapter One.....lots of material for opening week....

I sampled several problems...all correct.

Hard to make accounting obsolete. All the required material is present.

Problems are presented clearly and with good font size. Excellent color schemes and graphics.

Yes....no problems detected in this area. Very straightforward.

Chapters contain the right amount of content. Not too long with out breakup diagrams or examples etc.

Standard flow of chapters with excellent subdivisions.

To the contrary, the graphics and flow charts break up the material very nicely.

No issues noticed in this area.

Nice work! I will definitely consider adopting.

Reviewed by Patty Goedl, Associate Professor, University of Cincinnati Clermont College on 3/27/18

The text covers all of the topics normally found in an introductory financial accounting (principles of accounting I) text. The table of contents essentially mirrors the table of contents found in the leading texts in this field. I like that... read more

The text covers all of the topics normally found in an introductory financial accounting (principles of accounting I) text. The table of contents essentially mirrors the table of contents found in the leading texts in this field. I like that this text also covers the classified balance sheet, financial disclosures and partnerships.

Content is error-free, accurate, and unbiased.

Relevance/Longevity rating: 4

The content is up-to-date. Introductory accounting does not change often so future updates should be minimal. The authors used the year 2015 in most of the problem and examples. This might make the text "seem" out-of-date in a few years.

The book is clear and concise. The topics are clearly explained and the technical terminology is appropriate for an introductory level.

The writing, style, and formatting are consistent throughout this text.

The text is divided into topical chapters, which is appropriate considering that the concepts build on each other. The chapters are further subdivided into sub-topics. This makes it easy for an instructor to pick which sub-topics to cover.

Excellent organization and flow. The concepts logically build upon each other and the material is presented in a clear fashion.

The HTML interface is excellent. The book has good graphics, end of chapter content, and even video examples.

I did not notice grammatical errors.

The text is not culturally insensitive or offensive in any way

Excellent book that is comparable to any of the leading financial accounting titles. The authors even provide end of chapter problems, videos, and interactive Excel problems for students. Overall, a great resource! I commend the authors for making something of this caliber freely available.

Reviewed by Margarita Maria Lenk, Associate Professor, Colorado State University on 1/7/16

The content of this textbook matches the content and organization of most introductory financial accounting textbooks. It is written by Canadian authors, but is relevant to US students. The text begins by explaining the role of financial... read more

The content of this textbook matches the content and organization of most introductory financial accounting textbooks. It is written by Canadian authors, but is relevant to US students. The text begins by explaining the role of financial accounting in society, and then describes the underlying structure of double entry accounting systems and the process of recording economic events that impact the value of the organization through the journals and the ledger. The records of these events are then summarized into the primary financial statements. The numeric subtotals and totals on these statements are used to calculate standard financial measures and ratios used to evaluate the organization's performance. The text's organization then proceeds sequentially through the balance sheet accounts, explaining in more detail how the accounting for each category of economic value is recorded and reported. The author's decision to move the most complex content to the end of the book matches how most faculty choose to organize their coverage of these topics.

My reviewed resulted in highest marks regarding accuracy. The only possible concern I would mention here is that the authors use a commonly used technique in chapter two which sometimes leads to students misunderstanding that revenues and expenses are not part of owners' equity until the revenues and expenses are closed at year end to retained earnings. It is my preference to teach introductory students that revenues and expenses are distinct and separate from equity, and then explain that revenues and expenses ultimately get closed to equity. So, this is not an inaccuracy by the authors, just a point that some instructors may want to know before adopting the textbook.

It is my opinion that the content of this textbook will be relevant and current for at least a decade. Any changes made to accounting principles, Canadian or International, will be very easy and straightforward to update.

It is my opinion that the clarity of this text is very high. The authors are succinct and use visuals often to highlight the theoretical structures.

This test is very consistent with the framework that is set up by the authors in the beginning of the text.

The textbook is very clearly divided into separable modules, making it easy for both students to read and for instructors to choose which modules to include in their course.

The content of this textbook matches the content and organization of most introductory financial accounting textbooks. It begins by explaining the role of financial accounting in society, and then describes the underlying structure of double entry accounting systems and the process of recording economic events that impact the value of the organization through the journals and the ledger. The records of these events are then summarized into the primary financial statements. The numeric subtotals and totals on these statements are used to calculate standard financial measures and ratios used to evaluate the organization's performance. The text's organization then proceeds sequentially through the balance sheet accounts, explaining in more detail how the accounting for each category of economic value is recorded and reported. The author's decision to move the most complex content to the end of the book matches how most faculty choose to organize their coverage of these topics.

The online text worked perfectly in my Chrome browser. The end of chapter exercises and problems are perfectly formatted on the screen. All assessment materials (quizzes, exams, etc.) are located on a different site that requires registration to have access.

I found the grammar to be very clear, concise and very effective. Because the book is written by Canadians, expenses are sometimes referred to as revenue expenditures, which does not match how US textbooks refer to expenses, but is perhaps a better learning tool, as the expenses are always recorded in the period in which they match the revenue generation, so I support the authors' choices regarding how they refer to the difference between assets (capital expenditures) and expenses (revenue expenditures).

The textbook adequately refers to the international accounting standards. That is the only cultural relevance which is relevant to introductory financial accounting.

I found this textbook and its exercises to be a useful teaching and learning tool. Instructors and students have access to pre-made PowerPoint slides, exercises and problems, and there is the option to enrol in an online service for online assessments, which seem to have student feedback capabilities in addition to assessment gathering capabilities.

Table of Contents

• The Accounting Process
• Financial Accounting and Adjusting Entries
• The Classified Balance Sheet and Related Disclosures
• Accounting for the Sale of Goods
• Assigning Costs to Merchandise
• Cash and Receivables
• Long-lived Assets
• Debt Financing: Current and Long-term Liabilities
• Equity Financing
• The Statement of Cash Flows
• Financial Statement Analysis
• Proprietorships and Partnerships

Ancillary Material

About the book.

This textbook is an adaptation by Athabasca University of the original text written by D. Annand and H. Dauderis. It is intended for use in entry-level college and university courses in financial accounting. A corporate approach is utilized consistently throughout the book.

The adapted textbook includes multiple ancillary student and instructor resources. Student aids include solutions to all end-of-chapter questions and problems, and randomly-generated spreadsheet problems that cover key concepts of each chapter. These provide unlimited practice and feedback for students. Instructor aids include an exam bank, lecture slides, and a comprehensive end-of-term case assignment. This requires students to prepare 18 different year-end adjusting entries and all four types of financial statements, and to calculate and analyze 16 different financial statement ratios. Unique versions can be created for any number of individual students or groups. Tailored solutions are provided for instructors.

The original Annand/Dauderis version of the textbook including .docx files and ancillary material remains available upon request to D. Annand ([email protected]).

About the Contributors

David Annand, EdD, MBA, CA, is a Professor of Accounting in the Faculty of Business at Athabasca University. His research interests include the educational applications of computer-based instruction and computer mediated communications to distance learning, the effects of online learning on the organization of distance-based universities, and the experiences of instructors in graduate-level computer conferences.

David completed his Doctorate in Education in 1998. His thesis deals with the experiences of instructors in graduate-level computer conferences.

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