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Fundamental Financial Accounting Concepts with Connect, by Thomas Edmonds
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This text is a user-oriented/conceptual approach to introductory accounting. The goal of the text is to teach accounting by giving both majors and non-majors an understanding of how accounting events affect the financial statements of an organization.
- Sales Rank: #1367089 in Books
- Published on: 2015-02-06
- Original language: English
- Number of items: 1
- Dimensions: 11.10" h x 1.20" w x 8.80" l, .0 pounds
- Binding: Hardcover
About the Author
Thomas P. Edmonds, Ph.D.: Dr. Edmonds is Professor of Accountancy at the University of Alabama at Birmingham, (UAB). He has been actively involved in teaching accounting principles throughout his academic career. He has received several prestigious teaching awards, including the UAB President’s Excellence in Teaching Award and the distinguished Ellen Gregg Ingalls Award for excellence in classroom teaching. His academic experience includes being published in the Journal of Accounting Education, the Accounting Review, and the Journal of Accounting, Auditing and Finance among others. Dr. Edmonds received his Ph.D. in Accounting from Georgia State University.
Most helpful customer reviews
9 of 9 people found the following review helpful.
A good book with the right instructor
By Jasmine T. Baer
I've read the reviews stating that this is a confusing book. I disagree completely. Although the author does not immediately delve into traditional T-accounts, the introduction of the "horizontal model" serves as a good foundation for building the awareness of the accounting equation that should be second nature BEFORE tackling T-accounts. The text's preface states: "A horizontal financial statements model replaces the accounting equation as the predominant teaching platform. The model enables students to VISUALIZE THE SIMULTANEOUS EFFECTS OF A SINGLE BUSINESS EVENT on the income statement, balance sheet, and statement of cash flows." I felt as though this methodology was very effective for my learning style. Recording transactions in T-accounts came almost as second nature after mastering the horizontal model.
The "Working Papers" (a separate workbook) makes doing the assigned problems easy by providing a ready-made template for each problem. If you've had to draw your own T-accounts or your own journal in a notebook before, you will definitely appreciate this.
This text serves as a good introduction to the skills necessary to master financial accounting.
0 of 0 people found the following review helpful.
Best book on the market
By William D. Albrecht
I'm a professor at a large state university. On the rare occasions when I teach this course, I always order the Edmonds book.
I believe the purpose of introductory or fundamental financial accounting is to teach students how to read and use finanacial statements. If used properly by the instructor, this is one of only two books on the market (the other is for MBA students) that can be used for this purpose.
I whole-heartedly endorse the horizontal model used by Edmonds, et. al. Most text book writers use a form of it. I even use it in my writings.
Some students want to learn debits and credits. In my opinion, this is best left to technical courses in accounting for those interested in the nuts and bolts.
However, for anyone who want to get something long-lasting from the course, this text book combined with the right professor, will be about the only option.
If this or any text book is used to teach technical aspects at the fundamental level, you won't have a good experience. Techinical aspects are best covered in Intermediate Accounting.
3 of 5 people found the following review helpful.
Better download the PowerPoint®
By M. Rice
This text is abysmal. It is riddled with errors and omissions, gives incomplete examples, and presents information unsequentially. It relies too much and for too long on the horizontal model without practical applicatoin to journals and statements. If your college uses this text (as Medaille College and Finger Lakes Community College currently do) run away!
Fortunately, many of the gaps are filled in by the PowerPoint® presentations they make available on their support site: [...] Note that these presentations are more extensive than the ones on the Topic Tackler CD that comes with the book. You must download these presentations if you want to have a chance with this book.
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