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Basic introduction to accounting is about the purpose of accounting is to provide a means of recording, reporting, summarizing, and interpreting economic data. Use features like bookmarks, note taking and highlighting while reading principles of financial accounting. Financial accounting standards board in 1973, an independent fulltime organization called the financial accounting standards. Overview and introduction to financial statements administrative matters, discussion of accounting framework. Internal decision makers managers throughout the organization. Accounting principles 12th edition, which includes chapters 1 18, provides students with a clear introduction to fundamental accounting concepts. Cfis principles of accounting book is free, available for anyone to download as a pdf.
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Chapter 1 accounting principles and the financial statements textbook. Financial accounting is licensed under an attributionnoncommercialsharealike 4. This book covers the fundamentals of financial and managerial accounting. Over 500 practice questions to further help you brush up on algebra i.