Introduction to Financial Accounting:
U.S. GAAP Adaptation

An Open Textbook
H. Dauderis and D. Annand
Edited by Athabasca University
Adapted for U.S. GAAP by Donna L. Marchand
Design and layout by Lyryx Learning
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This textbook, originally by D. Annand and H. Dauderis, was intended for a first course in introductory financial accounting. It was extensively edited by Athabasca University to reflect current International Financial Reporting Standards (IFRS). This most recent revision by D. Marchand converted the text from IFRS to reflect the Generally Accepted Accounting Principles of the United States (U.S. GAAP). A corporate approach is utilized versus beginning with a sole proprietorship emphasis and then converting to a corporate approach.

About the Author

Donna L. Marchand, CPA, is an Assistant Professor of Accounting at Emmanuel College in Boston. Prior to taking this position she worked as a full-time instructor at Wheaton College in Norton, MA, and played a key role in transitioning the Business and Management program into a fully open source program for students. Prior to this, she worked as Director of the Academic Achievement Center and full-time instructor at Bridgewater State University in Bridgewater, MA. Before transitioning into higher education she worked in public accounting. However, her career initially began in K-12 education, playing an integral role in launching a fully inclusive education program that became a state-wide model in New York State.