LibGuides: ACC-2001: Week 2 Resources

Week 2 Resources

Principles of Accounting Volume 1 Financial Accounting by OpenStax
ISBN: 9781947172678
Publication Date: 2019
Franklin, M. et al. (2019). Principles of Accounting, Volume 1: Financial Accounting. OpenStax.
Read the second chapter “Introduction to Financial Statements” (pg. 61 to 95). The content includes an introduction to the four basic financial statements: Income Statement, Balance Sheet, Statement of Owners Equity and the Statement of Cash Flows. The content and preparation of each statement is explained. Commentary will indicate the importance of each statement and the information communicated to the reader. Students should focus on understanding the element definitions and the placement of each element on the statement.
How to Read a Financial Report by John A. Tracy; Tage C. Tracy
ISBN: 9781118735923
Publication Date: 2013-12-13
Tracy, J. A., & Tracy, T. C. (2014). How to read a financial report : wringing vital signs out of the numbers (Eighth edition.). Wiley.
Read Part One: Fundamentals from pages 1-39. This reading explains the fundamentals of cash flow, financial statements, and Profit Accounting.

Predicting Bankruptcy of Shipbuilding Companies on the Basic of Financial Statement Data
Cita, M., Stanić, M., & Šuletnić, M. S. (2019). Predicting Bankruptcy of Shipbuilding Companies on the Basic of Financial Statement Data. Journal of Accounting & Management, 9(2), 67–76.
The article illustrates the prediction of bankruptcy using financial statements.
The Balance Sheet
(2016). The balance sheet [Video]. SAGE Video.
This video gives an overview of the balance sheet.
The Income Statement
(2016). The income statement [Video]. SAGE Video.
This video gives an overview of the income sheet.
Financial Accounting Standards Board
This website is the primary website for the Financial Accounting Standards Board. If you do not have the professional subscription, please access the basic view of accounting standards codification by visiting
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