Why did I create this accounting textbook?


Textbook prices for introductory accounting courses are typically very high and new editions are frequently introduced, limiting the resale value and use of older editions.  Simply put, a free, open-source textbook increases accessibility by eliminating the cost barrier.  Free is my favorite price!


Accounting textbooks also commonly seen as… BORING!

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Cat sleeping on furniture

Can learning accounting be interesting?

This book is uniquely constructed to integrate reading, video tutorials, links and practice to make learning… dare I write it… FUN!  OK, maybe that’s overstating a bit, but this is not your typical accounting text.

Throughout the chapters, you’ll find links to short videos (screencasts in YouTube).  Each is like a mini-lecture, 4-7 minutes where I’m teaching a nugget of content.  I use humor (check out the James Bond reference in the chapter on long-term debt) and silly examples to highlight important concepts and make them memorable.

In a few cases, you’ll be taken to links for other types of resources- interactive learning opportunities.  Don’t just pass them by!  Engage in these activities to experience “active reading.”

Links to professional organizations and government entities are also provided- to connect what we’re learning to the “real world.”

Also sprinkled throughout are “Your Turn” text blocks.  In each, you’re asked to practice the concept, computation, or accounting entries just presented in the text.  The solution is provided for you to learn- take advantage of these opportunities to test your understanding.

I’m excited to share this resource with you and I look forward to learning accounting together!


Lolita Paff, Ph.D.


I’d like to acknowledge Penn State University’s Affordable Course Transformation grant and wonderful team of instructional design experts leading the program.  Without their skill, planning and support this project would still be on my list of “things to do some day.”  In particular, I’d like to thank Wade Shumaker whose good cheer, encouragement, skill and attention to detail facilitated the transformation of a loose idea into a unique financial and managerial accounting textbook.

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Financial and Managerial Accounting Copyright © 2021 by Lolita Paff is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted.

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