The course provides a comprehensive introduction to the basic concepts, principles, and standards of financial accounting with an emphasis on how financial information is reported to external users and how it is used in resource allocation decisions. The topics covered include the preparation and use of the financial statements, the recording cycle, liquid assets, inventories and cost of the goods sold, plant assets and intangibles, liabilities and owner's equity, and ratio analysis. Also The course focuses on how finance professionals use and interpreting financial tables. Creation and use of financial ratios are discussed. Assessment of the financial strength of companies is examined.