||This course is an introduction to the basic concepts and standards underlying financial accounting systems. Several important concepts will be studied in detail, including: cash, accounts and notes receivable, inventory, marketable securities, equity investments, PPE, intangibles, debt, equity issuance, and dividends. The course emphasizes the construction of the basic financial accounting statements - the income statement, retained earnings statement, statement of financial position, and statement of cash flows - as well as their interpretation. Financial accounting focuses on providing information that is relevant and useful for external users. This course expands your knowledge of understanding of the basic language and conceptions of accounting. The basic accounting concepts that will help you solve problems and exercises designed to transaction recording and financial statement preparation.