The purpose of this course is to convey the appropriate knowledge so that the interpretation, analysis and use of financial accounting information is done in the most adequate way. At the end of this subject, students should be able to prepare and analyze financial statements: Balance Sheet and Statement of Income and Expenses. This subject also explains in detail the complete accounting cycle, how to prepare financial statements and accounting for asset and liability items.

This module aims to equip students not only with essential knowledge from the basics of accounting but creates complete and integrated knowledge for the entire subject that includes financial accounting. To understand and use the accounting system that has as a product the production of financial statements. After completing the course, students are expected: • to acquire the necessary knowledge of classical and modern theories appropriate for the financial reporting of an economic activity. • identify the steps of the accounting cycle • familiarity with contemporary standards for accounting reporting • keeping records and accounting documentation • registration in the accounting books • calculate inventories and cost of goods sold • to account for activities related to financial assets • drawing up basic financial statements, balance sheet, income statement, change in retained earnings, cash flow statement for an economic activity.