The aim of this course is to provide a good understanding of accounting principles and practices of financial accounting. Users of financial data should be in position to understand the foundations of the key financial statements and the fundamental limitations of accounting data. Analysis of financial data is an everyday tool to managers, financial analysts and many market participants. The purpose of this course is to give you the foundation for such analysis. Therefore on completion of this course you should be able to understand key financial statements, including cash flow statement. You should be able to evaluate the financial performance, financial position and financial adaptability of a general purpose company. Developing expertise in financial accounting and analysis requires a significant amount of practice. We will look at “textbook” cases as well as at financial statements of real companies. Preparation for lectures may involve reading the assigned materials and working through a case or problem and answering the questions set.