Basic Financial Accounting

Basic Financial Accounting is a textbook for students of economy at universities and students at business colleges who are following an introductory class in the external dimension of the company’s economic reporting, including bookkeeping.

The book covers the following subjects:


The fundamentals of business including e.g. business entities and stakeholders
Financial statements consisting of the income statement, balance sheet, statement of cash flows, and notes
The EU and IASB’s concepts
The accounting system
VAT
Income measurement and accrual accounting
Inventory systems
Receivables and bad debts
Completing the accounting cycle
Cash flow statements


The textbook encompasses exercises and assignments for each chapter.