Provides a comprehensive grounding in the principles of financial accounting, including the underlying concepts and process involved in the preparation of
financial statements. Introduces the differences between the accounting principles sanctioned by the International Accounting Standards Committee (IASC) that guide the preparation of financial statements in the EU and the General Accepted Accounting Principles (GAAP) that govern financial statements prepared in the USA. Illustrates how financial statements are used by external decision-makers (creditors, investors) as well as internal decision-makers (managers). Pre-requisite: BUS 101E (Introduction to Business)