A financial accounting course provides a comprehensive understanding of how financial information is recorded, summarized, and reported for decision-making purposes. The course typically covers the fundamental principles and concepts of accounting, including the accounting cycle, double-entry bookkeeping, preparation of financial statements .
A financial accounting course often delves into more specific areas such as the treatment of inventories, depreciation of assets, accounting for receivables and payables, and the management of cash and bank reconciliations. The course may also introduce students to the ethical considerations and regulatory environment that govern financial reporting, including the roles of institutions.