Introduction to Accounting and Financial Reporting

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Introduction to Accounting and Financial Reporting serves as an excellent springboard into the world of accounting and provides a firm basis for understanding financial data. A clear, concise structure and illustrative explanations help newcomers without formal training in business transactions quickly to adjust to financial terminology. This book deals with the nuts and bolts of accounting. Using original financial documents in English, it shows how to read, understand, and create basic financial statements (balance sheet, income statement, cash flow). In the age of globalization, business English is becoming ever more important. This brief introduction seeks to acquaint future managers with the special vocabulary of financial accounting, as employed in actual practice, and to give a general overview of both IFRS and U. S. GAAP.