The goals of this course are as follows: 1.To introduce to the students the importance of financial accounting and financial statements. 2.To help students learn how the investing, financing and operating decisions are reflected in the financial statements. 3.To help students understand how to apply these statements to business decisions. The major contents include financial statements and business decisions, investing and financing decisions and the balance sheet, operating decisions and the income statement, the adjustment process, reporting and interpreting assets, liabilities, sales, costs, owners’ equity and financial statements analysis.