The prime goal of the course is to deliver the promise of Solbridge. Solbridge has the mission of educating the next generation of Asian Thought leaders. The school aims to instill in our graduates a Global Perspective, Asian Expertise, a solid foundation in Management Knowledge, Cross Cultural Competence and a sense of social responsibility. The goal of this course is to introduce students to financial accounting. Important concepts like the accounting equation and the accounting concepts, conventions and assumptions underlying the preparation of accounts will be explained. The preparation of accounting statements using IFRS will be emphasized. At the end of the course the student will be able to:  Explain why the assumptions which are made when recording accounting data.  Draw up an income statement and statement of financial position from records not kept on a double entry system.  Prepare a bank reconciliation statement.  Explain the main difference between the financial statements of non-profit-oriented organisations and those of profit-oriented organisations  Use accounting ratios to calculate missing figures in financial statements.