This course will cover the basic concepts of financial accounting, including the construction of financial statements and the various uses that outsiders, such as investors and creditors, make of them. Material will be presented in lecture form supplemented with examples from the popular press. Lectures will typically be followed by class discussions of one or two accounting problems that focus on the “big picture” and illustrate the uses and misuses of financial reports. Students will become familiar with the various components of financial statements and with basic financial statement analysis skills.