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The course forms the second half of a two-semester course in Financial Accounting required for all CAPE Accounting major students. The course exposes students to and focuses on the fundamentals of Financial Accounting. Financial accounting deals with the recording, summarizing and communicating of the economic events of entities, based on established accounting principles, standards and legislation. This course will cover topics such as preparation of financial statements and disclosure requirements, financial reporting and interpretation including ratio analysis and its limitations, and the preparation of cash flows statements, and liquidation and receivership.