In this course you will learn both how to prepare financial reports and, the impact of these reports on society. In other words you will learn that accounting is both a technical and social practice in all its contexts. This course provides you with a fundamental understanding of accounting requirements, concepts & principles underlying financial accounting, which are necessary for you to, evaluate and assess the impact of financial accounting information in organisations and society. While the explicit objective of financial reporting is to provide information for resource providers you will appreciate its pervasive influence in the larger context of a changing and interconnected world.