This course Financial Accounting for Business is created with the goal of simplifying the concept of financial accounting for those who have never heard of them before. Our innovative, simple, and easy-to-understand instructional strategy helps us achieve this. These topics will provide you with the expertise and tools you'll need to put them into practice in your field and practical areas. We've aimed to simplify a quantitative, and often complicated, subject like Financial Accounting using innovative instructional and presentational methodologies. These topics not only save you a lot of time, but they also give you a productive and efficient learning experience thanks to the use of excellent audio-visual presentation strategies. The goal is to make the concepts simple, accessible, and enjoyable; concepts that you can use as quick reference learning material and that will easily fill in any knowledge gaps you may have on the subject of accounting, allowing you to apply what you learn to your unique needs. The various financial terms required to create a profit and loss statement and a balance sheet are discussed and defined. We go over the definitions of assets, liabilities, and owner's equity, as well as how to balance a balance sheet. In addition, the accounting equation is discussed, explained, and illustrated. A profit and loss statement, as well as a balance sheet, are illustrated and explained in detail.