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This work deals with the concepts in the Conceptual Framework for Financial Reporting (Conceptual Framework) as well as key principles from selected IFRSs, to the degree that it is possible in an introductory work on Financial Accounting. The purpose of this work is to fundamentally prepare students for further studies in Financial Accounting. Financial accounting – an introduction Conceptual Framework for financial reporting Financial statements framework for a company Double-entry rules and the application thereof Recognition of transactions and events in the accounting records and the presentation of account balances in the financial statements Review and adjustments The closing off process Value added tax Property, plant and equipment Non-current assets: Intangible assets – trademarks, computer software purchased and cryptocurrencies Trade payables and trade receivables Cash and cash equivalents Revenue from contracts with customers Inventories Share-related transactions and other concepts Loans and leases Non-current assets: Investment property Provisions, contingent liabilities and contingent assets Events after the reporting period Statement of cash flows