This course is designed to engage students in utilizing financial statements to communicate essential financial information to a variety of potential stakeholders, including, but not limited to, internal management, investors, and financial professionals. It is part of a two-course series that explores the theory and practice of disclosing financial information in conformance with generally accepted accounting principles (GAAP). The course explores appropriate disclosures and analysis of business entity transactions and accounting statements, with specific focus on the liability and stockholders' equity sections of the balance sheet, accounting for income taxes, and accounting changes and error analysis.