In this first level course, students are exposed to the financial reporting regulatory framework (introduce key players in the financial reporting environment in Malaysia; MASB, MIA, SC, CCM, Bursa Malaysia, etc.) and their role in the capital market, SME sector, public sector and non-profit sector (NGOs, charitable organisations, etc.). In addition, this course introduces the conceptual framework, elements such as assets, liabilities, equity, income and expenses, components of financial statements, statement of financial position, comprehensive income statement, statement of cash flow and changes in equity statement (how they relate to each other). This course also introduces the basic financial statement analysis and the simple items of assets and liabilities such as cash, inventories, receivables, payable, provisions and contingent liabilities.