This online subject is designed to enable students to be informed users of accounting information of all types. It is divided into three parts. The first part of the subject covers the basic concepts in accounting and the terminology used by accountants. The second part deals with concepts associated with the financial reports prepared primarily for external users such as financial analysts, creditors (such as bankers), and shareholders. In this section reference is made to local and international accounting standards. The third part of the subject covers the basic concepts associated with information for managers within the firm. This includes basic cost concepts, product costing, and the techniques used for decisions such as pricing, product mix, outsourcing and capital investment.