You will learn the functioning and techniques of financial accounting, all the way to the preparation of an annual financial statement, in a clear and precise manner. The content becomes tangible through practical examples with sample solutions. Numerous exercises will help you practice the application of the knowledge acquired, ensuring successful mastery of the upcoming exams. The work is based on the industrial chart of accounts (IKR). The 4th edition has been updated to reflect current legal standards. The content covers the techniques and results of accounting (double-entry bookkeeping, balance sheet, profit and loss statement), the legal background (bookkeeping obligations, principles of proper bookkeeping), ongoing entries in industrial companies (business transactions from A to Z), as well as the annual financial statement (valuation and account closure) and exercises on all topics.