Update Service: Under the "Supplementary Materials" tab, readers can download a service section. It includes an update of the textbook in light of the changes in teaching content brought about by BilMoG and IFRS. Financial accounting, as part of accounting, records all business transactions of a company and posts them on a period basis within a fiscal year. The goal is to present the financial position of a company through a balance sheet and an income statement in the form of realized values. Therefore, it is necessary to first outline the essential accounting principles, make a conceptual distinction, and explain the key instruments of financial accounting. The book contains a detailed case study where the learned concepts can be applied in practice. This textbook is aimed at students of business administration.