In any industry, whether manufacturing or service, we have multiple departments, which function day in day out to achieve organizational goals. The functioning of these departments may or may not be interdependent, but at the end of the day they are linked together by one common thread – Accounting & Finance department. The accounting & financial aspects of each and every department are recorded and are reported to various stakeholders. There are two different types of reporting – Financial reporting for various stakeholders & Management Reporting for internal Management of an organization. Both this reporting is important and is an integral part of Accounting & reporting system of an organization. But considering the number of stakeholders involved and statutory & other regulatory requirements, Financial Reporting is a very important and critical task of an organization. It is a vital part of Corporate Governance. It is in this context, a textbook on introduction to the subject of FINANCIAL REPORTING; STATEMENTS AND ANALYSISis presented to the students of Management program. The book contains the syllabus from basics of the subjects going into the intricacies of the subjects. All the concepts have been explained with relevant practical , numerical examples and diagrams to make it interesting for the readers. An attempt is made here by the experts to assist the students by way of providing case based study material as per the curriculum with non-commercial considerations. However, it is implicit that these are exam-oriented Study Material and students are advised to attend regular class room classes in the Institute and utilize reference books available in the library for In-depth knowledge. We owe to many websites and their free contents; we would like to specially acknowledge contents of website www.wikipedia.com and various authors whose writings formed the basis for this book. We acknowledge our thanks to them. At the end we would like to say that there is always a room for improvement in whatever we do. We would appreciate any suggestions regarding this study material from the readers so that the contents can be made more interesting and meaningful. Readers can email their queries and doubts to our authors on [email protected] shall be glad to help you immediately. Author: Dr. Mukul Burghate