Financial accounting is a field of accounting that deals with the analysis and reporting of financial transactions related to a business. The preparation of financial statements is a crucial aspect of financial accounting. The primary components of financial statements are statement of cash flows, statement of profit and loss and statement of financial position. It facilitates a systematic record of transactions, understanding of the financial and solvency position of the business, rational decision-making, etc. The aim of this book is to present researches that have transformed the discipline of financial accounting and aided its advancement. From theories to research to practical applications, case studies related to all contemporary topics of relevance to this field have been included herein. Students, researchers, experts and all associated with financial accounting will benefit alike from this book.