Accounting and Accountability for Decision Making is an introductory accounting subject concerned with the fundamentals of financial accounting. The subject includes an introduction to the basic principles of accrual accounting and the five elements of financial reports (i.e. assets, liabilities, owners equity, revenue and expenses). The subject focusses on the key financial statements from the preparers perspective – the balance sheet, income statement and statement of cash flows. Topics covered in the subject include measuring and reporting financial position, the accounting cycle, inventory, internal control and cash, non-current assets, cash flow statements and accounting policy choice.