"Financial Accounting" (book by Robert Libby)

Financial accounting, as described by Robert Libby, is the discipline of recording, summarizing, and reporting a company's financial transactions. It provides an organized view of a company's financial health through documents like the balance sheet, income statement, and cash flow statement. These reports help external stakeholders such as investors, creditors, and regulators assess the company’s performance and stability. The focus is on delivering accurate, consistent, and standardized information that supports informed decision-making, ensuring transparency and accountability in business operations.