This book contains sample problems and essay-type questions in financial accounting with answers. The book covers the most important areas of financial accounting such as preparing financial statements (a balance sheet, a profit and loss account and a cash flow statement), accounting for fixed and current assets, accounting in joint-stock companies, dividend policy, alternative methods of accounting, analysis of the financial statements and valuation of the company. It may be used as a supplement to a textbook in financial accounting and it will be useful for a revision of the studied material and a preparation for the examinations. This book is for undergraduate and MBA students, practitioners who study accounting to obtain such professional qualifications as ACCA, CIMA, etc., and others interested in accounting and analysis of financial statements.