"Financial Statements: Self-Study Guide" offers a comprehensive overview of financial document analysis and easier understanding of accounting rules. Structured as a workbook, this guide primarily focuses on how different transactions get reflected within the books of accounts and, consequently, the financial statements. It assists the user through an entire accounting cycle - starting from the recording of a financial event in the form of an integrated topic of the ledger account and leading to the development of significant financial statements including trial balance, income statement, cash flows, and balances. The guide includes Frequently Asked Questions (FAQs) on double-entry accounting, adjusting entries, ledgers, and trials. As clarity on these concepts is imperative to read any financial statement, these FAQs aim to simplify accounting basics for everyone. Each chapter involves illustratively explained sample transactions and step-by-step ledger entries corresponding to the same. The depiction of various adjustments to these statements with precise trial balances help comprehend refinements better. Readers will foster their applied understanding of financial transactions by exploring its importance and common types in further chapters. The guide dispels the seeming complexity of depreciation by presenting it through accounting entries altogether-observing all financial information chronologically leaves no margin for factual content gaps. Towards the end, users can revise their learnings by referrer to the Analyzing section accompanying separate statement - income, cash flows, equity notes. The structurally detailed "Financial mastery" and "Mastering financial modeling" chapters promote the application aspect with industry examples and appropriate approaches to stimulation interpretation and analytical reading of statements-the book races towards completion with a capstone chapter dedicated to adjustment entries. They get discussed elaborately, leaving no stone unturned in understanding how every fine transaction brings about changes in company books.