Financial accounting for MBA students typically covers fundamental principles and practices essential for understanding and analyzing financial information within organizations. Here's an overview:

1. **Foundations of Accounting**: 

  - **GAAP (Generally Accepted Accounting Principles)**: Students learn the basic principles and guidelines that govern financial accounting, ensuring consistency and comparability across organizations.

  - **Financial Statements**: Understanding the purpose, structure, and components of financial statements (Income Statement, Balance Sheet, Statement of Cash Flows) is crucial. This includes how transactions are recorded and summarized.

2. **Recording Transactions**: 

  - **Double-Entry Accounting**: The backbone of financial accounting, where every transaction affects at least two accounts, ensuring the accounting equation (Assets = Liabilities + Equity) remains balanced.

  - **Journal Entries and T-Accounts**: Techniques for recording transactions initially in journals and then transferring them to ledger accounts.

3. **Financial Statement Analysis**: 

  - **Ratio Analysis**: Using ratios (e.g., profitability, liquidity, solvency) to evaluate a company's financial performance and health.

  - **Vertical and Horizontal Analysis**: Techniques for comparing financial data over time (horizontal) and against industry standards (vertical).

4. **Accounting for Assets, Liabilities, and Equity**: 

  - **Asset Valuation**: Methods for valuing and recording different types of assets (e.g., historical cost, fair value).

  - **Liabilities and Equity**: Understanding the different types of liabilities (current, long-term) and equity components (common stock, retained earnings).

5. **Revenue Recognition and Expense Allocation**: 

  - **Revenue Recognition**: Principles and methods for recognizing revenue when it is earned.

  - **Expense Recognition**: Matching expenses with revenues they generate, following accrual accounting principles.

6. **Auditing and Internal Controls**: 

  - **Internal Controls**: Understanding the importance of internal controls to safeguard assets and ensure accuracy in financial reporting.

  - **Auditing**: Basics of auditing procedures and the role of external auditors in ensuring financial statements are free from material misstatements.

7. **International Financial Reporting Standards (IFRS)** vs. GAAP**: 

  - Comparison of the two major accounting frameworks used globally, understanding their similarities and differences.

8. **Special Topics**: 

  - **Consolidated Financial Statements**: Accounting for subsidiaries and the preparation of consolidated financial statements.

  - **Financial Statement Analysis**: Techniques for analyzing financial statements to evaluate performance, predict future performance, and make investment decisions.

9. **Ethical Issues in Accounting**: 

  - Discussion of ethical dilemmas and responsibilities of accountants regarding financial reporting and decision-making.

10. **Financial Reporting and Decision Making**: 

  - How financial accounting information is used by managers, investors, creditors, and other stakeholders to make informed decisions.

Overall, financial accounting in an MBA program provides a robust foundation in understanding, analyzing, and interpreting financial information critical for managerial decision-making and strategic planning within organizations.