Introduction to Financial Accounting

Description

The questions on the Accounting Framework assesses the understanding and application of the concepts and principles of the Conceptual Framework.  The questions focus on the following:

• the purpose and objectives of financial statements
• the components of financial statements
• how the financial statements are used by different users of financial statements
• the qualitative characteristics of financial statements
• the assumptions applied when preparing financial statements
• the elements of financial statements

the cost-benefit analysis of financial information