ACCT1511

Liberty University

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Accounting 1B Revision Notes ACCT1511
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18

March 2022

2021/2022
Accounting 1B Revision Notes Week 1: Financial Reporting Principles & Accounting Standards Accounting is the process of i endt i f i y ng, m aesuri g, n recor ding and c omm n ui at c ing financial information to relevant users. These include shareholders, creditors, regulators and other stakeholders. This is achieved through financial statements, including the Balance Sheet, Income Statement, Cash Flow Statement and Statement of Changes in Equity. The objective of these reports is to assis...
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