ACBP5111 Study guides, Class notes & Summaries

Learning Unit 1 -3 summary

FRK 111 Financial Accounting Summary and Notes: Chapters 1 - 6 including past paper questions and detailed explanatory solutions. Conceptual Framework; The Accounting Equation with a detailed example and solution showing calculations; Statement of Financial Position; Statement of Profit or Loss and Other Comprehensive Income; Accounting Cycle; VAT detailed explanation and multiple examples and solutions showing calculations from actual past papers; Mark-up on cost and mark-up on sales explan...

This summary includes the history of accounting, users of accounting, uses of accounting, GAAP, qualitative characteristics, financial accounting vs management accounting, different transactions that take place, VAT and the requirements for a valid tax invoice.