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| Section | Weight | Objectives |
|---|---|---|
| Accounting Principles, Concepts and Regulations | 10% | - Principles and concepts of financial accounting - Regulatory and conceptual framework |
| Analysis of Financial Statements | 10% | - Interpret accounting ratios and performance - Calculate basic financial ratios |
| Recording Accounting Transactions | 50% | - Reconciliations and control accounts - Record transactions using double-entry bookkeeping - Prepare accounting records |
| Preparation of Accounts for Single Entities | 30% | - Adjustments and inventory/cost of sales entries - Prepare financial statements from trial balance |
Principles based accounting uses a conceptual basis to provide guidelines for preparing financial statements.
Which ONE of the following is an example of this approach?
Correct Answer: D π³οΈ
Who is responsible for ensuring that internal control systems operate efficiently?
Correct Answer: A π³οΈ
Which of the following would be a role of the financial accountant?
Correct Answer: C π³οΈ
An internal audit is an independent appraisal function established within an organization to examine and evaluate its activities as a service to the organization Which of the following appoints the internal auditor?
Correct Answer: A π³οΈ
Refer to the Exhibit.
An extract of information from K's book of accounts revealed that:
Cash received during the year is
Correct Answer:
$266770
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