This course in Basic Accountancy Principles for Tax Agents covers the
following key areas:
ØSources of regulation of accounting;
ØUnderstanding financial statements for different business structures;
ØTransaction analysis;
ØBasic understanding of double entry bookkeeping;
ØCash and accrual accounting;
ØA conceptual framework: Scope, reporting entity and objective of financial reporting;
ØThe conceptual framework: The fundamentals of general purpose financial reporting;
ØKey concepts and rules integral to understanding financial statements including:
oDefinition and
recognition of revenues and expenses;
oDefinition and
recognition of assets;
oDefinition and
recognition of liabilities;
oMeasurement of
current-assets, including receivables and inventory;
oMeasurement of
non-current assets including depreciation and impairment;
oMeasurement of
liabilities;
ØTaxable income and accounting profit (loss).
Last modified: Wednesday, 15 April 2015, 6:22 PM