chapter  1
22 Pages

– Introduction

After carefully reading the text and completing the tasks and activities provided in this chapter you should have a better knowledge and understanding of: ● how accounting affects and is affected by its organisational environment ● the needs of stakeholders in an accounting context ● different types of entities ● the fi ve underlying accounting concepts ● the six fundamental accounting concepts ● the regulatory framework within which accounting must operate ● how the accounting standard setting process developed Xcontinued . . .