Accounting purpose Accounting objectives

Accounting principles –LO1 Guideline

LO1

Achieved the idea

The idea needs to be

paraphrased

Need more explanation

Not Achieved the idea

Task 1 Accounting purpose Accounting objectives

Standards& Regulations

Ethics Definition

Five Ethics fundamental principles

one of Financial scandal cases must be mentioned

Explain what useful information mean by Using the conceptual framework components 1. relevant 2.faithful representation

Task 2 External users definition Internal users definition External users Examples

Internal users Examples

How does financial information serve external users in the decision-making process How does financial information serve internal users in the decision-making process

Task 3

role of accounting in informing decision-making to meet organizational, stakeholder and societal needs within complex operating environments