C02 fundamentals of financial accounting

The C02: fundamentals of financial accounting paper takes candidates through conceptual and regulatory frameworks, accounting systems and control, and preparing accounting statements for single entites.

Students will be required to be aware of the format and content of published accounts but are not required to prepare them. No knowledge of any specific accounting treatment contained in the international financial reporting standards (IFRSs), including the international accounting standards (IASs), is necessary, except in terms of how they influence the presentation of financial statements. IAS 1 and IAS 7 formats will form the basis of those statements.

The terminology used for all entities will be that seen in the international financial reporting standards. This will enable students to use a consistent set of accounting terms throughout their studies.

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