CFAS |Certificate in Financial Accounting System|bundle

To generate general purpose financial statementw that provide information, about economic entities, that is to be used as basis for the formulation of economic decisions - correct answer Purpose of accounting in society Historical Cost - correct answer the value of the costs incurred in acquiring...

"I shall be straightforward and honest in all my professional and business relationships."Which ethical principle am I referring to in this statement? a. Integrity b. Objectivity c. Confidentiality d. Professional Behavior e. Professional Competence and Due Care - correct answer a Gener...

What is the general objective of financial statements? a. To provide information about economic resources of an entity, claims against the entity and changes in the economic resources and claims. b. To assess future cash flows to the entity c. To assess management stewardship of economic resour...

PAS 1 Presentation of Financial Statements - correct answer Prescribes the basis for the presentation of general purpose financial statements, the guidelines for their structure, and the minimum requirements for their content to ensure comparability. Financial Statements - correct answer Are the ...

What is the Conceptual Framework for Financial Reporting? - correct answer It is a framework that describes the objective of, and the concepts for, general purpose financial reporting Who revises the Conceptual Framework for Financial Reporting? - correct answer IASB What are the 3 purposes of...