ACCT1511
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Accounting 1B Revision Notes ACCT1511
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Accounting 1B Revision Notes 
Week 1: Financial Reporting Principles & Accounting Standards 
Accounting is the process of i endt i f i y ng, m aesuri g, n recor ding and c omm n ui at c ing financial information to 
relevant users. These include shareholders, creditors, regulators and other stakeholders. 
This is achieved through financial statements, including the Balance Sheet, Income Statement, Cash Flow Statement and 
Statement of Changes in Equity. The objective of these reports is to assis...
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