Updating the Analysis Sheet and Balance Sheet
What is a business transaction?
What are source documents?
The GAAPs and IFRS
- OBJECTIVITY PRINCIPLE (GAAP)
IFRS – “Reliability – Neutrality”
To be reliable, the information contained with the financial statements must be neutral, that is, free from bias.
Additional Practice and Review
- Read pages 58-59, Questions 1-7
- Read Pages 59-69
- Exercises 1-2-3 Page 70-71
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