Description

Understanding the philosophy and principles underlying financial statements is an excellent way to introduce what financial statements contain, why and how the rules have developed. A little bit of knowledge on this can go a long way to understanding much of the accounting that follows. * The process, purpose and context of accounting * Who/what are the driving forces behind published accounts * Where do the rules come from – US GAAP vs IFRS vs Local GAAP * What has tax got to do with anything? * Background accounting knowledge for analysts to help understand the basis of financial statements