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DMMR - Basic Issues in Accounting - Updated

The document discusses basic accounting concepts like the definition of accounting, the accounting equation, types of financial statements, their preparation basis, GAAP, IFRS, limitations of the balance sheet, differences between annual reports and financial statements, cash flow statements and their importance, and accounting assumptions and principles.

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Sabbir Zaman
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48 views1 page

DMMR - Basic Issues in Accounting - Updated

The document discusses basic accounting concepts like the definition of accounting, the accounting equation, types of financial statements, their preparation basis, GAAP, IFRS, limitations of the balance sheet, differences between annual reports and financial statements, cash flow statements and their importance, and accounting assumptions and principles.

Uploaded by

Sabbir Zaman
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Basic Issues in Accounting

1. What is accounting?
2. What is the basic accounting equation?
3. What are the different types of financial statements?
4. What is the basis of preparing financial statements?
5. What is GAAP?
6. What is IFRS/ IAS?
7. What are the limitations of balance sheet?
8. Differentiate between annual report and financial statements?
9. What is cash flow statement? Importance of cash flow statement?
10. What are assumptions and principles?

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