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For Week 2 tutorials 1.11 1.12 1.13 1.14 1.15 1.16 1.17 1.18 1.21 1.22 Define accounting and explain why it exists. State what the primary role of accounting is in society. What type of information is communicated in an income statement ? State the purpose pf a balance sheet. Explain the entity concept and state how it affects communicating accounting information. List and describe three main types of accounting entity. Outline the main sources of regulation of financial reporting in Australia. List and describe the three main components of the environment of accounting. What is meant by the international harmonisation of accounting standards? What is the role of the auditor in reporting financial information?
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