1 What is IAS 1?

1 What is the purpose of the standard PRESENTATION OF FINANCIAL STATEMENTS?

1 What is the purpose of financial staements?

1 What is the Financial Position reported through?

1 What is the Financial Performance reported through?

1 What is the Cash Flows reported through?

1 Define Entity?

1 How do you use to make a Economic Decision?

1 What is included in Financial statements:

1 What MAIN accounting concepts comply with IAS 1?

1 What accounting concepts are the bedrock of IAS 1?

1 Other Considerations to take into accounts when preparing company financial accounts?

1 What is Offsetting?

1 What is Comparative infomation?

2 What is IAS 2?

2 What does types of inventories does it apply to?

2 What is is IAS 2 used for?

2 What are the different forms of inventories?

2 Define Raw Material inventories?

2 Define work-in-progress inventories?

2 Define Resale inventories?

2 Define service items inventories?

2 What is the overriding principle of inventory valuation, as set out in IAS 2?

2 how many different values are compared when calculating the lowest value of the inventories?

2 Define Cost in relation to valuing the inventories?

2 Define Net realisable value in relation to valuing the inventories?

2 Which one of Cost & Net realisable value is recorded?

7 What is IAS 7?

7 What is the perpose of IAS 7?

7 What is the cash flow statement used for?

7 Where does the cash flow statement get its information from?

7 IAS 7 provides the format for cash flow statements, divided into how many sections?