CA > Foundation > Paper 1 – Flashcards
What do profit and loss accounts determine?
Business performance
What does a balance sheet show?
Financial position
What does book-keeping primarily focus on?
Recording data
What is management accounting focused on?
Internal reporting
What does cost accounting ascertain?
Costs and efficiency
What does social responsibility accounting reflect?
Social impacts
What is human resource accounting?
Employee value
What has increased in accounting due to technology?
Complexity and speed
What does financial accounting prepare?
Financial statements
What is the aim of integrated reporting?
Holistic view
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