Nature and Significance of Book Keeping and Accounting

Contents / notes

• Development of Accounting, including branches of accounting
• Objectives of Book Keeping and Accounting
• Users and characteristics of Accounting information
• Principles, concepts and conventions of Accounting: nature, significance and application
• Role of Accounting records and information
• Career opportunities in Book Keeping and Accounting

Candidate objectives

• Differentiate between Book Keeping and Accounting.
• Understand the historical background of Book Keeping and Accounting.
• Apply the right principles, concepts and conventions to solving Accounting problems.
• Understand the role of Accounting information in decision making.
• Identify the types and branches of Accounting, including Cost Accounting, Management Accounting, Auditing, Financial Accounting, Forensic Accounting, Social and Environmental Accounting, Government Accounting and Taxation.
• Identify the different career opportunities in Book Keeping and Accounting.