2 a) Interpret the following accounting concepts and show an example for each concept of its' application in a business environment. ii) i) Consistency Historical cost b) Assess with explanations, the reasons: (i) the importance of preparing bank reconciliation (ii) the key components of a bank reconciliation (15 marks) b) Assess with explanations, the reasons: (i) the importance of preparing bank reconciliation (ii) the key components of a bank reconciliation (15 marks) Certificate Asia Pacific Institute of Information Technology 202207 AAQS002-3-C-BACC Individual Assignment Page 3 of 3 c) The financial performance of a company are shown via financial statements which are Statement of Financial Position, Statement of Comprehensive Income and Statement of Cash Flow. REQUIRED Assess the contents and differences between both statements in terms of the items disclosed and its' purpose. 30 market