1. Identify and explain three types of financial statements and their purpose.
2. Describe the type of entity that is required to have financial reports audited.
3. Explain three key principles relating to the management of a chart of accounts.
4. Explain the purpose of a profit and loss statement and give two of its key features.
5. Explain the purpose of financial reporting procedures.
6. List the two common reporting cycle periods for financial reporting.