Answer to Question #252761 in Other for mek

Question

Write suitable discussion related to (i) the definitions of accounting and the forms of the
accounting as a discipline and (ii) the similarities and differences of Financial Accounting and
Management Accounting.
2. Discuss the current accounting standards or principles applicable in Ethiopia as a base for
financial statement preparation and presentation.
3. Explain the underlying prescriptions of IFRS
4. Describe five types of business transactions with external parties and another five types of
business transactions from internal sources of a selected form of business company at your
nearby (please indicate the form of company you selected on the answer sheet) and explain
how they are journalized and then reported in the financial statements.
5. Discuss the accounting process as a cycle with a given period by explaining each of the
steps and by giving practical examples

Answer 1

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