The document discusses key concepts in financial accounting and management accounting such as fixed assets, capital and revenue expenditures, financial statements, and accounting as an information system. It addresses topics like fixed asset components, bank reconciliation statements, tangible and intangible assets, cost centers, fixed asset registers, controlling fixed assets, capital versus revenue expenditures, criteria for differentiation, financial versus management accounting, accounting statements, and the role and ethics of accounting.

1. Explain the components of Fixed Assets in detail. Provide examples of each
component.
Define a Bank Reconciliation Statement. Why is it important for a business?
Provide the steps involved in preparing one.
Differentiate between tangible and intangible Fixed Assets. Give examples
of each type and explain their significance in financial accounting.
What is the purpose of a cost centre in cost accounting? Provide an
example of a cost centre and explain how it helps in cost allocation and
control.
Describe the key elements of a Fixed Asset register. Why is it essential for
an organization to maintain an accurate Fixed Asset register?
How can a business maintain control over its Fixed Assets? Discuss the
methods and procedures that can be employed to safeguard and manage
Fixed Assets effectively.
Define Capital Expenditure and Revenue Expenditure. Provide examples of
each.
Explain how Capital Expenditure and Revenue Expenditure are treated in
financial statements. What are the accounting implications of each?
Discuss the long-term and short-term impact of Capital Expenditure and
Revenue Expenditure on a company’s financial position.
Describe the criteria used to differentiate between Capital and Revenue
Expenditures. How do these criteria impact financial decision-making?
Compare and contrast the focus of financial accounting and management
accounting in terms of audience, purpose, and time horizon.
Discuss the key financial statements prepared under financial accounting
and the key reports generated under management accounting.
Discuss the concept of accounting as an information system. How does
accounting collect, process, and communicate information?
Analyze the role of accounting in society and its impact on various
stakeholders such as investors, government, and businesses.
Evaluate the ethical considerations and challenges associated with
accounting as an information system within the context of contemporary
business practices.
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Accounting & Financial Management
Accounting Conventions
Accrual Accounting
Audit and Assurance
Balance Sheet
Capital and Revenue Receipts and Payments
Cash Flow Statement
Cash Management
Cost Accounting
Cost of Debt
Cost of Equity
Depreciation
Dividend Theories
Earnings Per Share (EPS)
Financial Forecasting
Financial Management
Financial Ratios
Fixed vs. Variable Costs
GAAP (Generally Accepted Accounting Principles)
Inventory Valuation
Journalizing
Ledger Posting
Share Capital
Taxation in Accounting
Types of Accounts
Working Capital
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