This topic discusses the definition of accounting and differences between bookkeeping and accounting.
At the end of the topic, you will be able to:
1.1 explain the definition of accounting
1.2 explain the differences between bookkeeping and accounting

This topic discusses the difference between bookkeeping and accounting. It also includes the elaboration on the four main financial statements that are commonly prepared by publicly-traded companies such as the Statement of Profit or Loss, Statement of Financial Position, Statement of Cash Flows and Statement of Changes in Equity. A discussion on the accounting cycle or process are provided too.

At the end of the topic, you will be able to:
1.1 explain the functions of financial statements.
1.2 explain the accounting cycle

This topic discusses the two different group of users of financial statements, i.e., internal users and external users. To summarise, explanation on the internal users and external users are provided as well as the uses of financial statements to them.

At the end of the topic, you will be able to:
1.1 identify different group of users of financial statements
1.2 explain how they use the financial statements

This topic discusses several forms of business organisations, i.e, sole proprietorship, partnership and company. . It varies depending on the size and rules governing the business.

At the end of the topic, you will be able to:
1.1 describe the different types of businesses.
1.2 explain different characteristics of businesses.