Accounting 10, 20, 30
Course Configurations
Explain the role of accounting standards.
Indicators for this outcome
| (a) | Recognize that accounting handbooks exist to ensure accounting practices reflect current standards. |
| (b) | List examples of accounting principles (e.g., Canadian Generally Accepted Accounting Principles [GAAPs]; business identity, going concern, accounting period cycle, objective evidence, unit of measurement, realization of revenue, matching expenses with revenue, historical cost, adequate disclosure, consistent reporting). |
| (c) | Relate accounting standards to examples found in the community (e.g., local business, First Nations governance authorities, not-for-profit organizations, public sector entities). |
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