Accounting Principles and Practices - Accounting Assignment Help

Assignment Task :

Tutorial Questions for Week 1 - Introduction to Financial Accounting

Question 1:  Discuss the nature and importance of accounting.  What is the objective of accounting?  Who are the users of the information? What roles do accountants play in society? 

Question 2: Three main areas of accounting practice in Australia are:

a) Public accounting,

b) Commercial accounting, and

c) Not-for-profit accounting.  Choose one area and elaborate on how accounting in practiced.

Question 3: Compare and contrast between Financial Accounting and Management Accounting. Specify at least 3 areas where Financial Accounting and Management Accounting differ.  Support your answer by providing examples.

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