FAC1502: FINANCIAL ACCOUNTING CONCEPTS; PROCEDURES (FAC1502)
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FAC1502: FINANCIAL ACCOUNTING CONCEPTS; PROCEDURES AND CONCEPTS
- Exam (elaborations) • 14 pages • 2024
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FAC1502: FINANCIAL ACCOUNTING CONCEPTS; PROCEDURES AND CONCEPTS 
ACCOUNTING 
Planning; Recording; ,PLANNING DECISIONS 
Financial information is used to determine future actions. ,CONTROL 
Using financial information to evaluate , THE FUNCTION OF ACCOUNTING 
1. The value added to the networth of a person/entity during a particular period.,PROFIT ENTITIES 
Sole traders;, NON-PROFIT ENTITES 
Clubs; Charitable Organisations; Churches; ......
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