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Chapter 1

The accounting environment

Outcome

By the end of this session you should be able to:

 explain the principles and concepts of financial accounting

 explain the impact of the regulatory framework on financial accounting

 explain the need for, and information within, an integrated report

and answer questions relating to these areas.

The underpinning detail for this chapter in your Integrated Workbook can
be found in Chapter 1 of your Study Text

1