"An introduction to the fundamentals of accounting and how it is used that will help students apply accounting as a usable, everyday business tool. It adopts an intuitive, informal approach to describe basic principles - what they are, why they exist and how they are used - to help students see...

This paper addresses an important issue of presentation in the financial statements, namely the distinction between, on the one hand, the obligations and associated flows arising from the provision of finance to an entity (‘financing') and, on the other hand, all other activities of the entity...