Introduction to Importance of Financial Measures
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This course provides an introduction to the importance of financial measures>
On completion of this course you will:
1. Be able to state the primary purpose of the profit and loss account, the balance sheet and the cash flow statement;
2. Understand why financial statements exist, and be able to identify the different roles played by management accounts and financial accounts;
3. Be able to identify and describe the four main account types in which financial transactions are recorded;
4. Be able to identify and describe the use of the four main accounting conventions of going concern, consistency, accruals (matching) and prudence (conservatism).