Chapter 1 The Framework of Financial Accounting 1.1 The concept of accounting 1.1.1 Three perspectives of accounting concept 1.1.2 Information users 1.1.3 Internal users and external users 1.1.4 Four steps of accounting 1.2 The qualitative characteristics of accounting information 1.2.1 Fundamental and enhancing qualitative characteristics 1.2.2 Fundamental qualitative characteristics 1.2.3 Enhancing qualitative characteristics 1.3 The rules of accounting 1.3.1 Accounting assumptions 1.3.2 Accounting principles 1.3.3 Accrual basis accounting and cash basis accounting 1.4 The accounting elements 1.4.1 Accounting elements to describe financial position 1.4.2 Accounting elements to describe operating results 1.5 The financial statements 1.5.1 Complete set of financial statements 1.5.2 Statement of financial position 1.5.3 Statement of profit or loss and other comprehensive income 1.5.4 Statement of changes in equity for the reporting period 1.5.5 Statement of cash flows 1.5.6 Notes 1.5.7 Comparative statements Chapter 2 The Forms of Organization 2.1 Proprietorship 2.1.1 Definition 2.1.2 Features of sole proprietorship 2.1.3 Accounting of sole proprietorship 2.1.4 Differences with corporation 2.2 Partnership 2.2.1 Definition 2.2.2 Types of partnership 2.2.3 Types of partners 2.2.4 Personal liability for all owners of GP 2.2.5 Partnership taxes 2.2.6 Creating and ending a partnership 2.3 Company 2.3.1 What is a company 2.3.2 Forms of companies 2.3.3 Types of companies 2.4 Corporation 2.4.1 What is a corporation 2.4.2 Features of a corporation 2.4.3 Types of corporation Chapter 3 The Accounting Cycle����During the Period 3.1 The accounts 3.1.1 Definition of accounts 3.1.2 Debits and credits