Accounting principles. - research assisgment

1. Explain the accounting entity assumption and its relationship to the accounting equation .

2. Explain the principles of double entry and the effect of transactions on the accounting equation.

3. Discuss the matching process and the implications of revenue and expense recognition .

4. Explain the major forms of business ownership and their legal entity status (Sole proprietor , partnership , company)

5. Explain the role of accounting standards and their impact on the presentation of financial reports .

6. Explain the following accounting assumptions and their effect on the measurement of assets, revenue and expenses.

· Historical cost

· Monetary assumption

· Going concern/continuity assumption

· Objectivity assumption

· Accounting period assumption

7. Explain the basic differences which may occur between reports prepared for internal use and those prepared for statutory requirements .

8. Reference list

This is a internet research assignment. Question and under , the answers. At the last page reference list according to Harvard style. MAX 1500 words. MIN 1000.