1)Summary of the attached power points to illustrate understanding of topics covered. 2) Find the the latest research on the topic. Resources should include journals, book , video and digital/audio resources etc. 3) Based on the latest references, comment on trends and/or changes. Are there any significant shifts or change on how the topic has been viewed traditionally by academics and/or industry?· What are the three major financial reports?

· Discuss the factors that influence the choice of accounting systems due to the nature of the business and country

· The international conceptual framework for accounting systems

· Identify the cash flows of a typical business.

· Use the principles of cash management and planning.

· Prepare a simple cash budget.

· Examine the difference between cash and credit transactions.

· Explain how accrual accounting works.

· Explain how revenues and expenses are recognised.

· Work confidently with the income statement and know its purpose and content.

· Explain the classification of transactions as revenues, expenses, assets, liabilities and equity.

· Explain the accounting concepts used in preparing financial statements.

· Know how to calculate and use the important operating statistics of an organisation and restaurant.

· Explain the balance sheet, its purpose and contents.

· Work with the accounting equation.
Apply the general principles of internal control in a setting