5 marksNature, Scope and Methods of Financial Accounting

CAPE Accounting Unit 1 · 2007 · Paper 2 · Question 1(a)(ii)

Distinguish between the criteria for recognition under cash and accrual accounting.

Distinguish between the criteria for recognizing expenses under the cash basis and under the accrual basis of accounting.

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1(a)(i)Distinguish between the criteria for recognizing revenues under the cash basis and under the accrual basis of accounting.[5 marks]
1(b)Explain EACH of the following qualitative characteristics of accounting information identified in the IASB conceptual framework: relevance, reliability,…[15 marks]
1(c)(i)Briefly contrast the role of internal auditors and external auditors with reference to what or who determines the scope of their work.[2 marks]
1(c)(ii)Briefly contrast the role of internal auditors and external auditors with reference to the period of time for which they are usually appointed.[2 marks]
1(c)(iii)Briefly contrast the role of internal auditors and external auditors with reference to what or whom they are usually required to be independent of.[2 marks]
1(c)(iv)Briefly contrast the role of internal auditors and external auditors with reference to whether they are usually responsible for the prevention and detection of…[2 marks]
1(c)(v)Briefly contrast the role of internal auditors and external auditors with reference to the standards which generally guide their work.[2 marks]

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