Can you explain the double entry system?, How has the emphasis of accounting changed over the centuries?, What are some of the ways businesses differ in their types of activities?, How can accounting assist in decision making processes for businesses?, What are some of the conventions assumed by accountants practicing in Australia?, What are the limitations of monetary measurement?, Why is there a clear boundary between the finances of a business and its owner?, What does the continuity or going concern convention refer to?, What does the historical cost convention refer to?, What does the accounting period convention refer to?, What does the dual aspect or double entry convention refer to?, What is the basic accounting equation and how can it be used?.

Unit 2: Accounting Conventions

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