Acca financial Accounting (FA) Study Text ac ca (FA)

Test your understanding 1 

 

Briefly describe the role of corporate governance. 

 

 

 

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Chapter 2 

KAPLAN PUBLISHING

 

35 

Chapter summary 

 

 

 

 

 

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The regulatory framework 

36

 

KAPLAN PUBLISHING

 

Test your understanding answers 

 

Test your understanding 1 

 

The role of corporate governance is to protect shareholder rights, 

enhance disclosure and transparency, facilitate effective functioning of 

the board and provide an efficient legal and regulatory enforcement 

framework. 

 

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KAPLAN PUBLISHING

 

37 

Double entry 

bookkeeping 

Chapter learning objectives 

Upon completion of this chapter you will be able to: 

•

 

explain the main forms of business transaction and 

documentation 

•

 

identify, explain and understand the main forms of 

accounting record, including: 

– day 

books 

– the 

cash 

book 

– the 

journal 

– 

the general ledger 

•

 

understand and apply the concepts of duality, double

­

entry 

and the accounting equation. 

 

 

 

PER

 

One of the PER performance objectives (PO6) is 

to record and process transactions and events. 

Working through this chapter should help you 

understand how to demonstrate that objective. 

 

Chapter 

3 

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