Discuss six accounting concepts used in the preparation of financial statements. Use examples to illustrate the application of these accounting concepts.

In the UK, a conceptual and regulatory framework is currently in place for financial reporting as required by the International Accounting Standards Board (IASB).

Please note the following when completing your written assignment:

1. Writing: Written in English in an appropriate business/academic style
2. Focus: Focus only on the tasks set in the assignment.
3. Document format: Essay
4. Ensure a clear title, course, and name or ID number is on a cover sheet and a reference using Harvard referencing throughout is also provided.
5. Research: Research should use reliable and relevant sources of information e.g. academic books and journals that have been peer reviewed. The research should be extensive.

The use of a range of information sources is expected – academic books, peer reviewed journal articles, professional articles, press releases and newspaper articles, reliable statistics, company annual reports and other company information. All referencing should be in Harvard style