prepare basic financial statements for reporting entities;discuss critically and comprehensively the statutory and professional requirements uponwhich published financial statements are based;explain the form and content of financial statements;interpret and apply generally accepted accounting principles and specific financial reportingstandards relating to concepts of recognition, measurement, disclosure, revaluation andimpairment of key financial statement elements.(i) Websites such as those of:Australian Accounting Standards BoardCharles Sturt University Subject OutlineACC514 201630 SM I-9 February 2016-Version 1 Page 10 of 37Financial Reporting CouncilAustralian Securities and Investment CommissionAustralian Securities ExchangeInternational Federation of AccountantsChartered Accountants in Australia and New ZealandCPA AustraliaInternational Accounting Standards BoardFinancial Accounting Standards BoardWebsites of large accounting firms.(ii) Professional publications:In the Black (CPA)Acuity (CAANZ)(iii) Newspapers/journals