• 3 Marks

FA – Nov 2011 – L1 – SB – Q1a – Scope and Purpose of Accounting

This question asks for the contributions of the African Accounting Council (AAC) to the development of accounting.

Write short notes on the contributions of the African Accounting Council (AAC) to the development of accounting.

The African Accounting Council (AAC) was formed by 27 countries in June 1979. AAC has contributed to the development of Accounting in the following ways:

  1. Assisted in the establishment of bodies responsible for accounting standardization in African countries.
  2. Facilitated studies in the field of Accounting to promote the Accountancy profession across Africa.
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