1. Explain the role of the International Accounting Standards Board (IASB) in relation to International Financial Reporting Standards (IFRS). 2. What is the accounting equation? Briefly explain each...

1. Explain the role of the International Accounting Standards Board (IASB) in relation to International Financial Reporting Standards (IFRS).

2. What is the accounting equation? Briefly explain each of the three parts.

3. Explain the three sections in the statement of cash flows.