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Please contact me if you’d like to have a copy COMPREHENSIVE ANNUAL FINANCIAL REPORT (CAFR) •Transmittal Letter •Auditor’s Report on Financial Statements •Management Discussion and Analysis •Basic Financial Statements •Notes to Financial Statements Accounting reports for internal and external use Financial Statements Design of an accounting system Internal controls Flowchart of accounting transactions into accounting records KEY TERMS The key terms introduced in this chapter include the following: Accounting entity —a business having a separate identity from its owner. structures of accounting theory and the conceptual framework for financial accounting and reporting. There is online homework help for students. In this chapter the nature and role of Accounting is considered and the classification of information as management accounting information and financial accounting information is discussed. Conceptual Framework for Financial Reporting. 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