Drafting financial statements
Unit summary
Aims
To understand and apply the techniques used to prepare year-end financial statements of partnerships and limited companies which comply with legislation and accounting standards, and to interpret financial statements and the relationships between their elements using ratio analysis.
Objectives
On completion of this paper, candidates should be able to:
draft partnership and limited company financial statements to comply with relevant legislation and accounting standards
correctly identify and implement adjustments, referring any issues and unresolved discrepancies to an appropriate person
understand the importance of an organisation's procedures and policies, including confidentiality procedures
prepare and interpret a limited company cash flow statement
identify the general purpose of limited company financial statements
identify the elements of limited company financial statements and the relationship between them
interpret the relationship between the elements of financial statements using ratio analysis drawing valid conclusions and presenting interpretations and conclusions to the appropriate people.
Unit details
-
15 Business, Administration and Law
-
15.1
Accounting and Finance