Home Solutions LO1 Understand the regulatory framework for financial reporting
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In this assignment you will have the opportunity to
present evidence that shows you are able to:
LO1 Understand the
describe the different users of financial statements and
regulatory framework for
explain the legal and regulatory influences on financial
assess the implications for users
explain how different laws/regulations are dealt with by
accounting and reporting standards
LO2 Be able to prepare
prepare financial statements for a variety of businesses
financial statements from
from a trial balance, making appropriate adjustments
complete or incomplete
prepare financial statements from incomplete records
prepare a consolidated balance sheet and profit and loss
account for a simple group of companies
LO3 Be able to present
explain how the information needs of different user
financial information in
accepted formats for
prepare financial statements in a form suitable for
publication by a sole trader, partnership and limited
LO4 Be able to interpret
calculate accounting ratios to assess the performance
and position of a business
Prepare a report incorporating and interpreting
accounting ratios, including suitable comparisons.
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