Details

Part 1

Write a Report BoD explaining to them the importance of financial accounting and reporting to the company emphasizing the following:

1. First heading, introduction to financial accounting and reporting, and  its importance
2. Historical perspective
3. definition of financial accounting and reporting’
4. why financial accounting and reporting is required
5. procedure involved in financila report
6. what is meant by financial statements

part 2:

LO 1.1 describe different users of financial statements and their needs. (example: owners, lenders, suppliers, government, employees, customers). choose 3-4 users and explain

LO 3.1 explain how information needs of different use groups vary )these users use financial statements for making varied financial and economic decisions: 1 profitability (owners), 2 continuity (employees), 3 cash position, 4 liquidity and so on

LO 1.2 explain the legal and statutory influences on FS (background info) EU directives (2-3 sentences), code of corporate governance (SOX Act 2002), Companies house UK, Companies Act 2006, Accounting Standards.

LO 1.3 Assess the implication (of the legal and statutory of FS) fr the users. (proper accurate)

Pages: 12, double spaced

Sources: 12