Preparation and presentation of published accounts

Reference no: EM13954456

It is a requirement of the Companies Acts that the accounts of limited companies must show a true and fair view of the state of affairs at the end of a period and the profit or loss for the period.

Requirement

(i) Explain the role that the Companies Acts have in the preparation and presentation of published accounts;

(ii) Explain the relationship between accounting standards, the Companies Acts and European Union Directives; and

(iii) Provide two examples of how accounting standards extend the requirements of the Companies Acts and one example of an accounting standard that differs from the Companies Acts.

Reference no: EM13954456

Questions Cloud

Limitations of historic cost accounting : (a) Identify the main limitations of historic cost accounting, explaining the nature of those limitations. (b) Discuss how the use of other capital maintenance concepts to that applied under his- toric cost accounting might provide more useful info..

Determine the empirical probability that she receives a b. : The theoretical probability of undesirable side effects resulting from taking Grebex is 2 in 19. If 380 people take Grebex to lower their blood pressure, how many will encounter undesirable side effects?

Describe in detail how you used decision-making techniques : Compare the possible results of the two techniques/tools of choice. Finally, describe in detail how you used decision-making techniques/tools to solve a problem within your organization, business, or place of employment.

Discussion of twentieth century communication developments : A brief discussion of twentieth century communication developments, milestones, and applications exemplifying changes in media portrayal of sex and violence.

Preparation and presentation of published accounts : It is a requirement of the Companies Acts that the accounts of limited companies must show a true and fair view of the state of affairs at the end of a period and the profit or loss for the period.

Summary of cash receipts and payments : ‘At their simplest, accounts comprise a summary of cash receipts and payments. Concepts such as accruals and substance over form lead to increased complexity and may make it dif- ficult for a user to interpret the results and financial position ..

Is the current american practice justified : The supply of uranium in the United States (and the rest of the world) is large, but not limitless. By failing to reprocess spend nuclear fuel, we are discarding a potential source of energy that some European countries are presently tapping. Is t..

Window-dressing and reserve accounting : Before the introduction of accounting standards, accounting practices varied from enter- prise to enterprise - there was inconsistency and occasionally practices were inappropriate. Intercompany and inter-period comparisons were difficult as ..

Pricing policy is pretty simple : We constantly seem to be pricing ourselves out of some markets and not charging enough in others. Our pricing policy is pretty simple: we mark up our full manufacturing cost by 50%. That means a computer that costs us $2,000 to manufacture will sell ..

User Account

All Pages