04 课程教学大纲 Unit 10 Financial Reporting.pdfVIP

Unit 10: Financial Reporting Learning hours: 60 NQF level 4: BTEC Higher National — H2 Description of unit In this unit learners will discover how to prepare financial statements for different types of business, taking into account the relevant legal and regulatory provisions. Included will be the basic principles of group accounts. Learners will also develop tools for the interpretation of financial statements. Summary of learning outcomes To achieve this unit a learner must: 1 Explain the regulatory framework for financial reporting 2 Prepare financial statements from complete or incomplete records 3 Present financial information in accepted formats for publication 4 Interpret financial statements. B014393 – Guidance and units – Edexcel Level 4 BTEC Higher Nationals in Business 113 – Issue 2 – September 2004 Content 1 Regulatory framework User groups: owners, management, employees, suppliers, customers, lenders, government, potential investors, different needs from financial statements User needs: profitability, liquidity, gearing, cash flow, job security, ASB’s statement of principles, IASB’s framework for the presentation of financial statement Legislation : Companies Acts 1985 and 1989, Partnership Act 1890, European directives Other regulations: Statements of Standard Accounting Practice (SSAPs) and Financial Reporting Standards (FRSs), The Accounting Standards Board (ASB), International Accounting Standards (IASs) 2 Financial statements Statements: trial balance, assets, abilities, income, expenses, capital, profit and loss accounts, balance sheet, cash flow statement, notes to the accounts, statement of recognised gains and losses Types of business: sole trader, partnership, limited company, (public and private) manufacturing/service/retail, group of companies Prep