Accounting for Companies (Byte Size)
This course is concerned with company accounts. We shall see how the basic profit and loss account and balance sheet is adapted and extended to deal with this type of business organisation. We shall also consider the framework of regulations, legal and otherwise, that prescribe the way in which the accounts of limited companies are prepared and presented.
By the end of this course, you should be able to:
- explain the accountability requirements imposed on directors
- identify the main differences in accounting for companies as compared with accounting for sole traders
- prepare a set of final accounts including an appropriation account
- discuss the influence of law and the Stock Exchange in determining the the form and content of corporate financial reports
- explain the need for accounting standards in financial reporting