Please enable JavaScript.
Coggle requires JavaScript to display documents.
3.4 Final accounts (Stakeholders & Accounting info (Creditors,…
3.4 Final accounts
Stakeholders & Accounting info
Creditors
Customers
Banks
Government
Workforce
Investors
Business manager
Local communtiy
Limitations of accounting info to stakeholders
The acc. of one business do not allow for comparisons
Business accounts will only publish the minimum information required by law.
Acc. do not measure items which cant expressed in monetary terms
Acc. are historic
One set of acc. is limited use
Window dressing
Types of intangible assets
Contract related
Technology related
Artistic related
Goodwill
Customer related
Marketing related
Principles and ethics of acc. practice
Professional competence and due care
Confidentiality
Objectivity
Professional behaviour
Integrity
Main business acc.
The profit and loss account
Profit and loss
Appropriation account
The trading account
The balance sheet
Depreciation of assets
(original asset - expected assets)/ expected useful life assets