History and development of accounting record


Company regulations and Corporate Governance



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Accounting and finance for managers MBA CH1
Accounting and finance for managers MBA CH1

Company regulations and Corporate Governance

Corporate governance- System by which companies are directed and controlled boards of directors are responsible for it.

Business events; transactions and the accounting system

Business events; transactions and the accounting system

Introduction to Financial Statements

Companies prepare interim financial statements and annual financial statements.


2000

X

FINANCIAL STATEMENTS

Definition: FRS 101

  • Financial statement is a structured financial representation of the financial position of an enterprise and the transaction undertaken by an enterprise

Definition: FRS 101

Objectives and purposes of Financial Statement

  • Provide information about the financial position, performance and cash flow of an enterprise
  • Show the results of management’s stewardship of the resources entrusted to it
  • Assists users in predicting the enterprise’s future cash flow and the timing and certainty of the generation of cash and cash equivalents.

Definition: FRS 101

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