摘要:本文主要介绍了公司财务及管理上的几个问题,帮助公司领导者更好地作出决策,管理公司。文章主要分为三个部分:公司财务报告中使用的统一法则,现金流折现法和盈利能力和流动性的重要性。
ity problems in the short run for a company. (Avadhani,V.A. 2010)
会计的专业法律管理框架(任务1)-Professional and Legal Regulatory Framework of Accounting (Task 1)
Financial Reports and Accounting Frameworks: Financial statements are used to make fair decision by various numbers of users. Therefore, the major users of financial reports are classified into: Employees, Present and Potential Investor, Lenders, Customers, Suppliers and other trade payables, Government, and The Public. The objective of financial reports is to provide necessary and objective information about the company performance in order to allow users make sound economic decisions. (Atrill, P and Mclaney, E. 2005)
Financial statements are the overall conclusion of the performance of a company over a specified span of time which as a result, represents a clear position of a company. There are various types of financial reports which are prepared by a company, but the major reports are: The Balance Sheet, Statement of Cash flow, Profit and Loss Statement, and The statement of changes in equity. (Atrill, P and Mclaney, E. 2011)
UK Government Accounting Standards
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Source: Catalogue Pearsoned. 02.09.2013
In order to make different companies financial report comparable there has to be a certain rules which should be followed by all companies. These rules are some forced by government in which all companies are being entitled to obey certain rules while preparing the reports. In UK, all companies must act in accordance with provisions the Companies Act 1985 (CA 1985) which is now changed to Companies Act 2006. Under the mentioned Act, every company is entitled to present their Balance sheet and Income statement at the end of each financial year with true and clear vision. In addition, companies, under Schedule 4 of CA 1985, are further restricted to follow certain format and provide additional information by way of
notes.
Moreover, Companies in UK should also comply with Financial Reporting Standard and other professional guidance. And these are:
Accounting Standards: these are comprised of Financial Reporting Standard (FRS) and Statement of Standard Accounting Practice (SSAPs) which have been issued and adopted by Accounting Standard Boards (ASB). Majority of companies apply these two standards.
Financial Reporting Standard for Smaller Entities (FRSSE): this sum up all accounting format which UK small entities are restricted to follow.
International Financial Reporting Standard (IFRS): these are issued by International Accounting Standard Board (IASB). All UK Stock exchange listed companies are required to follow this standard. However, unincorporated companies are exempt from IFRS accounting regulations.
Limitation of Financial Reports:
Although Legal and professional accounting framework are designed to meet quality factors (Relevance, reliable, objective, and comparable), but still there are some limitations attached to financial reports which cannot be ignored. And these limitations are:
Conventionalized representation: Business are different in their nature and financial reports are prepared in a highly standardized way. This can limit usefulness and comparability of information. In addition, users often find difficult to understand the component of
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