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Learning
Outcome
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Assessm
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In
this assignment you will have the opportunity to
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ent
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present
evidence that shows you are able to:
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Criteria
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LO1
Understand the
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1.1
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describe
the different users of financial statements and
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regulatory
framework for
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their
needs
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financial
reporting
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1.2
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explain
the legal and regulatory influences on financial
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statements
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1.3
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assess
the implications for users
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1.4
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explain
how different laws/regulations are dealt with by
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accounting
and reporting standards
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LO2
Be able to prepare
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2.1
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prepare
financial statements for a variety of businesses
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financial
statements from
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from
a trial balance, making appropriate adjustments
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complete
or incomplete
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records
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2.2
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prepare
financial statements from incomplete records
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2.3
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prepare a consolidated balance sheet and profit and loss
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account
for a simple group of companies
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