Discuss the main financial statements.
Compare appropriate formats of financial statements for different types of businesses.
Interpret financial statements using appropriate ratios and comparisons, both internal and external
Explain the impact of finance on the financial statements
TASK 1: INDIVIDUAL ACTIVITY
Before you go to Scrapit Engineering Ltd, you have to prepare slides with notes and a supplementary handout if necessary, for a presentation on financial statements to finance students at the local college. Your brief is: (This is powerpoint presentation) plus notes and handout.
• Discuss the main financial statements.
• Compare appropriate formats of financial statements for different types of business.
• Explain the impact of finance on the financial statements – how different types of finance and costs appear on the financial statements and the interaction of assets and liabilities
TASK 2: INDIVIDUAL ACTIVITY
On your first morning at Scrapit Engineering Ltd, the Directors present you with a work-in-progress folder that needs dealt with straight away.