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Accounting Lecture Notes 08

Accounting Lecture Notes 08 - Lecture 8 Published Reports...

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    Lecture 8: Published Reports and  Accounts  The lecture will help students to: Recognise the contents of annual reports  Understand why annual reports are filed Evaluate the information disclosed within  annual reports Evaluate the quality of corporate social  responsibility reporting in the annual report A company account question from Trial  Balance
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     Learning activities Read Accounting for Management Chapter 4 Moodle  EQL Understand Accounts…Introduction  …again Have a look at a set of real accounts.  There are several on Moodle.
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    Main features of a limited company Limited liability Perpetual life
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    Two main forms of limited company Private limited company (Ltd) Public limited company (plc)
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    The economic importance of public limited companies – an example 11.7% Morrisons/Safeway Other 25.7% 16.4% Asda 15.9% Sainsbury Tesco 30.3% Market share of the four largest grocers: 12 weeks to 19 June 2005
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    Corporate governance Accountability Disclosure Fairness Three guiding principles:
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      The Key Reports and Statements Within  a Company’s Annual Report and  Accounts
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    Accountability Purpose of the annual report is  accountability Report on how resources have been used “stewardship function” Auditors certify “True and fair view”  A set of financial statements which faithfully,  accurately and truly reflect the underlying  economic transactions of an organisation
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limited companies prepare their annual reports and 
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