ACC102 tut.docx - ACC102 T1 1 A) The GPFR is there for the...

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ACC102T11A)The GPFR is there for the general public to show the shareholders (lenders) what the business is doing / info on the profits /assets ,etc. SPFR is more for the business needing to make crutial decisions in certain areas.B)The differce between financial accounting and management is that management are to find out areas they lack in , in lines of cash flow, accounting sub system in general, financial accounts are to then provide reports and analysis on certain thing in the financial reporting from which management takes the info to improve on.C)GPFR is used the general public sharehlers (lenders), in terms ( external users, financial investors, bank share holdrers 2 A)Sole trader is likely to stay small as it is hard for one person (owner) to mange all duties that come when expanding business with capital being limited and liabilities being unlimited, this can be the same for a parternership to some extend but duties are more likely to be well

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