Unit 5 Company Financial Reporting

Unit 5 Company Financial Reporting - BFA103 Financial...

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Unformatted text preview: BFA103 Financial Accounting and Decision Making 2 nd Semester 2009 ___________________________________ School of Accounting & Corporate Governance School of Accounting & Corporate Governance BFA103 Financial Accounting & Decision Making Unit 5 Company Financial Reporting ___________________________________ School of Accounting & Corporate Governance BFA103 Financial Accounting & Decision Making Objectives: For students to understand: recording requirements of companies. reporting requirements of a companies. ratios used to analyse company reports. ___________________________________ School of Accounting & Corporate Governance BFA103 Financial Accounting & Decision Making References: Atrill, McLaney, Harvey & Jenner. Chapters 3, 4, 5 and 6. ___________________________________ School of Accounting & Corporate Governance BFA103 Financial Accounting & Decision Making Company Financial Reports Companies The company form of business structure typically has a separation between the owners of the business (shareholders) and the management of the business. ___________________________________ School of Accounting & Corporate Governance BFA103 Financial Accounting & Decision Making Characteristics of a company Separate Legal entity Unlimited Life Limited liability Company ownership of assets Greater access to capital Regulation of reporting ___________________________________ School of Accounting & Corporate Governance BFA103 Financial Accounting & Decision Making Recording and reporting financial information for business all follows the previously discussed accounting principles, GAAP and Accrual Accounting. ___________________________________ School of Accounting & Corporate Governance BFA103 Financial Accounting & Decision Making Companies have additional recording and reporting requirements : The issue of shares the payment of dividends to shareholders the issue of bonus shares to existing shareholders the transfer from retained profits to a reserve the creation of an asset revaluation reserve the payment of income tax by a company ___________________________________ School of Accounting & Corporate Governance BFA103 Financial Accounting & Decision Making Shares The basic form of ownership for a company is shares . ___________________________________ School of Accounting & Corporate Governance BFA103 Financial Accounting & Decision Making Ordinary shares Ordinary shares are the main risk bearing shares of the company ie all other claims on the business are paid before ordinary shareholders. ___________________________________ School of Accounting & Corporate Governance BFA103 Financial Accounting & Decision Making Ordinary Shares Ordinary shareholders can often have a higher share in profits....
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This note was uploaded on 04/30/2011 for the course ECONOMIC 0053665 taught by Professor Allen during the Spring '10 term at American Baptist.

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Unit 5 Company Financial Reporting - BFA103 Financial...

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