STUDY UNIT 1
It provides one with the introduction to company annual financial statements which is
very important, seeing that we will focus on the drafting of these statements in later
Discussion of brief history with regards to the
According to the new Companies Act (2008) shares don't have nominal values
anymore and all are issued at no par value. It is important, however, to distinguish
between the two types of shares namely ordinary and preference shares.
Seeing that we once again are dealing with a financial statement, the framework of
the Statement of Financial Position is very important - please study the general
framework presented on page 58 of your study guide.
To improve the understand