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This unit provides students with the skills and knowledge for drafting the financial statements of single limited companies and consolidated financial statements for groups of companies. It ensures that students will have a proficient level of knowledge and understanding of international accounting standards, which will then be applied when drafting the financial statements. Students will also have a sound appreciation of the regulatory and conceptual frameworks that underpin the preparation of limited company financial statements.
On successful completion of this unit, students would be expected to draft the financial statements of single limited companies and groups of companies with little supervision. Students will also acquire the tools and techniques required to analyse and interpret financial statements of limited companies by means of ratio analysis for the purposes of assisting outside user groups in their decision making, thereby fulfilling a useful role within an accounting team.
This unit is mandatory in the Level 4 Diploma in Professional Accounting.
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