3.16 Accounting for limited companies
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Additional information |
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The use of accounting techniques and principles when drafting financial statements for limited companies (based on IAS1). |
Financial statements include those listed in Limited
company accounts and:
Note: the financial statements of a group of companies will not be examined. Statement of comprehensive income will not be examined. |
Accounting for the revaluation of non-current assets. |
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The difference between the issue of shares, a rights issue and a bonus issue, and recording the effect of such transactions in financial statements. |
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The requirement to publish accounts and how these are used by a variety of stakeholders. |
The requirement to publish accounts could include:
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The purpose and importance of the international accounting standards framework. |
Note: specific standards will not be examined (other than in reference to the IAS1 and IAS7 mentioned above). |