Syllabus A1
The Scope of Financial Statements 1 / 5
a) Define financial reporting – recording, analysing and summarising financial data.
b) Identify and define types of business entity – sole trader, partnership, limited liability company.
c) Recognise the legal differences between a sole trader, partnership and a limited liability company.
d) Identify the advantages and disadvantages of operating as a limited liability company, sole trader or partnership.
e) Understand the nature, principles and scope of financial reporting.
Introduction to Financial Accounting
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Mock exam 1 Q40
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Mock exam 1 Q41
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Syllabus A1CBE Questions
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A2. Users’ and Stakeholders’ Needs
A. Purpose Of Financial Reporting