Learning Objectives

The paper has two learning objectives:

• to develop knowledge and skills to understand and apply international financial reporting standards and relevant legislation in the drafting of financial statements of limited companies and consolidated financial statements
• to develop knowledge and skills to analyse and interpret financial statements using ratio analysis

Learning Outcomes

• Understand the regulatory framework that underpins financial reporting.
• Understand the key features of a published set of accounts.
• Understand basic principles of consolidation.
• Appreciate the analysis and interpretation of financial statements.
• Draft statutory financial statements for a limited company.
• Draft simple consolidated financial statements.
• Interpret financial statements using ratio analysis.