Stakeholder and regulatory environment © 2013 Andrew Ross and Peter Williams. Published 2013 by John Wiley & Sons, Ltd. 1.

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Presentation transcript:

Stakeholder and regulatory environment © 2013 Andrew Ross and Peter Williams. Published 2013 by John Wiley & Sons, Ltd. 1

Accounting Why Fundamental – Prudence – True and fair view Terms – Reference period – Statutory compliance © 2013 Andrew Ross and Peter Williams. Published 2013 by John Wiley & Sons, Ltd. 2

Annual accounts Companies act requirement Auditors – Internal – External Accounting standards © 2013 Andrew Ross and Peter Williams. Published 2013 by John Wiley & Sons, Ltd. 3

UK accounting standards SSAP9 – Time scales – Work in progress Assessment – Turnover – Attributable profit – Asset Value © 2013 Andrew Ross and Peter Williams. Published 2013 by John Wiley & Sons, Ltd. 4

Problems of time © 2013 Andrew Ross and Peter Williams. Published 2013 by John Wiley & Sons, Ltd. 5

Management reports Purpose – Planned – Actual – Variance Inform – Balance sheet – Profit and loss statement – Cash flow statement © 2013 Andrew Ross and Peter Williams. Published 2013 by John Wiley & Sons, Ltd. 6

Other stakeholders HM Revenue and Customs – Tax return – Employer Annual return – VAT return Lenders – Covenants Affirmative Negative © 2013 Andrew Ross and Peter Williams. Published 2013 by John Wiley & Sons, Ltd. 7

Annual accounts Operating Statement Director's report Profit and loss account Balance sheet Movement of funds statement Auditor's report Notes © 2013 Andrew Ross and Peter Williams. Published 2013 by John Wiley & Sons, Ltd. 8