Analysing Financial Information - Essay Example

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Analysing Financial Information

External reporting of accounts through various financial statements is regulated and must comply with various legal requirements as well. Accounts must be regulated in order to provide a true and fair view of the affairs of any business concern. Compliance being the most important issue, every financial accounts prepared by any domestic company in UK must comply with the Company Act. Regulation of accounts and accounting procedures helps the stakeholders of the company like the investors, consumers, etc. to gather information about various financial aspects of the company which can help them in various decision making process. Not only this, regulated accounts can help in detecting various anti-competitive behaviour like unfair cross-subsidisation etc. Moreover it helps in comparative competition. Also the financial health of a company can be monitored using regulated accounts. (Chief executive of Ofgem et. ...
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Summary

ANALYSING FINANCIAL INFORMATION Table of Contents Regulation of Accounts in UK…………………………………………………………….3 Fundamental qualitative characteristics as laid out in the International Conceptual Framework……………………………………………………………………5 References…………………………………………………………………………………7 Bibliography……………………………………………………………………………….9 Regulation of accounts in UK Accountancy can be defined as a process of bookkeeping of financial transaction records in order to help communicating it to the stakeholde…
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