Unit 10: Financial Accounting and Financial Reporting

Topics: Income statement, Balance sheet, Financial statements Pages: 10 (1455 words) Published: July 28, 2015
Assignment front sheet

Qualification
Unit number and title
Pearson BTEC Level 5 HND Diploma Business
Unit 10: Financial Accounting and Financial Reporting
Student name
Assessor name

Date issued
Completion date
Submitted on
28/03/15
09/05/15

Assignment title
Presentation of financial information and Interpretation of Financial Statements (2 of 2)

Learning Outcome

Learning outcome
Assessment Criteria
In this assessment you will have the opportunity to present evidence that shows you are able to: Task no.

Evidence
(Page no)
LO3
Be able to present financial information in accepted formats for publication 3.1
Explain how the information needs of different user groups vary 1

3.2
Prepare financial statements in a form suitable for publication by a sole trader, partnership and limited company 2,3,4

LO4

Be able to interpret financial statements

4.1
Calculate accounting ratios to assess the performance and position of a business 5

4.2
Prepare a report incorporating and interpreting accounting ratios, including suitable comparisons 6

Learner declaration
I certify that the work submitted for this assignment is my own and research sources are fully acknowledged.

Student signature: Date:

In addition to the above PASS criteria, this assignment gives you the opportunity to submit evidence in order to achieve the following MERIT and DISTINCTION grades

Grade Descriptor

Indicative characteristic/s

Contextualisation
M2 Select / design and apply appropriate methods / techniques Appropriate technique have been applied

To achieve M2, you will apply appropriate technique to prepare Financial statement in a form suitable for publication by a sole trader (Task 2) M3 Present and communicate appropriate findings
Appropriate structure and approach has been used
To achieve M2, you will use appropriate structure and approach in the preparation of report incorporating and interpreting accounting ratios including suitable comparisons (Task 6) D2 Take responsibility for managing and organising activities Activities have been managed

To achieve D1 you will have to manage the preparation of Financial statement in a form suitable for publication by a sole trader, partnership and limited company and will have met the deadline to submit the tasks and achieve the unit assessment criteria. (Tasks 2,3,4)

D3 Demonstrate convergent /lateral / creative thinking
Ideas have been generated and decisions taken
To achieve D2 you will generate ideas and take decisions in the preparation of report incorporating and interpreting accounting ratios including suitable comparisons (Tasks 6)

Assignment brief
Unit number and title
Unit 10 – Financial Accounting and Financial Reporting
Qualification
Pearson BTEC Level 5 HND Diploma in Business
Start date
28/03/15
Deadline/hand-in
09/05/15
Assessor
Dani jose

Assignment title
Presentation of financial information and Interpretation of Financial Statements Purpose of this assignment
This Assignment is to help the students understand the Presentation of financial information and Interpretation of Financial Statements Scenario 1:
Following is the trial balance of Sole Trader Steel
DrCr

££
Stock 1 October 20X6
41,600

Carriage outwards
2,100

Carriage inwards
3,700

Returns inwards
1,540

Returns outwards

3,410
Purchases
188,430

Sales

380,400
Salaries and wages
61,400

Warehouse rent
3,700

Insurance
1,356

Motor expenses
1,910

Office expenses
412

Lighting and heating expenses
894

General expenses
245

Premises
92,000

Motor vehicles
13,400

Fixtures and fittings
1,900

Debtors
42,560

Creditors

31,600
Cash at bank
5,106

Drawings
22,000

Capital

68,843

484,253

484,253

Stock at 30 September 20X7 was £44,780.

Task1: Explain how the information needs...
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