In the UK, a conceptual and regulatory framework is currently in place for corporate financial reporting.
Explain five adjustments which are made to produce company financial statements. In your response explain the following for each adjustment. You must demonstrate an understanding of the underpinning accounting concepts and ideas, using a range of examples.
• Reasons for making the adjustment
• Methods of calculating the adjustment [where relevant]
• The possible effect the adjustment will have on financial statements
1000 words +/- 10%. Any deviation from this will be penalised.
FORMATTING AND LAYOUT
Please note the following when completing your written assignment:
1. Writing: Written in English in an appropriate business/academic style
2. Focus: Focus only on the tasks set in the assignment.
3. Document format: Essay
4. Ensure a clear title, course, and name or ID number is on a cover sheet and a reference using Harvard referencing throughout is also provided.
5. Research: Research should use reliable and relevant sources of information e.g. academic books and journals that have been peer reviewed. The research should be extensive.
The use of a range of information sources is expected – academic books, peer reviewed journal articles, professional articles, press releases and newspaper articles, reliable statistics, company annual reports and other company information. All referencing should be in Harvard style