Users/Accounting standards Flashcards
1
Q
Who uses financial statements?
A
Shareholders
Potential shareholders
Lenders
2
Q
What do accounting standards ensure?
A
Financial statements are accurate and verifiable
3
Q
What financial reporting standards do PLC’s have to meet?
A
International
4
Q
What financial reporting standards do private companies have to meet?
A
International or UK GAP
