Financial Reporting

Paper, Order, or Assignment Requirements I will upload additional files later in my account, but I would like to remind you that only part C required 1250 words, which means 1250 words without the trial balance and income statement and the statement of financial position. Financial Reporting Assignment BAC5001 2014/15 A score through Turnitin of plagiarism of more than 25% will be classed as unfair practice and treated as such. Word count: 1250 words (Part C only) Learning outcomes being assessed: The student will be able to: Analyse and demonstrate their knowledge of the social, ethical and legal contexts of accounting, including company law and accounting standards in the context of financial reporting. Calculate and analyse the effect of applying different accounting policies. Brief: PART A (Worth 20%) You are to compile a trial balance for a fictitious UK limited company as at 31st March 2015, along with additional information. This information should include: a closing inventory an application of two depreciation methods an accrual a prepayment a bad debt amount a provision for bad debt Note: Sales within your trial balance should be for more than £500,000. PART B (Worth 20%) You are to produce an Income Statement and Statement of Financial Position for your company as at 31st March 2015. PART C (Worth 60%) You are to summarise the company sector that your fictitious company is from and the current market. Then, where you feel appropriate,discuss figures in the Statement of Financial Position which explain and evaluate the company sector e.g. a steel manufacturing business would have a high value of non-current assets (in comparison to other assets) and the economic life would also be high.Refer to current literature to supplement your answer. Word count: 1250 words