You are required to research two companies that would be the ideal companies you would like to work for. The companies should be non-financial companies, i.e. you should not select banks, building societies, insurance companies or estate agents You should write a report to the newly appointed chairperson of the companies, addressing the following issues:
- Explain the context, purpose and users of financial reporting.
- Describe the qualitative characteristics of financial information.
- Demonstrate an understanding of accounting systems; demonstrate the use of double entry and record transactions and events.