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What type of report and accounts should a company prepare?
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Answer / guest
For a charitable company, there are three influences on
report and accounts: 1. The trustees must prepare a
Trustees' Annual Report which must be attached to the
accounts required by the Companies Act when submitted to
the Charity Commission. The Trustee's Annual Report can be
an expansion of the Directors' Report or in addition to it.
2. The accounting requirements are prescribed by the
Companies Act. 3. In addition, company charities must
follow the provisions of the Charities SORP (as this
represents what is a true and fair view in charity
accounting). This means in particular they should prepare a
Statement of Financial Activities (SOFA) as a primary
statement additional to the I & E account, where
applicable.
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Answer / gohar ali pugc
the reports which companies to be needed are:
Annual Report includ:
profit and loss Account/
Income statement
owner equity statement
balance sheet
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Answer / sudhansu dash
Hi, I think this question is some thing related to annual
report submittion, so we have to prepare four statement,
1. Balance Sheet
2. Profit and Loss Statement
3. Cash Flow statement
4. Retain Earning Statement
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Answer / barodianbuddy(acca)
The following statements are prepared by the company:-
1. Statement of Financial Position
2. Statement of Profit or loss & other comprehensive income
3. Statement of changes in Equity
4. Other reports as prescribed by local laws.
| Is This Answer Correct ? | 0 Yes | 0 No |
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