REQUIREMENT OF USERS Flashcards
1
Q
SOLVENCY
A
PREPARE FINANCIAL STATEMENT IN ACCORDANCE WITH THE PRINCIPAL OF GOING CONCERN, UNLESS IS NOT APPROPRIATE
2
Q
STATUTORY REQUIREMENT
A
PROVIDE INFORMATION THAT IS REQUIRED IN ORDER TO COMPLY WITHH TAX AND OTHER LEGAL REQUIREMENTS
3
Q
INTERNAL CONTROL
A
ENSURE FINANCIAL STATEMENT ARE COMPLETE AND ACCURATE AND SHOW THE TRUE POSITION OF THE BUSINESS
4
Q
MEASURING BUSINESS PERFORMANCE
A
COMPARE FINANCIAL STATEMENT TO THOSE OF OTHER ENTITIES
5
Q
OBTAINING FINANCE
A
PROVIDING LENDERS WITH THE CURRENT FINANCIAL POSITION OF THE BUSINESS
