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Accounting for Non-Accountants, 9th Edition by David Horner

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14

Published accounts of the limited company

Introduction

When preparing financial statements for internal user groups the important issue is not whether the financial statements follow a prescribed format but whether the statements produced are fit for the purpose of the user. For example, if the user is a manager of the business who is interested in controlling expenditure and increasing profits, an important feature of the financial statements will be whether there is sufficient information about the types of, and levels of, expenditures contained within the statements to enable the manager of the business to achieve the objective of controlling expenditure.

For a company that is publishing its financial statements for external user groups, ...

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