Week 2, Key Concept Exercise
Required
Interpreting financial statements
You have already identified the importance of accounting information for both internal and external use in an organisation. The purpose of this week is to appreciate the importance of communication of the financial performance and position of an organisation, both from a numerical viewpoint and also from a critical perspective. It is important to have an awareness of the numerical aspects of financial information in order to appreciate the critical perspectives of why certain concepts and principles are followed in the preparation of financial accounting information.
To prepare for this Key Concept Exercise:
• Read the Required Learning Resources for Week 2.
• Consider the purpose of the income statement.
To access full instructions and the submission link, click on Key Concept Exercise in the module navigation menu, and click the “Week 02 Key Concept Exercise” folder.
Mark as complete
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© University of Liverpool Online 2014
Required Learning Resources for week 2
Atrill, P. & McLaney, E. (2013) Accounting and finance for non-specialists. 8th Ed. Harlow, UK: Pearson Publishing.
• Chapter 3, ‘Measuring and Reporting Financial Performance’ (pp.66-105)
• Chapter 5, ‘Measuring and Reporting Cash Flows’ (pp.150-177)
You can get this source from Google scholar. If you cannot find the book of 2013, you may use the book of (Atrill, P. & McLaney,2006)
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