Published Accounts & Regulatory Framework (Leaving Cert Accounting): Flashcards

Official financial statements limited companies must prepare yearly

Published P&L, Balance Sheet, Directors' Report, Auditors' Report

Must follow exact order and wording

Total sales revenue (replaces 'sales' in published format)

Intangible, tangible, financial

Assets you cannot physically touch (e.g. goodwill, patents)

Items converted to cash within one year

Significant item shown separately due to unusual nature/size

Liability company could possibly/probably be liable to pay

Long-term loans to the company