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ACCA FBT/BT/FAB/AB/F1 Syllabus Section C Practice Questions and Answers $9.99   Add to cart

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ACCA FBT/BT/FAB/AB/F1 Syllabus Section C Practice Questions and Answers

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ACCA FBT/BT/FAB/AB/F1 Syllabus Section C Practice Questions and Answers Purpose of accounting information - ANSWERAccounting is a way of recording, analysing and summarising transactions of a business. Accounts are produced to aid management in planning, control and decision-making, and to comp...

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  • October 28, 2024
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
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©EMILLECT 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED

FIRST PUBLISH OCTOBER 2024




ACCA FBT/BT/FAB/AB/F1 Syllabus Section

C Practice Questions and Answers


Purpose of accounting information - ANSWER✔✔Accounting is a way of recording, analysing and

summarising transactions of a business.


Accounts are produced to aid management in planning, control and decision-making, and to comply with

statutory regulations.


Factors that influence the accounting system - ANSWER✔✔- Organisation *size*


- *Type* of organisation


- Organisation *structure*


Users of Financial Information - ANSWER✔✔- Managers of the company


- Shareholders of the company


- Trade contacts (Eg. suppliers, customers)


- Providers of finance to the company


- HMRC
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, ©EMILLECT 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED

FIRST PUBLISH OCTOBER 2024




- Employees of the company


- Financial analysts and advisors


- Government and their agencies


- The public


Employee reports - ANSWER✔✔Specially prepared financial information for issue to employees.


Qualities of good information - ANSWER✔✔- Relevant


- Comprehensible


- Reliable


- Complete


- Objectivity


- Timeliness


- Comparable


Financial accounting - ANSWER✔✔A method of reporting the results and financial position of a business.




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