TAILIEUCHUNG - Lecture Accounting and financial system - Lecture 6 - 7: Preparation and interpretation of financial statements

This chapter includes contents: What is financial statements? The components of the financial statements, who is responsible for the preparation of the financial statements, financial records needed for the preparation of financial statements, critical issues to be considered: shares; debentures; income and government grants, preparation of SOCI and SOFP. | ACCOUNTING & FINANCIAL SYSTEMS MCPC 606 LECTURERS: DR. JOHN MACCARTHY & DR. MALIK ZAKARIA 1 1 Lecture 6-7: Preparation and Interpretation of Financial Statements Overview: What is financial statements? The Components of the Financial Statements Who is Responsible for the Preparation of the Financial Statements Financial Records Needed for the Preparation of Financial Statements Critical Issues to be considered: Shares; Debentures; Income and Government Grants Preparation of SOCI and SOFP 2 This is a quantitative way of showing the performance and status of the company at a particular date. It represents the different 3 main states of a company. 1. Profitability: Is the company making money? (Statement of Comprehensive Income). 2. Assets verse liabilities: What is the value of the company? Who owns what? (Statement of Financial Position). 3. Cash management: Can the company meets its financial obligations? The 3 statements of the financial statements answer the questions above. What is

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• Financial system
• Lecture Accounting and financial system
• Financial statements
• Interpretation of financial statements
• Financial records
• Government grants
• Financial inclusion and growth of Indian banking system
• Financial inclusion of Indian banking system
• Growth of Indian banking system
• Challenges for financial inclusion
• Financial inclusion plays
• The financial system
• The payments system
• Interest rates
• Rates of return
• The stock market
• Financial market efficiency
• Determining interest rates
• Financial markets
• Financial institutions
• Financial Instruments
• Modern financial system
• Flow of funds
• Commercial banking
• Financial claims
• Modern financial system
• Impact of globalisation
• Functions of the financial system