(1) Explain in detail the reasons for having to use different
accounting formats to produce final accounts for the four different
types of organisations;
   
   Sole trader
   Club
   Partnership
   Limited company

(B) Explain the accounting concepts and conventions used when
preparing financial statements,

Also identify and explain the legal and regulatory requirements
imposed on organisations when preparing these statements.

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Request for Question Clarification by omnivorous-ga on 11 Feb 2004 15:28 PST

Stephen --

For differences in these definitions, a researcher needs to know for
which country you're asking?

There can be some differences among state/province laws but that
shouldn't be as relevant.

Best regards,

Omnivorous-GA

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Clarification of Question by stephen82-ga on 12 Feb 2004 03:42 PST

Hi Ive reworded some of the question and added some comments

(1) Explain in detail the reasons for having to use different
accounting formats (differences in layout of the four accounts) to
produce final accounts for the four different
types of organisations;
   
   Sole trader
   Club
   Partnership
   Limited company

(B) Explain the accounting concepts and conventions used when
preparing financial statements. (I think there is about 12 of them,
Its the rules people have to use when preparing financial statements)

Also identify and explain the legal and regulatory requirements
imposed on organisations when preparing these statements (UK accounting standards).

You may want to clarify your question a bit, in order for someone to
respond correctly.  Be as specific as possible.

When you say 'format,' what are you referring to?  I've done
accounting for 20 years and didn't understand the question.

"Explain the accounting concepts and conventions used when preparing
financial statement."  There are hundreds of concepts/conventions used
when preparing financials statements. Again, you'll need to be more
specific as to what you're getting at.

Also, I agree with Omnivorous.  You must state what country you're in
for your question to be properly answered.  US Accounting standards,
for example, are much different than the rest of the world.

The more information you give, the better answer you'll get.

My 2 cents.

Hi Ive reworded some of the question and added some comments

(1) Explain in detail the reasons for having to use different
accounting formats (differences in layout of the four accounts) to
produce final accounts for the four different
types of organisations;
   
   Sole trader
   Club
   Partnership
   Limited company

(B) Explain the accounting concepts and conventions used when
preparing financial statements. (I think there is about 12 of them,
Its the rules people have to use when preparing financial statements)

Also identify and explain the legal and regulatory requirements
imposed on organisations when preparing these statements (UK accounting standards).