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Financial Reporting of Tesco Plc (Doc)

   

Added on  2020-07-23

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Financial Reporting
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Table of ContentsINTRODUCTION...........................................................................................................................1PART 1............................................................................................................................................1A): Statement of cash-flows and its importance to diverse stakeholders....................................1PART 2............................................................................................................................................2b): Critically analyse various accounting standard that affect accountants................................2CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4.........................................................................................................................................................4
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INTRODUCTIONFinancial reporting is the field of accounting related with the statements of company's. Inthe current era, there are various rule and laws that are needed to be complied together to getmore effective results (Barth and Landsman, 2010). This project consists of crucial informationthat are analyse by departments in order to take an effective decision. It covers all reportingrelated aspects in the context to Tesco plc. Advantages that are collected by shareholders throughfinancial data are explain under this project. PART 1A): Statement of cash-flows and its importance to diverse stakeholdersIn accordance with the formulation of financial reports there are various concepts whichis needed to be implements. It has been seen that reporting of statements are one of the primaryaspects of any company. It will be helpful in attaining overall objectives and long term goal ofTesco Plc. In order to analyse financial position of company's they need to go through with cash-flows statements, income statements and balance sheet (Costello, 2011). The practical issues isexamine through applying multiple theories and set of principles so that more effective outcomescan be attain. In the way to manage and control business operations in more efficient mannerorganisation need to use financial reports. It consists of different information about individualsthat are associated with the company are known as part of stakeholders. They are considered as that party which is having interest in company and can have rightto affect their operations directly or indirectly. It involves as employees, customers and investorsetc. The major aspects of stakeholders are that they can be either related with internal or externalpart of an organisation. They look to have complete information about company liquidity andefficiency position. For this purpose they use to analyse various reporting system prepared bymanagers. If company runs out of cash and is not able to gain new finance, they will becomeinsolvent. At that time, management is not having any excuse regarding cash flow crises. For thepurpose of earning maximum profit or return, every department should work in more effectivemanner and necessary information should be delivery to stakeholders. The investors required to make valuable decision on the basis of data provided bymanagers during the year. A company can select direct or indirect techniques of presenting cash-flows. It consists of multiple aspects such as total cash required during setting up of business,1
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