This report, prepared as part of an ATHE Level 5 Extended Diploma in Accounting assignment, delves into various aspects of financial reporting. Task 1 focuses on preparing financial statements, including adjustments, for a sole proprietorship, a partnership, and a limited company (PLC), along with a cash flow statement. Task 2 examines accounting records and provides justified recommendations for process improvements within an organization. Task 3 explores the purpose of preparing financial statements, analyzes the use of accounting ratios, and evaluates the need to identify and correct errors in financial statements. The report covers a wide range of financial reporting concepts, including the preparation of financial statements, analysis of accounting records, and the importance of accurate financial reporting for decision-making.
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