Reference no: EM132447430

Question a) Compare and contrast financial accounting reports from management accounting reports, providing two examples for each.

Question b) For a public company whose shares are listed on the stock exchange, answer the following questions.

• Who owns the company? In what ways do they gain ownership?
• Apart from shareholders, who else might be interested in the contents of financial accounting reports?

Question c) For each of the following items, classify them as either; asset, liability or equity.

1. Paid up capital
2. Bank loan
3. Provision for annual leave
4. Brand names and intellectual property
5. Accounts receivable
6. Prepaid insurance premiums
7. Deposit paid by a customer for work yet to be done
8. Retained profit

Question d) Explain the term 'depreciation expense' using any practical example.