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docx, 63.48 KB
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docx, 66.21 KB
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pptx, 728.37 KB
pptx, 779.66 KB
pptx, 779.66 KB

Income Statements - Learning Objectives
Students should be able to:

  • understand the importance of financial statements for assessing business performance and helping make business decisions
  • identify the main components of the income statement and the statement of financial position

Statement of Financial Position - Learning Objectives
Students should be able to understand:

  • Understand the importance of financial statements for assessing business performance and helping make business decisions
  • Identify the main components of the income statement and the statement of financial position
  • Understand the difference between assets and liabilities and that the statement of financial position is a snapshot in time
  • Make judgements on the performance of a business through the interpretation of the information contained in income statements
  • Consider current performance, performance against previous years, performance against competitors and performance from the perspective of a range of stakeholders
  • Calculate gross profit margin and net profit margin to help assess financial performance.

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