Accounting Fundamentals assignment

PART A: USING FINANCIAL STATEMENTS Business Environment Question 1: Briefly describe the main operation (activities) of the company. The main operation of the company Hallenstein Glasson Holdings Ltd is to sell men and women's clothing. Question 2: For whom is the annual report prepared. Provide specific referenced information here from the Statement of Concepts. The annual report is prepared to provide information for external users such as, providers of resources to such entities for example suppliers, lenders, …

…ARTICLE David Cairns. (1999 August 23). Not quite standardised: Readers of financial statements should beware when companies claim to comply with International Accounting Standards. London times. Retrieved May 2, 2004, from www.winactec.com. BOOKS Denis H. Bourke, Murray J. Smart (2002). Principles of Accounting. (1st ed). Pearson Education NZ Lt: Malaysia. EXTRACT Extract from Westwood, M. (2002) Financial Accounting in New Zealand Issued by the council, NZ Society of Accountants (1993). Statement of Concepts for General Purpose Financial Reporting. (Revised November 2001).