Syllabus C4

The sources and purpose of internal and external financial information 4 / 8

a) Explain the various business purposes for which the following financial information is required:
(i) The statement of profit or loss
(ii) The statement of financial position 
(iii) The statement of cash flows
(iv) Sustainability and integrated reports
b) Describe the main purposes of the following types of management accounting reports:
 i) Cost schedules
(ii) Budgets
(iii) Variance reports