financial accounting reports

a) Compare and contrast financial accounting reports from management accounting reports, providing two examples for each. (2 Marks)

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? (2      Marks)
• Apart from shareholders, who else might be interested in the      contents of financial accounting reports? (2 Marks)

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

• Paid up capital
• Bank loan
• Provision for annual leave
• Brand names and intellectual property
• Accounts receivable
• Prepaid insurance premiums
• Deposit paid by a customer for work yet to be done
• Retained profit (2      marks)

d) Explain the term 'depreciation expense' using any practical example. (2 marks)