Employees – Knowsia

BMIS – L1 – QA1 – Stakeholders

Define connected stakeholders in a company context.

Question

(a) Define ‘connected stakeholders’.

(b) Explain at least one way in which each of the following stakeholders might affect important decisions taken by the board of directors of a large stock market company.

(i) Employees of the company

(ii) Suppliers

(iii) Customers

(iv) A pressure group or special interest group.

Answer

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Tags: Board Decisions, Customers, Employees, Pressure Groups, Stakeholders, Suppliers
Level: Level 1

Topic: The business organisation and its stakeholders

FR – L2 – Q4 – Conceptual Framework

Explain the term "Conceptual Framework" in relation to IFRS Accounting Standards.

Question

(a). Explain the term “Conceptual Framework” in relation to IFRS Accounting Standards.

(b). Define assets and liabilities.

(c) The International Accounting Standards Board’s Conceptual Framework requires that entities should comply with certain accounting concepts and underlying assumptions which include:
(i) Substance over form;
(ii) Materiality;
(iii) Comparability; and
(iv) Going concern.

Explain briefly the meaning of these concepts.

(d). Discuss the information needs of the following users of a company’s financial statements:

(i) Lenders;

(ii) Suppliers;

(iii) Customers;

(iv) Employees; and

(v) Government and its agencies.

Answer

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Tags: Customers, Employees, Government, Information Needs, Lenders, Suppliers, Users
Level: Level 2

Topic: Financial Statements Discussion and Analysis

Tag (SQ): Employees

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BMIS – L1 – QA1 – Stakeholders

Define connected stakeholders in a company context.

FR – L2 – Q4 – Conceptual Framework

Explain the term "Conceptual Framework" in relation to IFRS Accounting Standards.

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Tag (SQ): Employees

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BMIS – L1 – QA1 – Stakeholders

Define connected stakeholders in a company context.

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FR – L2 – Q4 – Conceptual Framework

Explain the term "Conceptual Framework" in relation to IFRS Accounting Standards.

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