Learning outcomes

After studying this course, you should be able to:

• understand the legal characteristics of limited companies and how these characteristics are different from those of sole traders and partnerships

• understand company financing through share capital and loan capital

• understand the interests and information needs of different company stakeholders

• identify and explain three perspectives on the role of companies and company financial reporting in society

• understand the differences in layout between financial statements for companies and those of sole traders, and explain how and why they are different from sole trader financial statements.