What you’ll learn5 learning objectivesChoose one objective for a focused lesson, or study the complete topic.3.4.1Purpose of accounts• Analyse the purpose of accounts for different stakeholders• Accounts inform owners, managers, employees, lenders, investors, suppliers, government, and competitorsSyllabus objective3.4.2Final accounts• Prepare and interpret profit and loss accounts and balance sheets• Final accounts summarize financial performance and financial positionSyllabus objective3.4.3Intangible assets• Analyse different types of intangible assets• Intangible assets include brand value, goodwill, patents, trademarks, copyrights, and intellectual propertySyllabus objective3.4.4(HL)—Depreciation methods• Apply straight line method and units of production method• Depreciation allocates non-current asset cost across useful lifeSyllabus objective3.4.5(HL)—Depreciation method suitability• Evaluate appropriateness of each depreciation method• Suitability depends on asset use pattern, simplicity, accuracy, profit impact, and stakeholder interpretationSyllabus objective
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