3.4 Final accounts

• Analyse the purpose of accounts for different stakeholders

• Accounts inform owners, managers, employees, lenders, investors, suppliers, government, and competitors

• Prepare and interpret profit and loss accounts and balance sheets

• Final accounts summarize financial performance and financial position

• Analyse different types of intangible assets

• Intangible assets include brand value, goodwill, patents, trademarks, copyrights, and intellectual property