Regulation of Financial Statements; Compare and contrast the characteristics of sole traders and limited companies

a) Compare and contrast the characteristics of sole traders and limited companies. Explain why there are differences in the regulation of the financial statements produced by sole traders and limited companies in the UK.

b) Financial Reporting Standards are not the best way to regulate the preparation of financial statements . Using suitable examples, discuss this statement with particular reference to the arguments for and against the use of FRSs in the UK.

Academic accounting journals that you might find useful:
AOS – Accounting, Organisations and Society
AAAJ – Accounting, Auditing and Accountability Journal
BAR – British Accounting Review
EAR – European Accounting Review

Still stressed from student homework?
Get quality assistance from academic writers!