It not only prepares you for what follows in the rest of the book but it outlines a number of accounting issues that will face you when you become a manager in the real world. We suggest that among the long list of questions that you might well ask within your organisation are the following: 

● Are we subject to the Companies Act 2006? 

● Do we adopt International Accounting Standards or UK (or another country’s) standards? 

● Are we without a doubt a ‘going concern’? 

● How do we determine what is an immaterial error in our financial statements?