As an assistant financial manager of Milestone Ltd which is listed in London Stock Market, you are

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Question:

As an assistant financial manager of Milestone Ltd which is listed in London Stock Market, you are requested by the company's CFO to do a report. The report will be used as one of the educational documents in a training programme for the newly recruited junior accounting staff. You are encouraged to cover the following areas by using Milestone Ltd as a given sample.

Definition, purpose and importance of financial.

Various components of financial statements

Key qualitative characteristics of financial information

Interpretation of financial statements by using financial ratios

You can make any reasonable assumptions regarding the given sample of Milestone Ltd. Your report should aim to provide trainees with a broad and introductory review of this area covering, for example:

Introduction

A basic knowledge of the topic: definitions, concepts, and relevant terminologies, and aim of the report

Main body discussions

What is the purpose of financial reporting, and why is it important for stakeholders such as investors, creditors, and regulators?

What are the key qualitative characteristics of financial information, and how do they impact on the usefulness of financial statements?

How do the various components of financial statements, such as statement of profit or loss, statement of financial position, and statement of cash flow, interrelate and contribute to a comprehensive understanding of a company's financial performance?

How can financial ratios be used to interpret and analyze financial statements, and what insights can they provide into a company's financial health and prospects for growth?

Conclusion : Your own understandings of, comments on, arguments and contributions to the topic, and any other important issues which you think should be addressed.