Task 1 - Presentation with supporting notes You are to produce a presentation for the introductory session with the trainees. These materials will be inserted into the reference file. Your presentation must provide: an explanation of the role of accounting concepts and standards in financial accounting an explanation of the characteristics of a public limited company's Income statement, statement of financial position and cash flow statement. In addition you need to produce some pages for the reference file which: .evaluate the usefulness of a public limited company's annual report assess the roles and responsibilities of Directors and Auditors with regard to published company accounts .analyse the usefulness of the elements of a public limited company's annual report to company stakeholders. LO1 AC 1.1, 1.2, 1.3, 1.4, 1.5 Extension activities: To gain a merit grade you must prepare an information sheet to support your presentation. This sheet must: assess how legislation affects business organisations accounting processes. 1M1 To gain a distinction grade you must include additional section for the reference file. This must provide a: .critical review of the impact on limited companies of the International Accounting Standards