Unit 10 - Worksplace based K&U 1

Tiger Registered Posts: 63 Regular contributor ⭐
Hi can anyone give me some help in what I can put in my report to cover Knowledge & understanding 1 'External Regulations affecting accounting practice'.

My report recommendation is basically to set up an accurate and reliable sales ledger, with bank recs and credit control buit in.
I don't see how this is affected by the FRS's & IAS's as its not financial statements...
I'm nearly finished but stuck on how I can meet this criteria??

Can anyone suggest please??
Many Thanks


  • Gem7321
    Gem7321 Registered Posts: 1,438 Beyond epic contributor 🧙‍♂️
    It's not just FRS and IAS, you've got the companies act, VAT regulations etc.

    VAT could be a good one, how does your new sales ledger system help record output VAT accurately?

    Good luck!

Privacy Policy