Business Management · Unit 3: Finance and accounts

3.4 — Final accounts

Business Management · SL / HL · syllabus-mapped notes

1. Purpose of accounts

   Different stakeholders: owners, investors, lenders, government, employees, use accounts for different decisions.

2. The final accounts

3. Intangible assets

   Non-physical assets with value, goodwill, patents, trademarks and brands.

4. Depreciation

   Straight-line spreads cost equally each year; the units-of-production method bases it on usage. The right method depends on how the asset loses value.