Unit 1 Assignment – Financial For Business, Personal Reflection Question -Total Marks 20 Explain the different ways in which you have used financial data in your real life or professional life to make a decision – possibly with the help of an example. (5 Marks) As an individual, do you think that the accounting standards/ principles are necessary? Provide justification on the same.Balance Sheet of ABC Ltd. as on 31st March 2020.What makes a good balance sheet ? Explain any 5 balance sheet items and analyse the financial position of the firm. Liabilities Amount Assets Amount Share Capital 16.00 Fixed Assets (Net) 60.00 Investments 16.60 Reserves & Surplus 22.00 Cash & Bank 00.20 Secured Loans 21.00 Debtors 11.80 Unsecured Loans 25.00 Inventories 10.60 Current Liabilities 16.00 Prepaid Expenses 00.80 Total 100.00 Total 100.00
