©EMILLECT 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED
FIRST PUBLISH OCTOBER 2024
ACCA BT Chapter 12 Law and Regulation
Governing Accounting Exam Study Guide
Regulatory bodies - Authorities - ANSWER✔✔companies and houses in the UK
Other Authorities - Authorities - ANSWER✔✔financial conduct authority, charities, Commission and
OFGEM in the UK
Tax Authorities - Authorities - ANSWER✔✔companies and individuals must prepare tax returns each year
authorities may want to verify information at a future date - ANSWER✔✔organisations have to keep the
accounting records for 7 years
CA2006 in the UK require financial statements - ANSWER✔✔true and fair view of the position and
performance of company
true and fair view guidelines - ANSWER✔✔Follow all appropriate accounting standards
Information of sufficient quantity
Follow generally-accepted practice
Content not misstated
Page 1/4
FIRST PUBLISH OCTOBER 2024
ACCA BT Chapter 12 Law and Regulation
Governing Accounting Exam Study Guide
Regulatory bodies - Authorities - ANSWER✔✔companies and houses in the UK
Other Authorities - Authorities - ANSWER✔✔financial conduct authority, charities, Commission and
OFGEM in the UK
Tax Authorities - Authorities - ANSWER✔✔companies and individuals must prepare tax returns each year
authorities may want to verify information at a future date - ANSWER✔✔organisations have to keep the
accounting records for 7 years
CA2006 in the UK require financial statements - ANSWER✔✔true and fair view of the position and
performance of company
true and fair view guidelines - ANSWER✔✔Follow all appropriate accounting standards
Information of sufficient quantity
Follow generally-accepted practice
Content not misstated
Page 1/4
