Identify four users of Sainsbury’s Accounting Information and why each needs the Accounting Information.

READ AND UNDERSTAND THE FOLLOWING INSTRUCTIONS:
1. You are required to provide answers to the assessment questions below.
2. Take note of the mark scheme.
3.Note, the distribution of the word count below is merely illustrative of how you
may choose to distribute the total number of word available for this assessment, but
you may also do this as you see fit.
Questions
1. Identify four users of Sainsbury’s Accounting Information and why each needs the Accounting Information.
2. Identify and explain four main differences between Financial Accounting and Management Accounting.
3. Explain the following four fundamental concepts of Accounting giving illustrations: i) Business Entity; ii) Going Concern; iii) consistency and iv) monetary value .
4. Distinguish between the two main types of Financial Statement by constructing sample formats from each