Filleted financial statements and Homogeneous: Difference between pages

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Filleted financial statements are accounts which contain less information than full accounts.
A homogeneous product has no distinguishing features, meaning that a consumer's preference is driven purely by price.


Most financial reporting systems allow smaller and medium-sized organisations to report limited financial information in this way for some purposes, in order to reduce the administrative burdens on them. For example, UK company law allows smaller entities to report less information for the public record at Companies House, compared with larger organisations.


However, fuller-form and more detailed accounts are normally still required for other purposes. For example, for most tax purposes and for reporting to shareholders.
== See also ==
* [[Commodity]]
* [[Oligopoly]]
* [[Perfect competition]]


 
[[Category:The_business_context]]
Also known as filleted accounts.
 
 
==See also==
* [[Abridged accounts]]
* [[Companies House]]

Revision as of 15:30, 1 July 2022

A homogeneous product has no distinguishing features, meaning that a consumer's preference is driven purely by price.


See also