Task 3.1

For a company engage in production, the cost per unit is usually derived from the variable costs and fixed costs incurred by a production process, divided by the number of units produced. Since ABC company is not engaged in production, explain how unit costs will be calculated to make pricing decisions by giving suitable example?

Task 3.2

Discuss the following key components of financial statements

. Income statement

. Statement of cashflows

. Statement of changes in equity and gains

. Statement of financial Position

. Notes to the financial statement

Task 3.3

Compare the format which companies use under IFRS to present their financial statement with that of a sole trader or a Partnership or both.