Question 1 Addressees of financial accounting (540 words max., 12 marks)

1. Identify the primary addressees of financial accounting for Metalwise plc. Explain why these addressees are important to Metalwise and why they have an interest in Metalwises financial accounting information.

2. Focus on Metalwises long-term liabilities in its draft statement of financial position and identify another group of addressees for Metalwise. Explain why this group of addressees has an interest in Metalwises financial accounting information and comment on its importance for Metalwise relative to the addressees identified in a).

Metalwise plc (Metalwise) is a company which purchases metals which it then processes into high-purity metals and alloys. Its shares are listed at the London Stock Exchange and it has a 31 December year-end. Metalwise plc uses International Financial Reporting Standards (IFRS) to prepare its financial statements. Your role You are employed in the accounting department at Metalwise. The financial controller is on long term sick leave and the CEO has asked you to finalise the financial statements of Metalwise for the year ended 31 December 2020. Question 1 Addressees of financial accounting (540 words max., 12 marks) a) Identify the primary addressees of financial accounting for Metalwise plc. Explain why these addressees are important to Metalwise and why they have an interest in Metalwise's financial accounting information. b) Focus on Metalwise's long-term liabilities in its draft statement of financial position and identify another group of addressees for Metalwise. Explain why this group of addressees has an interest in Metalwise's financial accounting information and comment on its importance for Metalwise relative to the addressees identified in a)