Preparation Of Financial Statements
Gbogbo ọrọ náà
All year the books have been recording, checking and adjusting. Now comes the moment everything was for: turning a page of balances into two statements that answer the only two questions anybody outside the business really asks. Did it make money this year, and what is it standing on? An income statement answers the first, and a statement of financial position answers the second.
The model is the same whoever owns the business, but the finishing changes. A sole trader keeps every penny of the profit, so her statements are the simplest. Partners have to divide the profit according to their agreement. A limited company is owned by shareholders and pays them dividends. A manufacturer has to work out what its own goods cost to make before it can say what they cost to sell. A club is not trying to make a profit at all. And a trader who never kept a ledger can still be told what she earned. This lesson prepares all six.
Ebumnobi
- The use of concepts in the preparation of financial statements.
- The advantages and disadvantages of different organisations.
- Sole traders: Prepare financial statements of sole traders from ledger accounts including adjustments from the application of accounting concepts.
- Prepare and comment on income statements and statements of financial position from a trial balance including adjustments from the application of accounting concepts. Partnerships: Prepare and comment on the financial statements of partnerships.
- Prepare and comment on the capital and current accounts of partners.
- Limited companies: Prepare and comment on the internal financial statements of limited liability companies.
- Manufacturing organisations: Prepare and comment on the financial statements of manufacturers.
- Clubs and non-profit making organisations: Prepare and comment on the financial statements of clubs and non-profit making organisations.
- Accounting for organisations with incomplete records: The calculation of profit of an organisation where there are insufficient records to prepare income statements. The benefits and limitations of maintaining accounting records using different systems including single and double entry records.
Maapụ uche
E seela isiokwu a ka ị hụ otu echiche si ejikọta.
Mepee maapụ uche na ngwa
Akwụkwọ Ọmụmụ
Ndetu Nkuzi Zuru Ezu di na Ngwa Green Bridge
Nweta ngwa Green Bridge CBT na ekwenti gi ma o bu kompiuta maka ulo akwukwo IGCSE zuru oke: akwukwo ule ndi gara aga, usoro nyocha, eserese uche, kaadi omumu na nkuzi olu.
Nnyocha Ọmụmụ
Ekele diri gi maka imecha ihe karịrị na Preparation Of Financial Statements. Ugbu a na ị na-enyochakwa isi echiche na echiche ndị dị mkpa, ọ bụ oge iji nwalee ihe ị ma. Ngwa a na-enye ụdị ajụjụ ọmụmụ dị iche iche emebere iji kwado nghọta gị wee nyere gị aka ịmata otú ị ghọtara ihe ndị a kụziri.
Ị ga-ahụ ngwakọta nke ụdị ajụjụ dị iche iche, gụnyere ajụjụ chọrọ ịhọrọ otu n’ime ọtụtụ azịza, ajụjụ chọrọ mkpirisi azịza, na ajụjụ ede ede. A na-arụpụta ajụjụ ọ bụla nke ọma iji nwalee akụkụ dị iche iche nke ihe ọmụma gị na nkà nke ịtụgharị uche.
Jiri akụkụ a nke nyocha ka ohere iji kụziere ihe ị matara banyere isiokwu ahụ ma chọpụta ebe ọ bụla ị nwere ike ịchọ ọmụmụ ihe ọzọ. Ekwela ka nsogbu ọ bụla ị na-eche ihu mee ka ị daa mba; kama, lee ha anya dị ka ohere maka ịzụlite onwe gị na imeziwanye.
- Which item is added to purchases when calculating the cost of sales? A. Carriage inwards B. Carriage outwards C. Discount received D. Returns outwards Answer: A
- Femi and Grace are partners sharing profits and losses in the ratio 2:1. The profit for the year was $54 000 before Grace's salary of $6 000. What is Femi's share of the residual profit? A. $16 000 B. $18 000 C. $32 000 D. $36 000 Answer: C
- Where would subscriptions in arrears be shown in the statement of financial position of a club? A. Accumulated fund B. Current assets C. Current liabilities D. Non-current assets Answer: B
- Which item is NOT shown in a receipts and payments account of a club? A. Depreciation of equipment B. Purchase of equipment C. Rent paid D. Subscriptions received Answer: A
- What does the abbreviation Ltd indicate in a company's name? A. The company's borrowing is limited B. The company's profits are limited C. The number of shareholders is limited D. The shareholders' liability for the company's debts is limited Answer: D
Rue ajuju ndi a n'ime ngwa ahu
Rue ajuju ndi a n'ime ngwa ahu
Akwụkwọ A Na-atụ Aro
Meecha Ajụjụ Ule Ọmarịcha
Ị chọrọ ime ajụjụ ule ọmarịcha gbasara Preparation Of Financial Statements? Budata ngwa Green Bridge CBT iji nweta ajụjụ ule ọmarịcha na nyocha zuru ezu gbasara isiokwu a.
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