Preparation Of Financial Statements
Akopọ
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.
Awọn Afojusun
- 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.
Àwòrán ọpọlọ
A ti ṣe àwòrán kókó yìí kí o lè rí bí àwọn èrò ṣe so pọ̀.
Ṣí àwòrán ọpọlọ nínú áàpù
Akọ̀wé Ẹ̀kọ́
Àkọsílẹ̀ Ẹ̀kọ́ Pípé wà lórí Ohun Èlò Green Bridge
Gba ohun èlò Green Bridge CBT sórí fóònù tàbí kọ̀mpútà rẹ fún gbogbo ilé ìkàwé IGCSE: ìwé ìdánwò àtijọ́, ìlànà ìdíwọ̀n, àwòrán èrò, káàdì ìkẹ́kọ̀ọ́ àti ẹ̀kọ́ ohùn.
Ìdánwò Ẹ̀kọ́
Oriire fun ipari ẹkọ lori Preparation Of Financial Statements. Ni bayi ti o ti ṣawari naa awọn imọran bọtini ati awọn imọran, o to akoko lati fi imọ rẹ si idanwo. Ẹka yii nfunni ni ọpọlọpọ awọn adaṣe awọn ibeere ti a ṣe lati fun oye rẹ lokun ati ṣe iranlọwọ fun ọ lati ṣe iwọn oye ohun elo naa.
Iwọ yoo pade adalu awọn iru ibeere, pẹlu awọn ibeere olumulo pupọ, awọn ibeere idahun kukuru, ati awọn ibeere iwe kikọ. Gbogbo ibeere kọọkan ni a ṣe pẹlu iṣaro lati ṣe ayẹwo awọn ẹya oriṣiriṣi ti imọ rẹ ati awọn ogbon ironu pataki.
Lo ise abala yii gege bi anfaani lati mu oye re lori koko-ọrọ naa lagbara ati lati ṣe idanimọ eyikeyi agbegbe ti o le nilo afikun ikẹkọ. Maṣe jẹ ki awọn italaya eyikeyi ti o ba pade da ọ lójú; dipo, wo wọn gẹgẹ bi awọn anfaani fun idagbasoke ati ilọsiwaju.
- 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
Ṣiṣẹ́ lórí àwọn ìbéèrè wọ̀nyí nínú ohun èlò náà
Ṣiṣẹ́ lórí àwọn ìbéèrè wọ̀nyí nínú ohun èlò náà
Awọn Iwe Itọsọna Ti a Gba Nimọran
Ṣe Adaṣe Awọn Ibeere Idanwo Adaṣe
Ṣe o fẹ ṣe adaṣe awọn ibeere idanwo adaṣe nipa Preparation Of Financial Statements? Ṣe igbasilẹ ohun elo Green Bridge CBT lati wọle si awọn ibeere idanwo adaṣe ati awọn ayẹwo adaṣe kikun fun koko-ọrọ yii.
Ṣe igbasilẹ ohun elo naa lori Google Playstore
Gbogbo ohun ti o nilo lati ṣe dara julọ ninu JAMB, WAEC ati NECO.
