This chapter introduces financial statements—the Trading and Profit & Loss Account and the Balance Sheet. It details their purpose of determining a business's profit/loss and financial position. Key topics include the distinctions between Capital and Revenue Expenditure/Receipts, calculations for Gross and Operating Profit, and the different arrangements of assets and liabilities in the Balance Sheet (liquidity/permanence).
Financial Statement I | ||
1 | ◼️Financial Statement: Meaning ◼️Users of Accounting information ◼️Accounting Process ◼️Trading, Profit & Loss Account | |
2 | ◼️Objectives of Financial Statement ◼️Items in Trading Profit & Loss Account | |
3 | ◼️Cost of Goods Sold ◼️Operating Profit ◼️Introduction to Balance sheet | |
4 | ◼️Marshaling of Assets & Liabilities ◼️Preparation of Final Accounts | |
| Presented by Suku | ||
