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Final Accounts Financial Accounting : Study Notes, Question Answers, Problems Solutions

final,accounts,financial,accounting,trading,profit,loss,account,balance,sheet,trial,balance,work,sheet,adjustments

Topics for Study  

  • Preparation of Final Accounts

  1. Organisations need for additional information
  2. Making up Final Accounts :: To derive the additional information needed
  3. Preparing Trading and Profit & Loss a/c :: To derive information relating to profits
  4. Preparing Trading and Profit & Loss a/c :: Illustration.
  5. Preparing the Balance Sheet » To Derive Information relating to Position :: Illustration
  6. Need for a Seperate "Trading a/c" and "Profit & Loss a/c"
  7. Transfer of Net Profit to "Capital a/c" or "Profit & Loss Appropriation a/c"
  8. Using Trial Balance in the Preparation of Final Accounts
  9. What are Adjustments? Dealing with them in preparing Final Accounts
  10. Trading Account » Ascertaining Cost of Goods Sold.
  11. Trading Account » Closing Stocks, Opening Stocks Valuation.
  12. Trading Account » Recording Closing Stock and Opening Stock.
  13. Trading Account » Purchase Returns and Sales Returns.
  14. Bases/Systems of Accounting » Cash, Mercantile, Hybrid.
  15. Converting the Basis/System of Accounting » Cash to Mercantile ...
  16. Finding Profits of a period under a Basis given profits under the other
  17.  
  18. More Topics » Under Construction.
  19.  

  • Adjustments

  1. Expenditure » Outstanding and Prepaid
  2. Incomes » Receivable and Prereceived
  3. Drawings of Goods/Stock » Used up by owners Personally
  4. Goods/Stock used in the building up or construction of an asset
  5. Goods/Stock used for Advertisement Purposes
  6. Valuation of Normal/Abnormal Losses
  7. Abnormal Loss :: Accounting Treatment & Adjustments
  8. Normal Loss :: Accounting Treatment & Adjustments
  9.  
  10. More Topics » Under Construction.
  11.  

Author Credit : The Edifier

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