The compilation of these Accountancy Notes makes students exam preparation simpler and organised.
Financial Statements
Financial Statements are like a report card for the company. They represent a record of all the financial transactions of a given year and the current financial position of the company at year-end. They are of great importance to every stakeholder of the company.
- An Introduction to Financial Statements
- Distinction between Capital Revenue and Capital Expenditure
- Operating Profit
- Trading and Profit and Loss Account
- Balance Sheet and Opening Entry
- Stakeholders and their Information Requirement
- Depreciation, Bad Debts, and Provision for Bad and Doubtful Debts
- Need for Adjustment, Closing Stock, and Outstanding Expenses
- Prepaid Expenses, Accrued Income and Income Received in Advanced
- Provision for Discount on Debtors, Managers Commission and Interest on Capital
- Manufacturing Account