LO 2.13 - Prepare final accounts
Learning Intentions
By the end of this section you should be able to do the following
1. Explain the different between current and capital expenditure - include examples
2. Identify different business expenses
3. Prepare an income statement to calculate net profit
4. Calculate the closing reserve for a business
5. Describe the purpose of a statement of financial position
6. Distinguish between fixed assets, current assets and creditors
7. Prepare a statement of financial position
1. Explain the different between current and capital expenditure - include examples
2. Identify different business expenses
3. Prepare an income statement to calculate net profit
4. Calculate the closing reserve for a business
5. Describe the purpose of a statement of financial position
6. Distinguish between fixed assets, current assets and creditors
7. Prepare a statement of financial position
Videos
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Assessment - Flash Cards
Pop Quiz
Income Statement
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Statement of Financial Position
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Final Account Layout
Layout of the income Statement
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Layout of the Statement of financial position
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Additional resources
Chapter notes
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Self Assessment - Quizlet
Click here to find an interactive game to help you with the definition for this chapter
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Playing Cards |
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Sound files - MP3
Incoem statement
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Statement of Finanical Position
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