BÀI GIẢNG kế TOÁN QUỐC tế chapter 17 preparation of financial statements for sole traders

Chapter 17PREPARATION OF FINANCIAL STATEMENTS FOR SOLE TRADERS... Preparation of final accounts... Preparation of final accounts Final accounts You have now revised all areas necessary

Chapter 17

PREPARATION OF FINANCIAL

STATEMENTS FOR SOLE TRADERS

Learning Objectives

1 Preparation of final accounts

Preparation of final accounts

Final accounts

You have now revised all areas necessary to prepare the final accounts of a sole trader

Areas you should be totally familiar with are

as follows

•Ledger accounts

•Trial balance

•Format of income statement and statement of

financial position

Preparation of final accounts

In addition, you should be able to deal with the following adjustments:

•Depreciation

•Inventory

•Accruals and prepayments

•Irrecoverable debts

•Allowance for receivables

•Profit/loss disposal of non-current assets