prepare opening and closing statements of affairs;
- calculate net profit or loss from changes in capital over time;
- calculate sales, purchases, gross profit, debtors (trade receivables) and creditors (trade payables) and other figures from incomplete information;
- prepare income statements (trading and profit and loss accounts) and balance sheets;
- make adjustments to financial statements (final accounts)
- apply the techniques of mark-up, margin and stock (inventory) turnover to arrive at missing figures.
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