BÀI GIẢNG kế TOÁN QUỐC tế chapter 17 preparation of financial statements for sole traders
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Chapter 17
PREPARATION OF FINANCIAL
STATEMENTS FOR SOLE TRADERS
Learning Objectives
1. Preparation of final accounts
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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
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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
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