3.6 preparation of financial statements of sole traders
- Created by: DCN18
- Created on: 27-10-18 11:05
View mindmap
- 3.6 Preparation of financial statements of sole traders
- Different concepts used in preparation of financial statements
- Provision for doubtful debts
- disposal of NCA's
- bad debts
- Depreciation
- Reducing balance method
- A fixed percentage written off the reduced balance each year
- Straigh line method
- A fixed percentage of the original cost is written off the asset each year the asset is owned
- Reducing balance method
- Goods taken for own use
- Accruals and prepayments
- Inventory
- Different concepts used in preparation of financial statements
Comments
No comments have yet been made