3.6 preparation of financial statements of sole traders

  • Created by: DCN18
  • Created on: 27-10-18 11:05
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  • 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
      • Goods taken for own use
      • Accruals and prepayments
      • Inventory

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