company accounts

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summarises income and details the profit/losses made by a business in the accounting period
income statement
1 of 11
income earned in the accounting period from trading activities
sales revenue
2 of 11
opening inventories+purchases-closing inventories
costofsales
3 of 11
sales revenue- cost of sales
grossprofit
4 of 11
gross profit - expenses
netprofit
5 of 11
details in summary format, the financial position of the business
sofp
6 of 11
items of value held by a business which is likely to generate future income
assets
7 of 11
liabilities that the business expects to pay within aone year accounting period
currentliabilities
8 of 11
the value of funds within the business which can be attributed to the owner/s
equity
9 of 11
a proportion of a company profits paid to the owners shares in a particular company.
dividend
10 of 11
money introduced into the business through the sale of shares
sharecapital
11 of 11

Other cards in this set

Card 2

Front

income earned in the accounting period from trading activities

Back

sales revenue

Card 3

Front

opening inventories+purchases-closing inventories

Back

Preview of the front of card 3

Card 4

Front

sales revenue- cost of sales

Back

Preview of the front of card 4

Card 5

Front

gross profit - expenses

Back

Preview of the front of card 5
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