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Financial Accounting

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Financial Accounting (Mgt-101)
VU
Lesson-45
FINANCIAL STATEMENTS OF LISTED COMPANIES
QUESTION # 1
Following is the trial balance of Sheraz Ltd. as on June 30, 2002.
Sheraz Ltd.
Trial Balance as On June 30 2002
DEBIT
CREDIT
Rs'000
Rs'000
Tangible Fixed Assets
Fixed Assts At Cost
Freehold Land
9,550
Building
15,815
Plant and Machinery
54,636
Furniture and Fixture
2,698
Motor Vehicles
24,111
Leased Vehicles
22,123
Accumulated Dep.
Building
10,775
Plant and Machinery
47,315
Furniture and Fixture
2,474
Motor Vehicles
12,347
Leased Vehicles
12,186
Capital Work in Progress
4,075
Long Term Investments
Investment in Shares of Co. A
20,000
Investment in Shares of Co. B
2,500
Prov. For Diminution in Value Co. B
1,250
Long Term Deposits
Long Term Deposits
3,069
Current Assets
Stores and Spares
1,114
Stock in Trade Jul 01 2001
-
Raw Material
13,264
Packing Material
42,189
Finished goods
85,296
Trade Debts
Trade Debts
18,185
Provision for Doubtful Debts
223
Adv. Dep. & Prepayments
-
Advances
2,434
Deposits
816
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Prepayments
1,637
Accrued Profit on Bank Dep
388
Advance Excise Duty
2,601
Sales Tax Refundable
8,492
Other Receivables
375
Dividend Receivable
25,000
Cash and Bank
-
Cash in Hand
3,330
Cash at Bank - Current
25,024
Cash at Bank - Savings
16,521
Current Liabilities
Short Term Running Finance
5,257
Creditors, Accrued & Other L.
-
Creditors
63,016
Customers Deposits
22,571
Accrued Exp.
22,448
Other Liabilities
1,826
Tax Payable
3,858
Dividends
200
Long Term and Deff. Lia
Deff. Tax
3,000
Oblig. Under Lease Finance
15,282
Share Capital
50,000
General Reserve
104,000
Sales
-
Gross Sale - Domestic
751,244
Gross Sale - Export
93,305
Sales Tax
106,158
Cost of Sales
Purch. During the Year Raw M
291,569
Purch. During the Year Packing M
190,295
Overheads
Wages
23,155
Stores Consumed
7,922
Traveling and Conv.
158
Repairs and Maint.
10,267
Insurance
345
Fuel and Power
23,339
Bottle Breakage
6,552
Excise Duty
49,671
Misc. Expenses
7,412
Admin. Expenses
-
Salaries and Wages
36,117
Postage and Telegram
1,652
Traveling and Conveyance
1,075
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Repairs and Maint.
1,272
Insurance
1,179
Printing and Stationery
1,121
Rent, Rates and Taxes
1,155
Auditors' Remuneration
161
Legal and Professional
768
Donations
81
General Expenses
400
Selling and Distribution Expenses
-
Salaries and Wages
23,227
Postage and Telegram
1,578
Traveling and Conveyance
2,616
Repairs and Maint.
6,168
Vehicle Running
859
Printing and Stationery
497
Rent, Rates and Taxes
1,954
Advertising
19,254
Outward Freight
9,628
Sales Staff Incentives
1,642
Petrol, Oil etc.
8,561
Misc. Expenses
1,392
Financial Charges
-
Markup on Loans
282
Finance Lease Charges
1,750
Bank Charges
825
Other Expenses and Provisions
-
Other Income
-
Profit on Bank Deposits
974
Dividends Income
25,100
Foreign Exchange Gain
5,732
Gain on Disposal of F. Assts.
692
Sale of Scrap
1,470
Income Tax for the year
14,800
Unappropriated Profit B/F
5,555
1,262,100
1,262,100
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Adjustments
1. Provision for diminution in the value of investments to be increased to Rs.
1,875.
2. Long term deposits maturing during the year Rs. 291
3. Provision for doubtful debts to be increased by Rs. 987
4. 60% Dividend declared.
5. Liability against lease finance payable in current year Rs. 6,643
6. Authorized capital of 10,000,000 shares of Rs. 10 each.
7. Transfer to general reserve 21,000
8. Addition in Fixed Assets, Plant and Mach. 2,262
9. Furniture 989, Owned vehicles 1758
10. Cash received on disposal of vehicles Rs. 1,316
11. Dep. Building 10% Plant and Furniture 15% and
Vehicles 20% on written down value.
12. No depreciation on year of sale and full dep in the year of purchase.
13. Distribution of Depreciation
Building and Plant to Cost of Sales
Furniture and Owned Vehicles to Admin Expenses
Leased Vehicles to Selling Expenses
14. Closing Stocks
Raw Material
27,545
Packing Material
74,731
Finished Goods
78,550
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You are also provided with the following balance sheet as at June 30, 2001.
Sheraz Ltd.
Balance Sheet As At June 30, 2001
2001
Note
Rs'000
Tangible Fixed Assets
Operating Fixed Assets
39,451
Capital Work in Progress
-
Long Term Investments
21,250
Long Term Deposits
2,004
62,705
Current Assets
Stores and Spares
1,405
Stock in Trade
188,639
Trade Debts
24,984
Adv. Dep. And Prepayments
8,826
Cash and Bank Balances
24,437
248,291
Current Liabilities
Short Term Running Finances
3,111
Current Maturity of Obligation
under lease finance
3,425
Creditors, Accrued and Other
liabilities
99,109
Tax Payable
5,472
Divided Payable
30,164
141,281
Working Capital
107,010
Total Capital Employed
169,715
Financed By
Share Capital and Reserves
Share Capital
50,000
General Reserve
104,000
Unappropriated Profit
5,555
Shareholders Equity
159,555
Long Term Liabilities
Deferred Taxation
3,000
Obligation under Lease Finance
7,160
10,160
TOTAL
169,715
Prepare a set of financial statements as on June 30,2002.
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SOLUTION
Sheraz Ltd.
Balance Sheet As At June 30, 2002
2002
2001
Note
Rs'000
Rs'000
Tangible Fixed Assets
Operating Fixed Assets
3
37,859
39,451
Capital Work in Progress
4,075
-
Long Term Investments
4
20,625
21,250
Long Term Deposits
5
2,778
2,004
65,337
62,705
Current Assets
Stores and Spares
1,114
1,405
Stock in Trade
6
180,826
188,639
Trade Debts
7
16,975
24,984
Adv. Dep. And Prepayments
8
42,034
8,826
Cash and Bank Balances
9
44,875
24,437
285,824
248,291
Current Liabilities
Short Term Running Finances
5,257
3,111
Current Maturity of Obligation
under lease finance
13
6,643
3,425
Creditors, Accrued and Other
liabilities
10
109,861
99,109
Tax Payable
3,858
5,472
Divided Payable
11
30,200
30,164
155,819
141,281
Working Capital
130,005
107,010
Total Capital Employed
195,342
169,715
Financed By
Share Capital and Reserves
Share Capital
12
50,000
50,000
General Reserve
125,000
104,000
Un-appropriated Profit
8,703
5,555
Shareholders Equity
183,703
159,555
Long Term Liabilities
Deferred Taxation
3,000
3,000
Obligation under Lease Finance
13
8,639
7,160
11,639
10,160
195,342
169,715
Sheraz Ltd.
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Profit and Loss Account for the Year Ended June 30, 2002
2002
2001
Note
Rs'000
Rs'000
Sales
14
738,391
X
Cost of Sales
15
572,210
X
Gross Profit
166,181
X
Other Income
16
33,968
X
Less: Administrative Expenses
17
48,980
X
Selling and Distribution Expenses
18
79,364
X
128,344
X
Profit From Operations
71,805
X
Less: Financial Charges
19
2,857
X
Net Profit Before Taxation
68,948
X
Income Tax for the Year
14,800
X
Profit After Taxation
54,148
X
Un-appropriated Profit Brought Forward
5,555
X
59,703
X
Appropriation
Transfer to Reserve
21,000
X
Proposed dividend @ 60%
30,000
X
51,000
X
Un-appropriated Profit Carried Forward
8,703
X
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Financial Accounting (Mgt-101)
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Sheraz Ltd.
Cash Flow for the Year Ended June 30, 2002
2002
2001
Note
Rs'000
Rs'000
Cash Flow From Operating Activities
Profit Before Tax
68,948
Adjustment for:
Depreciation
5,977
Provision for Doubtful Debts
987
Provision for Dimunition in Value of
Investment
625
Profit on Bank Deposits
(974)
Dividends Income
(25,100)
Gain on Disposal of F. Assts.
(692)
(19,177)
Operating Profit Before Working Capital
changes
49,771
(Increase) / Decrease in C. Assets
Stores and Spares
291
Stock in Trade
7,813
Trade Debts
7,122
Adv. Dep. And Prepayments
(7,989)
7,237
Increase / (Decrease) in C. Liabilities
Short Term Running Finances
2,146
Creditors, Accrued and Other
liabilities
10,752
12,898
Cash Generated From Operations
69,906
Profit on Bank Deposits
(974)
Income Tax Paid
(5,100)
Net Cash Flow from Operations
63,832
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Cash Flow From Investing Activities
Purchase of Fixed Assets
(5,009)
Capital Work in Progress
(4,075)
Sale Proceeds Of Fixed Assets
1,316
Dividend Received
100
Long Term Deposits
(1,065)
(8,733)
Cash Flow from financing Activities
Repayment of Lease Liability
(4,697)
dividend Paid
(29,964)
(34,661)
Net Increase in Cash & Cash Eq.
20,438
O/B of Cash and Cash Eq.
24,437
C/B of Cash and Cash Eq.
44,875
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Financial Accounting (Mgt-101)
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Sheraz Ltd.
Statement of Changes in Equity for the Year Ended June 30, 2002
Share
General
Un-app.
Total
Capital
Reserve
Ptofit
Balance as on June 30,
2000
50,000
104,000
4,119
158,119
Profit after tax for the year
31,436
31,436
Dividend
(30,000)
(30,000)
Balance as on June 30,
2001
50,000
104,000
5,555
159,555
Profit after tax for the year
54,148
54,148
Transfer to reserve
21,000
(21,000)
-
Dividend
(30,000)
(30,000)
Balance as on June 30,
2002
50,000
125,000
8,703
183,703
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NOTES TO THE ACCOUNTS
1. Company and its operations
 The company is a public limited company incorporated in Pakistan and
manufacture ------------
2. Significant accounting policies
 These account have been prepared in accordance with the requirements of the
Companies Ordinance 1984 and International accounting standards as applicable
in Pakistan.
Historical costs
 Historical costs are used as a basis for valuing transactions.
Revenue Recognition
 Sales are recorded upon delivery of goods to the customers. However Exported
goods are considered sold when shipped on board.
Other Policies
 Income from bank deposits, loans and advances are recognized on accrual basis.
 Dividend income is recognized when right to receive is established.
 Research and development casts are expensed as and when incurred.
 Working of all figures, Fixed assets schedule and all agreements. i-e. Lease
agreements and agreements for obtaining loan from banks are included in the
notes to the accounts.
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Financial Accounting (Mgt-101)
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3. FIXED ASSETS SCHEDULE
Cost
R
Accumulated Depreciation
WDV
Particulars
As On
As On
A
As On  On
For
As On
As On
Jul 01
Add.
Disp.
Jun 30
T
Jul 01
Disp.  The
Jun 01
Jun 01
2001
2002
E
2001
Year
2002
2002
Company
Owned
Assets
Freehold
-
9,550
-
-
-
9,550
Land
9,550
Building
15,815
15,815
10
10,775
-
504
11,279
4,536
Plant  and
48,413
6,223
47,315
-
2,262
1,098
54,636
15
Machinery
52,374
Furniture
and Fixture
1,709
989
2,698
15
2,474
-
34
2,508
190
14,700
9,411
14,251
1,758
(2,528)
Vehicles
(1,904)
2,353
24,111
20
24,881
104,329
(2,528)
106,810
74,815 (1,904)
3,989
5,009
76,900
29,910
Leased
Assets
Vehicles
22,123
22,123
20
12,186
1,988
14,174
7,949
22,123
-
-
22,123
12,186
-
1,988
14,174
7,949
126,452
(2,528)
128,933
87,001 (1,904)
5,977
Total 2002
5,009
91,074
37,859
Total 2001
x
x
x
x
x
x
x
x
39,451
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Distribution  of
Depreciation
WORKING
2002
2001
Land
=0
Rs'000
Rs'000
Building = 15,818 - 10,775
= 5,040 x 10%
=
504
Cost
of
Goods Sold
1,602
Plant
= 54,636 - 47,315
= 7,321 x 15%
=
1,098
Admin
Expenses
2,387
Furniture=
2,698 -
2,474
= 224 x 15%
=
34
Selling
Expenses
1,988
Vehicles = 24,111 - 14,251 + 1904 = 11,764 x 20% =
2,353
5,977
x
Vehicles = 22,123 - 12,186
=
9,937 x 20%
=
1,988
Note
2002
2001
Rs'000
Rs'000
4. Long Term Investments
Investment in Shares of Co. A
20,000
20,000
Investment in Shares of Co. B
2,500
2,500
Less: Prov. For Diminution in Value Co. B
1,875
1,250
625
20,625
20,000
5. Long Term Deposits
Long Term Deposits
3,069
2,004
Less: Current Maturity
291
2,778
2,004
6. Stock in Trade
Raw Material
27,545
31,799
Packing Material
74,731
76,540
Finished Goods
78,550
80,300
180,826
188,639
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Trade Debtors
7.
Trade Debts
18,185
25,307
Less: Provision for Doubtful Debts
1,210
323
16,975
24,984
Advances Deposits and Prepayments
8.
Advances
2,434
1,379
Deposits
816
1,730
Prepayments
1,637
1,305
Advance Excise Duty
2,601
2,192
Sales Tax Refundable
8,492
1,366
Other Receivables
375
394
Dividend Receivable
25,000
-
Accrued Profit on Bank Dep
388
460
Curent Maturity of Long Term Dep.
291
-
42,034
8,366
Cash and Bank
9.
Cash in Hand
3,330
Cash at Bank - Current Accounts
25,024
Cash at Bank - Savings Accounts
16,521
44,875
10. Creditors, Accrued & Other Liabilities
Creditors
63,016
58,997
Customers Deposits
22,571
19,866
Accrued Exp.
22,448
17,534
Other Liabilities
1,826
2,712
109,861
99,109
11. Dividend Payable
Payable from Previous Year
200
164
Accrued During the Year
30,000
30,000
30,200
30,164
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12. Share Capital
Authorized Capital
10,000,000 (2000: 10,000,000)
ordinary shares of Rs. 10 each
100,000
100,000
Paid Up Capital
5,000,000 (2000: 5,000,000)
ordinary shares of Rs. 10 each
500,000
500,000
13. Obligation Under Lease Finance
Obligation. Under Lease Finance
15,282
10,585
Less: Current Maturity
6,643
3,425
8,639
7,160
14. Sales
Gross Sale - Domestic
751,244
Gross Sale - Export
93,305
Less: Sales Tax
106,158
738,391
15. Cost of Sales
Raw Material - Opening Stock
13,264
Raw Material - Purchases
291,569
Less : Raw Material - Closing Stock
27,545
Raw Material Consumed
277,288
Packing Material - Opening Stock
42,189
Packing Materila - Purchases
190,295
Less: Packing Material - Closing Stock
74,731
Packing Material consumed
157,753
Overheads
Wages
23,155
Stores Consumed
7,922
Traveling and Conv.
158
Repairs and Maint.
10,267
Insurance
345
Fuel and Power
23,339
Bottle Breakage
6,552
Excise Duty
49,671
Misc. Expenses
7,412
Depreciation
3.1
1,602
130,423
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Cost of Production
565,464
Finished Goods - Opening Stock
85,296
Less: Finished Goods - Closing
Stock
78,550
Cost of Goods Sold
572,210
16. Other Income
Profit on Bank Deposits
974
Dividends Income
25,100
Foreign Exchange Gain
5,732
Gain on Disposal of F. Assts.
692
Sale of Scrap
1,470
33,968
17. Administrative Expenses
Salaries and Wages
36,117
Postage and Telegram
1,652
Traveling and Conveyance
1,075
Repairs and Maint.
1,272
Insurance
1,179
Printing and Stationery
1,121
Rent, Rates and Taxes
1,155
Auditors' Remuneration
161
Legal and Professional
768
Donations
81
General Expenses
400
Depreciation
3.1
2,387
Provision for Doubtful Debts
987
Provision for Diminution in Value of
Investment
625
48,980
18. Selling and Distribution Expenses
Salaries and Wages
23,227
Postage and Telegram
1,578
Traveling and Conveyance
2,616
Repairs and Maint.
6,168
Vehicle Running
859
Printing and Stationery
497
Rent, Rates and Taxes
1,954
Advertising
19,254
Outward Freight
9,628
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Sales Staff Incentives
1,642
Petrol, Oil etc.
8,561
Misc. Expenses
1,392
Depreciation
3.1
1,988
79,364
19. Financial Charges
Markup on Loans
282
Finance Lease Charges
1,750
Bank Charges
825
2,857
FINANCIAL ANALYSIS
The management of the business has to analyze several things to work out performance of the
business. These analyses help the management in decision making. The management works out
the performance of the business by calculating some ratios. Following are some of the important
ratios, a management may calculate to get first hand knowledge about business's performance:
Profitability Ratios
Profitability ratios contain the following ratios:
Gross Profit Ratio
Net Profit Ratio
Gross Profit Ratio
The Gross Profit ratio tells the management of the company about profitability of the
company. It helps the management of the company to know about cost of production
of the company. When management compares it with previous year's ratios, it came to know,
how well the business has performed and how to improve its efficiency further. Gross Profit
ratio also gives information about sales. It tells the management whether sales has increased or
decreased. The management takes appropriate steps accordingly. The formula for calculating
this ratio is as follows:
Gross Profit Ratio = (Gross Profit / Sales) x 100
Net profit ratio
The benefit of net profit ratio is same as that of gross profit ratio. It helps the management to
know about net profit. If gross profit ratio is greater as compared to last year and net profit ratio
is lesser, it means that administrative and selling expenses of the company have increased. The
management takes appropriate steps to control the expenses. The formula for this ratio is as
follows:
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Net Profit Ratio = (Net Profit / Sales) x 100
Stock Turnover Ratio
This ratio tells us about sale of stock. It can be calculated in days as well as in number of times.
It tells us how many times in a year or in a month, the stock is sold or in how many days, the
stock is sold. If it is calculated in days and the result is higher than that of previous years. This
means that the stock takes more days to be sold. That means demand of the product of the
company is decreasing and vice versa. The formula for the number of days is as follows:
Stock Turnover in days = (Average Stock / Cost of goods sold) x 365
Average stock is calculated as follows: (Opening Stock + Closing Stock) / 2
This opening and closing stock may be for a year or for a month depending upon the policy for
calculating this ratio.
If this ratio is calculated for number of times, it means that how many times in a given period (
whether a year or a month) the stock is sold. The formula for calculating this ratio is as follows:
Stock Turnover (Number of times) = (Cost of goods sold / Average stock)
Debtors Turnover Ratio
This ratio is used to get first hand knowledge about payment received from debtors. It is evident
that a company without receiving cash from its customers cannot meet its expenses. If debtors
do not pay on time, how would a company pay its liabilities. Consequently its reputation will go
down and nobody will place his trust on that company. This ratio helps management to identify
debtors who do not pay on time and to pursue them to pay. This ratio is also calculated for
number of days and number of times. The formulae for this ratio are as follows:
Debtor Turnover ( Number of days) = (Average Debtors / Credit Sales) x 365
Debtor Turnover ( Number of times) = Credit Sales / Average Debtors
Creditors Turnover Ratio
Creditors turnover means how many times or in how many days a company pay to its creditors.
As mentioned above, if a company does not collect its payment on time, how would it be able to
pay its creditors on time. If it does not pay its debtors on time, this situation will make bad
impression on its reputation. Like debtors turnover, creditors turnover is also calculated for
number of days and number of times. The formulae for this ratio are as follows:
Creditor Turnover ( Number of days) = (Average Creditors / Credit Purchases) x 365
Creditor Turnover ( Number of times) = Credit Purchases / Average Creditors
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Return on Capital Employed Ratio (ROCE)
This ratio is calculated for the share holders of the company. As share holders are concerned
with profit paid by companies to its share holders. This ratio gives us the proportion of net profit
before tax to average capital employed by the company. The return rate of profit given to its
members should be higher than current market rate. If return rate is less than current market rate
than the share holders will invest their money in the market instead of investing in the company.
The formula for calculating this ratio is as follows:
Return on Capital Employed Ratio (ROCE) = Net profit after tax before appropriation /
Average Capital Employed
Earning per share ratio
Earning per share ratio indicates the proportion of net profit, a company is getting per share.
Share holders are always interested to know the proportionate rate, a company is getting per
share. As price is numerator and earning in denominator, therefore lower value means better
return.
The formula for calculating this ratio is as follows:
Earning per share ratio = Net profit after tax before appropriation / Number of shares
Price Earning Ratio
This ratio is calculated for those share which have market value. This ratio compares earning
per share with market value of that share. The formula for calculating this ratio is as follows:
Price Earning Ratio = Market value per share / Earning per share
Debt Equity Ratio
This ratio shows the composition of finance that have funded the asset of the company. This
ratio varies for different projects. In Pakistan, maximum advised ratio is 60: 40. i-e. 40% of the
assets should be bought with company, s investment and 60% should be bought with the loan
taken by the company. This standard is acceptable in Pakistan. If a company's liquidity ratio is
more than the above mentioned standard, that means condition of the company is not very good.
If it has to pat its liabilities, its assets would not support it to pay its liabilities. The formula for
calculating this ratio is as follows:
Debt Equity Ratio = Long term Liabilities / Equity
Current Ratio
Current ratio shows the proportion of current assets and current liabilities. This ratio should be
1:1. i-e. For every liability of one rupee, there should be an asset of one rupee to pay it. The
formula for calculating this ratio is as follows:
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Financial Accounting (Mgt-101)
VU
Current Ratio = Current Assets / Current Liabilities
Acid Test Ratio
Acid test ratio is the proportion of current assets which are convertible into cash and current
liabilities. The formula for calculating this ratio is as follows:
Acid Test Ratio = (Current Assets ­ Stock) / Current Liabilities
Mark up Cover Ratio
This ratio shows the proportion of operating profit (Operating Profit before financial charges)
and financial charges. This ratio is useful for bankers. If a company has taken loan and its
financial charges are so large that all or a big part of profit is absorbed by financial charges, then
how would a company repay its loans. The formula for calculating this ratio is as follows:
Mark up Cover Ratio = Operating Profit before financial charges / Financial charges
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Table of Contents:
  1. Introduction to Financial Accounting
  2. Basic Concepts of Business: capital, profit, budget
  3. Cash Accounting and Accrual Accounting
  4. Business entity, Single and double entry book-keeping, Debit and Credit
  5. Rules of Debit and Credit for Assets, Liabilities, Income and Expenses
  6. flow of transactions, books of accounts, General Ledger balance
  7. Cash book and bank book, Accounting Period, Trial Balance and its limitations
  8. Profit & Loss account from trial balance, Receipt & Payment, Income & Expenditure and Profit & Loss account
  9. Assets and Liabilities, Balance Sheet from trial balance
  10. Sample Transactions of a Company
  11. Sample Accounts of a Company
  12. THE ACCOUNTING EQUATION
  13. types of vouchers, Carrying forward the balance of an account
  14. ILLUSTRATIONS: Ccarrying Forward of Balances
  15. Opening Stock, Closing Stock
  16. COST OF GOODS SOLD STATEMENT
  17. DEPRECIATION
  18. GROUPINGS OF FIXED ASSETS
  19. CAPITAL WORK IN PROGRESS 1
  20. CAPITAL WORK IN PROGRESS 2
  21. REVALUATION OF FIXED ASSETS
  22. Banking transactions, Bank reconciliation statements
  23. RECAP
  24. Accounting Examples with Solutions
  25. RECORDING OF PROVISION FOR BAD DEBTS
  26. SUBSIDIARY BOOKS
  27. A PERSON IS BOTH DEBTOR AND CREDITOR
  28. RECTIFICATION OF ERROR
  29. STANDARD FORMAT OF PROFIT & LOSS ACCOUNT
  30. STANDARD FORMAT OF BALANCE SHEET
  31. DIFFERENT BUSINESS ENTITIES: Commercial, Non-commercial organizations
  32. SOLE PROPRIETORSHIP
  33. Financial Statements Of Manufacturing Concern
  34. Financial Statements of Partnership firms
  35. INTEREST ON CAPITAL AND DRAWINGS
  36. DISADVANTAGES OF A PARTNERSHIP FIRM
  37. SHARE CAPITAL
  38. STATEMENT OF CHANGES IN EQUITY
  39. Financial Statements of Limited Companies
  40. Financial Statements of Limited Companies
  41. CASH FLOW STATEMENT 1
  42. CASH FLOW STATEMENT 2
  43. FINANCIAL STATEMENTS OF LISTED, QUOTED COMPANIES
  44. FINANCIAL STATEMENTS OF LISTED COMPANIES
  45. FINANCIAL STATEMENTS OF LISTED COMPANIES