Topic 9 final accounts
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The lecture by Srinivas M outlines the accounting cycle, detailing the preparation of final accounts, including trading and profit and loss accounts, and balance sheets. It explains key concepts such as gross profit, cost of goods sold, and various direct and indirect expenses. Additionally, the document includes examples for preparing accounts that illustrate how to compute gross and net profit for different cases.
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![Prepare a trading account of Mr.Devan for the year
ended 31st March 2015.
Opening stock 5,700
Purchases 1,58,000
Purchases returns 900
Sales 2,62,000
Sales returns 600
Closing stock was valued at Rs.8,600.
[Answer : Gross profit Rs. 1,07,200]
7](https://image.slidesharecdn.com/topic9finalaccounts-161227051430/85/Topic-9-final-accounts-7-320.jpg)
![Prepare profit and loss account of Mrs. Nandini for
the year ended 31st Dec. 2001 from the following.
Gross profit 1,25,000 Discount paid 600
Salaries 15,000 Discount received 1,000
Rent 5,000 Interest paid 500
Carriage outwards 1,000 Interest received 700
Selling expenses 500 Commission earned 2,000
Income from investment 1,500
[Answer : Net profit Rs.1,07,600]
12](https://image.slidesharecdn.com/topic9finalaccounts-161227051430/85/Topic-9-final-accounts-12-320.jpg)
![The following balances are taken from the books of M/s.
RGV Ltd. Prepare profit and loss account for the year
ended 31st March 2012.
Gross profit 5,25,000 Salaries & wages 1,00,000
Rent 10,000 Depreciation 5,000
Interest on loan 5,000 Office expenses 1,500
Distribution charges 2,500 Salesman salary 8,000
Bad debts 2,200 Stationery and printing 500
Commission received 3,000 Discount received 2,000
Interest received 5,000 Advertising 9,000
Taxes and insurance 2,000
[Answer : Net profit Rs. 3,89,300]
13](https://image.slidesharecdn.com/topic9finalaccounts-161227051430/85/Topic-9-final-accounts-13-320.jpg)
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购买日韩成绩单、英国大学成绩单、美国大学成绩单、澳洲大学成绩单、加拿大大学成绩单（q微1954292140）新加坡大学成绩单、新西兰大学成绩单、爱尔兰成绩单、西班牙成绩单、德国成绩单。成绩单的意义主要体现在证明学习能力、评估学术背景、展示综合素质、提高录取率，以及是作为留信认证申请材料的一部分。
威斯康星大学密尔沃基分校成绩单能够体现您的的学习能力，包括威斯康星大学密尔沃基分校课程成绩、专业能力、研究能力。（q微1954292140）具体来说，成绩报告单通常包含学生的学习技能与习惯、各科成绩以及老师评语等部分，因此，成绩单不仅是学生学术能力的证明，也是评估学生是否适合某个教育项目的重要依据！
我们承诺采用的是学校原版纸张（原版纸质、底色、纹路）我们工厂拥有全套进口原装设备，特殊工艺都是采用不同机器制作，仿真度基本可以达到100%，所有成品以及工艺效果都可提前给客户展示，不满意可以根据客户要求进行调整，直到满意为止！
【主营项目】
一、工作未确定，回国需先给父母、亲戚朋友看下文凭的情况，办理毕业证|办理文凭: 买大学毕业证|买大学文凭【q薇1954292140】威斯康星大学密尔沃基分校学位证明书如何办理申请？
二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理美国成绩单威斯康星大学密尔沃基分校毕业证【q薇1954292140】国外大学毕业证, 文凭办理, 国外文凭办理, 留信网认证
C.H. BHABHA MEMORIAL ENDOWMENT PUBLIC MEETING ON ANALYSIS OF UNION BUDGET 202...
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How Zenko Properties Streamlined Financial Operations and Scaled Efficiently ...
How Zenko Properties Streamlined Financial Operations and Scaled Efficiently ...Ratiobox Limited Zenko Properties, a dynamic and fast-growing real estate agency based in the UK, faced mounting operational challenges as its portfolio and client base expanded. Managing financial workflows across multiple property types, client accounts, and compliance requirements had become increasingly complex. Manual bookkeeping, fragmented systems, and limited in-house financial oversight were slowing down growth and exposing the company to potential compliance risks.
Recognising the need for a scalable, technology-driven solution, Zenko Properties partnered with Ratiobox to transform its financial operations. This case study explores how Ratiobox enabled Zenko to achieve greater operational efficiency, compliance assurance, and real-time financial clarity — all without the burden of maintaining a full in-house finance team.
Through a tailored combination of outsourced accounting services, automated bookkeeping, and integrated reporting tools, Ratiobox provided Zenko Properties with an end-to-end financial management solution. Our team began by conducting a deep-dive assessment of Zenko’s legacy accounting practices, identifying critical inefficiencies and opportunities for automation. We then implemented a streamlined accounting framework using cloud-based platforms such as Xero, integrated with Zenko’s CRM and property management systems.
Key improvements included:
Automated transaction processing, eliminating manual errors and reducing month-end closing time by over 50%.
Real-time financial dashboards, giving directors clear visibility into cash flow, revenue streams, and liabilities.
Fully managed payroll and HMRC submissions, ensuring Zenko stayed compliant and up to date with the latest tax regulations.
Scalable support for property acquisitions, enabling the finance function to grow in lockstep with Zenko’s portfolio.
Beyond day-to-day accounting, Ratiobox also delivered strategic insights through periodic reporting and advisory input, helping Zenko's leadership make data-backed decisions on expansion, cost control, and investment timing.
As a result, Zenko Properties not only improved operational efficiency but also gained a future-proof financial infrastructure that supports long-term growth. With fewer internal resources tied up in routine tasks, the team was free to focus on delivering exceptional service to clients and exploring new market opportunities.
Panel 2 - Panel discussion - Demystifying key critical & practical issues und...
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HUMAN BEHAVIOR cultural intelligence and global leadeership.pptx
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Family Governance Presentation by Dinesh Kanabar
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Topic 9 final accounts
- 1. Lecture by Srinivas M. 1
- 2. Objectives Learner will be able to prepare final statement of a business - Profit and loss account and Balance Sheet 2
- 3. The process of Accounting Cycle ends with the preparation of Final Accounts . So Let us begin various steps to compile final accounts Accounting Cycle : • Journal • Ledger • Trial Balance • Final Accounts 3
- 4. Final Statements of Sole Proprietor comprise of preparing the following statements • Trading and Profit and loss account • Balance Sheet Before we move further, let me elaborate on some of the new terms and their meaning Gross Profit = Net Sales – Cost of goods sold Cost of goods sold= Opening Stock+ net purchases + Direct Expenses – Closing Stock Direct Expenses: These are incurred on purchase and production of Expenses Like , Carriage, freight, Octroi, Wages, facrtory rent, Royalty 4
- 5. To Opening Stock To Purchases Less Purchase return TO Direct expenses To Gross Profit Rs .. .. .. ? By Sales .. Less Sales return … By Closing Stock Rs. .. .. 5
- 7. Prepare a trading account of Mr.Devan for the year ended 31st March 2015. Opening stock 5,700 Purchases 1,58,000 Purchases returns 900 Sales 2,62,000 Sales returns 600 Closing stock was valued at Rs.8,600. [Answer : Gross profit Rs. 1,07,200] 7
- 8. The following are some of the balances extracted from the ledger of Mr. Sundaram as on 31st December 2015. Prepare a trading account. Particulars Debit Rs. CreditRs. Stock 1.1.2015 12,500 Purchases 1,00,000 Sales 1,50,000 Returns outwards 5,000 Returns inwards 10,000 Salaries 4,400 Wages 7,500 Rent 2,750 Carriage inwards 2,500 Carriage outwards 750 Power, coal, gas 1,000 Stock on 31.12.2015 was valued at Rs.14,000. (Answer : Gross profit Rs. 35,500) 8
- 9. Now Let us move further to the second part of the income statement; i.e Profit and loss Account To Indirect Expenses and losses Office and Administration Expense Selling and Distribution Expenses Financial Expenses Depreciation and Repairs Any other loss etc. To Net Profit Rs .. .. .. ? By Gross Profit By Income Discount Received Commission received Interest Received etc. Rs. .. .. 9
- 10. Salaries, Rent, stationery, Telephone Charges, legal expense , postage etc : Advertisement, Carriage outwards, Commission, showroom rent, etc Bank charges, interest on loan and on capital Bad Debts, loss of goods by fire etc. 10
- 12. Prepare profit and loss account of Mrs. Nandini for the year ended 31st Dec. 2001 from the following. Gross profit 1,25,000 Discount paid 600 Salaries 15,000 Discount received 1,000 Rent 5,000 Interest paid 500 Carriage outwards 1,000 Interest received 700 Selling expenses 500 Commission earned 2,000 Income from investment 1,500 [Answer : Net profit Rs.1,07,600] 12
- 13. The following balances are taken from the books of M/s. RGV Ltd. Prepare profit and loss account for the year ended 31st March 2012. Gross profit 5,25,000 Salaries & wages 1,00,000 Rent 10,000 Depreciation 5,000 Interest on loan 5,000 Office expenses 1,500 Distribution charges 2,500 Salesman salary 8,000 Bad debts 2,200 Stationery and printing 500 Commission received 3,000 Discount received 2,000 Interest received 5,000 Advertising 9,000 Taxes and insurance 2,000 [Answer : Net profit Rs. 3,89,300] 13
- 14. 14 Balance sheet is a statement prepared to know the financial position of the business at the end of the year ( that is balances of Assets and Liabilities) Balance Sheet
- 15. 15 Fixed Assets are long term assets which are not for sale in the ordinary course business. Current Assets are short term assets, which keep changing from one form to another within a short period of 12 months
- 42. Have a wonderful day!!! 42
Editor's Notes
- #4: Procedures Ask the students what the meaning of Accounting cycle. Divide the class into groups, and have each group meet to brainstorm a list of items which can be incorporated in the final statements. Think of closing entries. Next, have students do research to find closing entries necessary to compile final statements. Handouts on the format of Trading and Profit and loss account and Balance sheet to be shared. Invite students to compare in the intergroup outcome of their research.