Original post by Imdoomed
Hello, i'm abit confused on the layout for ACCN2 income statement, could someone please help me with it?
Also, can past accounting students give me tips for exams, Thank you
.
Also, can past accounting students give me tips for exams, Thank you
.http://filestore.aqa.org.uk/subjects/AQA-2120-W-TRB-OGLF.PDF
Try checking that document, it's similar to the ACCN1 layout But after gross profit you'll minus expenses and then you'll get operating profit from which you'll minus finance charges (includes interest on loans and preference share dividends) and then you'll get profit before taxation, less tax and then you'll get profit after taxation. So isn't much difference tbh just need to add in all that
Original post by Imdoomed
Hello, i'm abit confused on the layout for ACCN2 income statement, could someone please help me with it?
Also, can past accounting students give me tips for exams, Thank you.
Also, can past accounting students give me tips for exams, Thank you
.if they ask for a sole trader in unit 2 it's the same as unit 1 but with more difficult adjustments like reducing balance depreciation and accrued/prepaid income
if they ask for a limited company it's the same down to profit for the year which is called operating proft/profit from operations
then you minus finance costs (like interest) to give you profit before tax and then you minus tax which gives you net profit/profit after tax
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