Hi

This course enable to understand how to prepare financial statements of sole proprietor. It includes preparation of Manufacturing account (in case of manufacturing concern), Trading account , Profit and Loss account and Balance sheet.

Pre recorded video lectures includes explanation of Concept, Preparation of Final accounts and solved examples. This course is divided into 4 sections :

Section 1 : Final Accounts of Sole Proprietor (Basics)

This section includes following concepts :

• Meaning of Final accounts

• Meaning of Trading Account and its Components

• Meaning of Profit and Loss account and its components

• Meaning of Balance sheet and its components ?

Section 2 : Adjustments related to Final accounts

This section includes explanation of following adjustments :

• Adjustments related to Trading account

• Treatment of Outstanding Expenses and Prepaid Expenses

• Treatment of Outstanding Income and Income received in advance

• Treatment of Bad debts and Provision for Bad debts

• Treatment of Discount allowed and Provision for discount

• Treatment of Depreciation and Provision for Depreciation

• Interest on Capital and Interest on Drawings

• Commission on Net profit Before Commission / Commission on Net Profit after Commission

• Treatment of Income tax

Section 3 : Solved Examples related to Final accounts

This section includes the following :

• Final Accounts Simple Example without Adjustments

• Final Accounts Comprehensive example (With adjustments )

Section 4 : Final accounts of Manufacturing Concern

This section includes the following :

• Meaning of Manufacturing account and the components of manufacturing account

• Example on Preparing Final Accounts of Sole Proprietor of Manufacturing concern

Happy Learning

Vanijyavidya