= i Tay eon Cia 7 ¥ = x = Tawi (es) onion to I ress Die Baleceo 3 [or oc ¥ Ea Rs Proft and Losedppropration A/C eg on aa 3 s Ret Prof tenon Carn CHT ¥ Cas aston CREATE [Teassamriee x a TaCurrent A/C of PARTNERS Detail Details xT ¥ Balance bide Balance Wa com Drawing Tnterest on Capital || #* Totes in Drawings [Salaries wef oe [transfer to Capital ‘Share of profits we | are ‘Shae oflosses ‘BonusiComnission | _***_| 7° ‘Solaris (ij wuhakaon) “interest on Loan wae oe Balance cfd Balance od* ae Balance BaF Balance WE we [ee brat ie and Leder Acnuns or Analgamation of Paresh Fis: Inthe amalgrnation af ptsthip irs cloing ents and opening eis rf Be passed, The closing sis be pase oe he ook of cco fanaganatng ol fems anh peng ens et =a a pent kf tof alee we fig) Jou tes nthe Boss of 1 Fis (Cong ag 1 ForReaatio of Asa nd ites Ags Lites of hol ens ty be rr a fe time of analgation, Th ay be nrease or Se inthe values of aes an Tiles which shows oft or bs. Toe his prot or lot «Bef Loss Adjustment Ale or Reauaton Ae so be ope Tertaneresntn at Rd aC tn al pet tg For his pone following jor nie ot passed 5) For inrease inthe value of ss and desea in the vale of Lisbilty, which shows revaluation profi Parca Asset Lily A. Dr “To Profit & Lose Adjustment Al /Revaation A 1) Fo decrense in the val fasta incense in the value of ibility which shows evaluation los Profi & Lass Adjstent Ale Revaation AVC. De Particular Asset / Liability Aei) For Ceaton of Goodwl: IF theres no god account i the books ofthe old fm and Hf i i to be rated te fllowing entry wl be pase, Goodwill Ne Dr ‘ToPanners Capital Ae (Goods to be easton the old prof shaving ati) lip For closing Resres and Profit Accounts: The bance on these accounts isto be transfered to Parnas Capi Ae inte of prot string eat Reset Men De Profit & Lass A (Ct Bal) ononsDi “To Pres Capital Ae iv For losing Loss Aesoan: Te Pr & Loss Ae showing Dx. balance sa os econ I appears on these side ofthe Wslaceshet, The lance his account als transfer to Parnes Capital AZ in he ‘ol roi staring ati Pata Capital Ales DE 8 To Profi & Lass Ne & \) For ch Ass nibs hae a ne by Ne ie he at a a ee i by ef by Bo taal tr asap ge i aT po rn eh ano ramsey Fide Aga fers Cy ease ol pi a a orth Pas nga ee ek 2) Hamas is sod evay for eas (ash Bak Ae Dr Ta Patil Ast Ae ) awassti then over bythe pater /paters Partaess Capital A br “To Patiala Asset Ne ‘o) Ia lability is paid offsi) For losing Assets and Liabilities which ae taken ove bythe New Fim ; The accouns of assets and ibis whic ate taken over by the ne fn wil be closed by transferring them tothe New Firm Ale at ged values 1) Forclosng Ass Now Pitt) AMG ‘ToAssets Ak 1) Forslosiag Listes Lihiltes Aleem De ‘Tow Firm Ale si) Por cotng Partners Capital Ale: Parnes Capital Ale of theo fim are tobe closed withthe net ley sri em te New Fm A Sy & ‘Ledger Accounts if the Books ofthe Old Fics: & tanh aoe jae swing npr HSE me bpp so a > ee an * nei) For Adjust of Capital: I the capt of the partes inthe nw Firm are chnged as por the new ‘of sharing rato o asp the green, hee is nee ops journal entries forthe adjustment of capa “The adjusts of capital may be dein ash cough current Nes 1) Forcass brought in or trough arent Ae for adjustment of shortage of apa (Cath Batk A. onnnntnn Panel Partner Cate AME DE to Particle Parner Capital Ale 1) For cath pido ugh erent ale Fr astment of exces capital Paula Pater Capita An Bs ‘ToCoah/ Bok Ae 1 To Paul Parner Curent AV Renton NES) Dei 5 QO pa 5 “To deren vale of cls By nea invalee Fase (as S| roi “To ete a value of RBIS —_|®S™"* | By dress Te va oF + (os Libis (Pot “To uted TOTES a 75 [By uneorded AS an] greed value) S agreed value) __ Profit onsen ol aie” Los stereo od paris Cepia or Caer sent nod Capito Comet asain Gi ro) Parner A000 ola) Pater A~ 6000 Parner B= 4000 oe Parner 4000 | ee Goodwill A/CCAPITAL A/C of PARTNERS x] Details Details x [— ~ Bales bi ae Reiaton Remon a Goosvil see [496 Realistion ae Bid Bank we [| ocd wae Cuneat A7 tlanoe OR Blas) | A nk ee ‘Adjusied Aas we ane a ‘Curent NC balance (CRC balanse)_| > Talos bit ve — Realisation A/C ____ Dewi TS ___ Dei 3 | | Tiecaningamaunt ofteaics "| *°°| The posses fom he aesof | FF E emecs shown opposite | ‘Coase aston 557 [Othe incomes or beet a Disonnis alowed Discount ecived ae Profit on dissolution Loss og solution Lo. & e Example-Reafisation A/C Deiat <= Detail 5 Te invenary NC Sato | ak AC Css T6000 | reais) Ss | Inveton = 10000 PY Freres “mn Pariure 9000 - Plant = 0000 | “TovTadeesivables AC 200001 By Trade paybles Arc | 76000 To Fanitwe AC - 00 By Loan tom sam AS | 20000 TOP C $00 [By Ricky's Cpl AVC 16000 divesimens) Hoa APC ade paates) | ~7AT00 By Bad Debt Rese AE | 3000 oan fom imam AIC 200 “To Risky’s Copal AC 20000 | By Copal AIG Aavesimens) (Coss) Ricky 45) ~ 7380 Ricky (3/5) 7380 |STATEMENT OF FINANCIAL POSITION Details 3 8 8 Non-Guns, Premises i Fires a ting ote ‘Caen Aves Inventory ae ‘Ascounts Receivable a os a Expense Pepaid I “Total Asses Capita 7 Capial: —X ah s a a eo Cnt as Bale (Credit Balance) ee [¥ (Cedi Batance. se got sal ese thre is debit balance. ‘Now. Clurent Liabilies coat WE aaa LB ‘Aswounts Payable — baad Bank oveara Expense Owings “Total Capita and Linbilies __‘STATEMENT OF FINANCIAL POSITION Including CURRENT A/C Data Gost | Aes enseition | et Book Vai | 3 5 $ [NoncConent Asis: ~ Premises ar - a ures and iting te 7 = real Aa Inventor a “Accounts Recehable aa Bank _ Expose Prepaid we ‘Tata Assets ae 1 — — - — Capital: - ¥ oo Cent AUCs Balan x ¥ ‘Balance bd (Cre Balas) ae ae ‘Ad. lutrest on Capt are a ‘Adi. Salaries i we Adi Share of roi ee a olanos 03 (Deb Blane) ey ~ (Less) Drawings (cn Les) ies on Dawg | 8) ce) Balance of Ts =e ‘Now-Cuent Lbi ean a ‘Caen Labi — ‘Accounts Payable = a Ben overdal a =] a ‘Fual Capital and Labi ~MUTED COMPANY. ‘Trading & Profit & Loss Appropriation A/C Dette 5 3 les Revenue Trier aa ts) Rernonars it soes = esd Opening enory Taam ea el ‘OSS PORT Sad ‘il Dioula Cnn Reaave hd rar espoe ent ate a Geral ees Soler apse rh ishing sting a Decors renner a Depecitlnofadminisation compu ea Sli nd Okun aperset aac Outwars Sales rope aris Garmin onic rotten Operon esd nc hae Date etre FROHT befor ts (es pean FRONT re ete To egy haers us se reefer to Gonsalene rae fovean Exchange asa [esi Pamredbindons hoped Peterenco DiceSTATEMENT OF FINANCIAL POSITION se tat eae _ — $ $ s ToGiiai ear we _ we War i : a ise e ti ‘cma iy et Ese Ines Reshbl oe - -| (Lesliliwene br Danae ———_ [7 a He ae = i ‘Income in arrear_ | ae ‘Prepaid expenses << ee TOTAL ASSET me | awity and Cebit: ~ _ ay Siw se Peto Shag Ol ie Stee poe Goal Rene ee feed tl — Be f ‘Nea LS 7 ere = | ‘Curent Liabiives, - ~ - _ = esata se Debate bleeds Epis OW - =e poe ess =STATEMENT OF CHANGES IN EQUITY ‘Share Copied | General Reene ‘Opening balance ofthe year | >> ae Tse of Stare Capital 5 ss > > (Mile of te yea) Treo geaTo vir ep pe [Divina : i; Ff rt ar : : oF ang ae a yar— [EF = = yy w ‘Revaisdon | Genera] Retained] Toad Reserve | Reserve | Earnings | guy an | F000 | ~ F000 |~F000 Tooo |” 780] 1876 | ~ 6626 ans oT Shwe ue ea] T1000} — 1500 2500 theres) Teale 150 130) [te grea so) SHPO Died a G35) Cas) rai te yar 638.16] G38.16 ance teu ofthe | —ag00} Bua] LS | OO] 9.16 | Sras.6 yearcost ING AND INVI VALUATION “The wo wae of cot, marina an bearpton invetry lbe aud awe diferent ays also padi totaly diferent pots a he losing EXAMPLE ‘Reonpany produces a single produc, Tho sls rte ls noth ae follows: jan pote a0 sey ol 360 Seng price pir wal Stoo Vars oe per ni sa Fol ovevhesds fhe pv S00 i Caleaation of rota each method of ventory vatato Ls Cosng Cot ofsale Grass prot |The eso fr this ings pra spy de ote wy in which fae vee ae treed. In ror cst ty ae eed per cats ad write ff Tal inde oat. No part af hem is Ftd inte ean Imentry ge. Unc is met he sing inv aed a 360 pe ito AGven vale ft 4800" $2400 Flowers th orton contng sae ofthe oereads ate ica inthe esr invention Under this Into ul prtucto ut of $2500 ae vided by the teal proton of 400 ais se al inventory ‘pri 5p uit The ls Ivenoy fs href, ved at 02 85°82,BUDGET AND BUDGETARY CONTROL Master budget ‘Amster bulge te tom used to deseribe budgeted profit nos crown and a budeted balance shee Alhugh its a bog and sno actually happened itl dawn up using te same pings ‘sn profit and foss scout ans blce set tat re based on acta dt. The dita Used t-constust the cash budget ca ao be ased to produce the master budge, this ean case confsion - switching fom ‘ne tlnique he her amp 1M Oibb balance set at 31 Deore 2007 Abin nforwin 1 Seem ues eal ce with oe on eet Binge yuan by cursus, 2 Bxgctl es nd prin ae salons‘ample L- Answer Mit ea budget or six months ended 30 Jane 2007 a Notes tthe xs uc: “The opening talance of esha the nt of Janay is taken from the bance shots cash at bank Fre “The closing balance wilthen appear onthe bodgeted balance sheet ws 30 June. “The reps fom dst for Inuny wil be December ales This dat is taken rm the Balance shet sat Dace under the dire “The payments to cers for fray il be found under the eer figure onthe bale sheet as si December “The slo and porchuses figures for June will not appear inthe cash badgt ab hey are not paid ‘easved uni uly - whi susie sath budget, However thy wil appear as debtors and exon: ‘tho balance shot 830 June. Depreciation snot aes oe and wil ot belong in any cash bud Drawings appenrs in ash budget but no in budgeted profit and loss account. “Te foocast eof accounts will appear as follows: Fee Eee ac anvnand maft and lose accourt for six months ended 30 June 2007‘The depreciation rvision ie based on he Following £20,000 x 10% = £2,000 x 6 montis = £1,000 5,000 x 10% = B00 x 4 mots = £200, "Total depreciation = £1,200, Mi forest balance sheet sa 30 June 2007ayo snes (®) te cot a -antg tate ohm pei = aie hay w=ame Conmrbene tato: ‘SR Ova Lil. opeeesytemof saad one Following inna’ weil “ei aa Raps) aia nated oo {8600 unis @ 52.50 per unity Diet Wage ‘2210000 Variable Bepensee 2000.00 ‘etl tpt or the pei an ete show pl, esd tics DD ht eka ons Suds nm siterip) sn omen oe Fat pce OY an Viens OO =n The standard wages per wat is based on 9600 hours for ove sol G@Rs 3.0 pera 40 hs me actly work Deena kt tel ee ee oe ea inne “tecnico Sete of ceranern ©) Niet is ee 2) Fact vein! tone Voce 4) Uderceeemnce 1 Piet Orel Cnty Yarace 2) Wa ie Vries 1 Fe Ovo oan Vira 1} UieticnyVainse Ta Cae Valance 2 a Vr, vow: Sacto 1. Given nae bl a hati sac bl 2 Loctofoutrcomptig snd hace ona wh 3500 hn is guste spate heb ope gun ng gil Ss, Sa ne a an(Gefen vt cli te Tie | 90011 10 Sen] 80 1L@ 10- TOE (Open rat“ 2. led ene (@alctat eine Ti) Berar)” | 94014320190: | mG 0 HON “amis ar sa cpm —|— aero} — pe | — oe 2 |22—¢\- 32 ci =e aes Se pans em Ee ET eee weltilome — | conan - mm | wanes nou | one 5 weap ong 969» x sooner gato arc: - ‘Sawaal Vane ~TSC 0A) biases ~ (82-4014 uta evades —(89-AOYSEJOHBHO- 4430 =s000.4 eine -Me =r tags A= tC Vin are 2100s +30 = 100 tactics ~(SR-AR AN, 2-229 600 oN} A ou e-amylase 00} = 190P voidetnevasnse G2) = ieee 40043 = nA es AV =U VHB NEDA HHI va SO AD-TAVO. = pO2- Toate pafoonnes ats of fre wage ad sly negations so mes performace satis for conta of employment ad job security Landes [> Tones prtooraoe ination t the secu of tht oan othe company [senfers |Quai charters _Axihow above aac sateen are rear fre vay of reson. IAS slo four quite ‘hrctrstin of rani tents thal ake tht stil 1 es “+ Undersandabiity te infrmsion i ead understandable by ses 1 Relate = ts norton inienst th economic declan owes 5 Raaty—theintenating fe ro terial enor and bis * Comparabitiy =the formation enable comparisons over Gne oie and evalu ends, The cevised IAS | (Sepenber 207 changed the tiles of Fal streets as hey wil be ust in rks tule see cae atemen of inane postin’ Seamestatenar Decne statement of comprehensive {ch ow satan toca Matement of esh Hoy, ‘Therese AS ts efitve fr annul prod eghning oper | anny 2008 aly adoption Peretti es tise awed Stee, Sr TPenke ee on aes eg a nw ro Me dnc ew nse gate rete wing! tke Mpa see < Procatin stanton SS! “This covers anumbor of eas, SI bckyround othe purpose of Thc staan, The component of eter nd tons of te presentation of he aco amet ad the sitet of fan paton pain. | arom ng atten epee roi ow inp 0 hem nd ais free) hese sn 50“hits i ped aman asa oes thin a essa, Wola a sent of sy inn gr em ‘Accounting pies he we di a: ss ne, as, omens ed pate apt yo ey sng sed song ec samen Accounting i sl yh dots hcl (belo) I cet ad apg pois, ‘etn ist 4+ Wlreon wn rly pen nan conan snd te at ply mst apy {Wt nang ey ree ge glance he ctr af he ey as te judge he mao at reat nd fle They us orto my ober ands Insist ardeting ber mit then oe hy mes masse tt ‘thc ptt ered ath of eset oh aston des een ex ‘it insta! sno eae, ‘A tye apt mm oes cosy fo sar smsaton, Chang in ses poles oot + de on oy dnt ANG «Taso tnat me tg nti nari anata freee sioageeeee + Asoing inno emt Rin ae ine ti thw bat a {iy dna anc ne, gong come, erally, pen nd cone + lcoig he =A fran ven hs et clo pig ‘hesoning ie nl atest, They mended ede bj yen nd nphing scabies Destin ith res ‘The snd ao ovis sss on he et anaemia td “stn fon lise acl Sloe or oe aero ses en aston cr moe fate isan at + ox ie we hae fa ate rose pid erat fr‘These arevens, ther verse or nfivorbi, th oor betwee theta of lane pean ht, the don wih he neal stent nuove for eu. Thay may ocr reel ‘infomation which becomes arable al he endo th yer and therfore tad fo be dslosed in {eoonuns. ‘Tekey ste postin inet which change foe ian senna be mae. One aia staterens ve been apgrovel fr isue by the bard of eects they exot be aed. Fr exanpe, {te scons ae prepare up 31 December. Thy are approve re bythe bot of decors ‘on 3 Api inthe folowing you. Between tee fa sates hanes resuing fom eves fee 31 Decomr canbe dal the account. ‘The sere distinguishes betwee wo types of eves: Adjusting even An ating nt eden a an vet ie the pring pei tht provi rer evidence of ‘ents tha esd athe end othe eportig geld, I suc a vet woud ray fet the Fnac stones, Be asc sistemas shold be hanged ete hse conltos, tg os in 7 +e tet fe a ta oti Oo at a i a tyes ifn ca Bee of traaepet Tone potion + icra tr ts te eee pon, he pe pes saleprie ofa non cue ast Lough sol atte th yearend + lnmentves whee he net elle vale fl el th ent ce 4 sets whe avalon shows tht imps equied * tedereetbles wha csr Fz inset 4 Steet a Qo etl rb et Non-ajusing events ‘vowing event died sa even ar the epoting pce tha nine of canon "tare afer th endo the reprting pro. No asst ime othe Hail seve or ‘sch evn Ivar they sredicared by way of ae othe nel state. Examples of nau even neue: 1+ major pcs oF sets + Tasso rutin cgay casey He, Noose ste aton by enployess + annancten ar enmenctneat of amor eesti of he bsiness + anges inesSpecie ese ‘Thaeate tre sittin in dion tothe above th rete consideration «+ isdens dete er pogo after the dt of he tment of fail pstn ate no longer recnnisadas aaity nth stereo sacl postion. They anon austin events tad are howto beshownin aot othe finial ements, + taf te dite ofthe senet of Frei pstn, the icons determine ht the tne inns oie roe trading and that theres no tenatve this ous of ton, ten he Feil trent cnn be propre on aging coacer ass 4 Flies rst clo the dale when the fam aameats were autaised forse a who {ve ft aura, IF anyone Had he pane © amend the fnancl sateen fer their “hoszton then hi i sls be ilo, amperes and non-ajusting evens ABCPLC has peared Sail ttre ote yearend 30 June 2014 Ding August 2014, tefreth fnl tements hve ben proved he iowing isis rise 1.Theconpany re infonet tnt csr has oon dca bankrup owing ABC PLC'E,000, Tho eld ae Jan 201 2th decors are od Un on er a preparing the oo atements ese in reverse Bing ‘drat y 3000 ict net compa spe ay204 QP ange vind at 5125000 ‘Whataoe soul dicts kin espet of ig rename tr ent nf i ipheugetiauraanaesiee netstat Phar comes ta salen aa eA cnn nett ‘febrero gr cee ence tea acesIniorstionatAcurng Standars + herecogtton ft assets he dtenraon fearing arouris the doprecoton nes any irpalont oes 9b eons rate oth, ‘The stan cosa arumter tke dno tana wih deen fm INS 38st of + Property, plant and eulpment = lange ase hl for ue ne poston asap of uote and sen, oreo are a for atatvepuponsn, mich ar pected eused forme ian oe scooting ptod. Sich assas are lacsfed es rr-curet ase ce satan ot rane poston Depreciation =e pte aleeaon ofthe copreclbl arau ebt ons ei vats) fatale nour see over seh it, sett ie he pt rr which a anateror-crent ase expec o be maa or ‘eo: ruber of rodicion ants expoced ob clined om tear oncurant Resid! ale ~the estate amour he ety expats ota for atangite vr-curent ssl hae of eae ator deducting he sara ent psa, ‘+ Far vaio the amour wich an asset cou be exchanged between owe, lig aries nana agin tanec, The fat vue of angi nonce ese rays pen mara val ‘= anyag amount = taunt teh tangible romcuvent asteroid he sllermerto ancl poste, afer deducing any soaied eprectn ot pointed ingairent oss + solimpatnunties ie the snout by when te eaayhg cunt en sae xed its *Racovrable amount - ha sont hich Nh of nase sr valet cot sel, Valu nuse—Is the presenta f ft cabh ons exec o be dered fen so Recognition of th tangible non-curent asset in the fnaneklslatenets ‘The standard sates tha an tem cpropery, lara eqimort sto be aconsed fe facia! iter he Ris probable that re comonic beets asoctes wen the ase wl ao he ety, and + ecoa oft atte canbe messured retoby,renaming Stods Ita costs sssociated wl Be tngihe acn-curent asst “The sland poise foling oan be neue ab part he nis cost othe angie non inert ne stro rel poston + ett pushae pe al dducing dicount rebates {Sloot de, ees recy frbasl bing te suelo preset ocafon and ‘ten «theca of propaton eee en anting eas nln an sey eat cototestng he ssl obese es (0g ache legal fs. “ne stad slo peo iano on ich nls mtb exe a par of cst inte later anal poston ey gol eves cons sai cose oa a busines or ketone business 1 ends of teagan producto soc (eg, averting) dlonal uot aesockted wih he gible non-cunent et “Testa ecco nadine purchase pre of th asst oer arcu wi Tobe spinon The sandard oes theo guest ati wh he este f sich ‘eee "apo cons of sev raping tease shoud be cargd as expense nthe ‘onan of pottor bss. «hare pat fhe a in an sora) equ rplactmen at equ es, these ‘hts cn be coed pt oft cng amcunf he ase sbjecto Be les of ‘set expan store, Whee th sel aque raglan nc fre ao cote oprsing, the {Sisal wen nepeators cn ona be cogniedin he cary amour pain sje fe hiv tection above. ‘lation of angie nr-curent ase “Avery tap or of mod aroun oy frit vant ofeach ae of tangs nro assets: © Costmodel te ose caida conten accunusod doprecaton snd any accumula pment see «Revalntan mode the aati okie (car ot revived aout This ae ss seat ees any subsequent deprecation and inparmert ioeses, Ravan ae to beIrena Accounig Standards lost A decease eng a en tevin shouldbe rcoga an expsree othe edent ‘hati exonods ay suet reves reid ahs evaluation ras elatg oe same tangle soncientanet Depreciation Depreciation shad be aloes a aytomate basi ovr he agi nonce asset use ‘ie The dpredaon mathe hale he pala which ast hare eraoricbeetl 6 ‘wpe te coeur byte ily, ‘Te erected utile a esta vt oftha ang nonce esl shoul be revi at ‘ea at each tania year en, re a ciarnca rom povcus estates tis motte ‘ecgiod asa hange nan etna under AS 6 (Acoun pe, anges naccunthg strats ardor) ‘+ Dapreciaton mus cont bo ehaged even the avi of tanglterarcurent beat ‘iced cary aout + Daprcistn ned net be charged when he eid va i eater fen he eying amount Deprecated a an expense inthe saeent of rot nd bss, ‘an cong the ust ite atari or-curont eth flovng shoul considered expect usge othe angle nr-cuent tel capa or ue ‘pected pyscal wear aatacr lect canner necisconce lea ore ims nposed en tee cl the tngie nace asa. Land and wings spare atts. Lard has an nt wef, oa han inthe case of 2 ive quay, sl eed Si aren fe tater of fran poeton cost Bulings tae ute and whol haere be dered. ‘Alabina of deren ae: + seine dso ved dance *evlaton mode. ‘A dpresaion mats tats based on evorue thats gana by sn att ates he we tan asets at prop, Tho erty st chose a thd of depreciate he patent usege overt ses econ, Te mated shu be fevowedal est seach fnscisl yearend teres been sigan arg in he expat of te scare beets, the mano ald be ange oe te changed ation. Ths must be ‘ected a change inan etal der IAS 8 (o=untng polos, changes In acouring ‘stints ae err) Derecogntion “Thos cour when the tangible nce-ciavent aneat la sold or no fatter Shwe ecnevido henetis aremete! acount Sarda Dilosur inthe franca statements Fareach ast property, plant an eaubment he ances rt how + feb or tein tm canyng amount *edopeiton tio ses + fhe val th depreciation aes sid {the gross eatyng aroun th begin nd end ofthe ezeuntra prod {the soared depedatin and inpatmrt owes at the began and oe of ie scouring peed revlon meres 2 detsoae tions ding he tion para ig te pros depots rt prod “het eel tobe shoe as anorcite aes schedule an nde 3 naa tothe Hana storeIngman! Ascauning Standards ‘xamposchadule of non-crrent assets Schodueofnon-currentasela a a 24 Dcember 2020 landand Puntand lotr Tota Tulaingtmactinery veils 200 sooo Sa 00 ost ervauation 1 Jarary 200 ooo am 5017 evan 00 7 ar) Dios yas) 1991 Deconber 2620, a oe ‘Accuratedceprciain 944 January 2020 cy us 150 Revaluation eo : = (60) (Charo foro yor 36 Cn Disposals = 0) Ds) (N91 December 2020 as carrying amour (6.31 Decent 2020, soo ta 105188014S 36 Impairment of ses “hiss ks he suet a ety ase re ol aed ot ore han er rsoveable tint and define hoe he vere ou determined ‘Theres series fey et “+ npairment low — the scent by which the cayng amount of a asset exceeds recoverable am + Carrying amount ~ he aunts which the asa eecognised in the ster of Fnac plo ae delucg scented depresion and scunulced impale oss, + Recoverale amount the Higher a th set's fr ale er etl pec an sal in us. {Fae vale =the non fir which a ast could be exchanged, elit seed between “owe, willy tsa an ar’ eth easton. The sad provides ide: “Te tet erence of i ei binding le agement les spose cos, eet atv nc eden by buyers, Seles nd readable prices i eile ots thar pie es disposal costs, Wer the atv ra, the ely cane an extimate based onthe bs ffnmaon tlhe fhe ling le ess the posal ons = Gants of dpsed eons nly, fr example ea x eoval expenses. « Vonen as depron tt teetinae tne gle kde oa STATS ui i lg domed nO Ty ol ci nn nS @ ‘eatimated future cashflows from the asset CS" ~ ipentns ef pase rats, ej moe ig the Fite es ows = Git en ese ee ~ tet of cea niet flo se wing on at a ay bred ‘Aven! och pring tn iy seu es we he iy ein ha ‘ase oybeimpaed cay omoannay bbls than is eeveabe amu), Good ‘Should e eed or ngsionet uma. Indios timpement «&®) To pon tank « xen oe: a a dens {tative chngrinetroagy, makes, econo or avs {tases ofthe compat hgh tt cpitaiationRecognition ofa impairment as ‘+ An impsinent ses ecgrsed whenever the ecverbleaeuat is eow the crying amount ‘The impsrmen sss rcopil at ap expense Inthe incre samen anes I eles 1 @ reall at. Forrevaled ase, the inate loss reed a revaiaon decrease + Deprecton fo Taare peas mathe adjued, Disosre Inypuat loses ihr ecoquiet or evened should be elloed by els of se {anova npaiment ls materi he lowing mt be dino 1 he evets al dreumsanees iting the inpsment lst 1 the amout afte los or revel {dete te ndivida tnd the clas to which elas impiment ce eng or reese are mail in fl the fri ettementsas whole ‘sone them cles of sats feed 1 the min evo cists Inova ‘uma same na ston PPI ee ‘ests nd rave cs er Tae ec [RD a ra | i ee To Set a ra to ape 1s a S ee ea ea en ee ro Tansee a ‘jap S — i moa 1 sewwo | vc ont te Tim ; ‘eioo | sve rae mt hohe i1AS37: Provisions contingent abies an contingent aes ‘The objective ofthe stanford so make sre tha porpsateeeogntion ein and measurement {ie rape io poison ofinget slits ad contingent ses. Enough formation ms ‘ole! inthe veces tote fmcll steements 0 eable ser to understand theatre vin sedanour “The series oF key defo + Provisin—iblly of wating or rout {Clay preset ligt os a ult of past ven, whee setleent is expt oes in cat of esac aye) + Contingent ability x posible obligation depening on wheter soe ura fare event feces, or 8 pean blgtin, ut papas snot probable othe wou! cant be realy ‘meme + Contingent asset ~ possible asl tht aries fom past evens and whose existence wil be entire oly bythe oromence of oe oe wore tesa Fate evens not whelly within te anette en Recognition fa provision Rezopitoe oe prvision or tinge iii depends one probity of Habit suing, Arvin ms be andi a pone rset et 1 foe spent ane) fe s « Roammtenbertby atic 0 | acta gait cnt romana et, ea SS eluent ts oh RY 52K ni cigion wcongo ity) does at not 1 Where possi of payment is mats, ro acral or deere sre ‘Theamout cogs asa rvs shod hbeststimatea te deo the sate of neat Dralion he export rquled to sete he pes bia, Contingent nse "Tes sul ot be recognised in he sacl statements, a soul be soe wher on inflow of ‘Honan tes is probable ad he tout rater Whee then of econ eri blo reat te sod Ben recog sad no dior14835: ntangibleasets alg te ho a a el ny etd py bn ‘ethernet mat ane 1 thea Beni 1 Grey mitten rem bs mea ng nite ‘stag tet ise eg tg cuca es eame : ie ste tnd oy em ing ty Div" pome ac hr hse oven hn + Entsttemtentettmemt itmtnpers aoc Sti AS ert nn Siopintcnegenanttiem seo e eon inc ont tne i euch an dere + Reh nd alte elne e 1 Deemer epi em nag ny ere sh ed omc ay fe aly pent cto Thr tenia Compt feMeasurement subsequent 0 auisiton ‘Sina to age vor-caret ass, a ely must choose ee the eos no or the evaution ‘mee ech lao angie are. a Cont moat Arita cognition, intangible sts should be ened a cos Kes acselted awriation (Geren) and tpn lo, Revaluation wodet Inne nt ay be cared at revalued amount (bsed on fr ake) test any subseuent Soran sd impeiment owes ony Hf ir yl ct be detained by reference oan ete at In theese of ness, vel that such markets il xs Casson based on fal ie Intangible ase ae cls saving ether a nine Ho ite i Indetnce te hiss where ers forsale into he pro oer which the assets expected o erate rt ash atoms fr bent. A tng st win dele seul if shuld nt be sorted reste Thre ened in fe he a he mes ea Tanned tease ape est cet bietaan & For each clas of intangible ase, the fllow)nQtiould be disclosed: Pai metcens See GF rocgwn Sere tn te ‘+ recncliian of the ayn sat wie ging and eel ofthe eprting period {he bus for dng ta intngeasset as en indent ie “ein en exryigg amount of nvtaly stra lng ses.OFS ETHICS Pfeil shi ces da gor be boar ofp wo sins. icone Lis ae eso terre oer an hb poem bdr’ ope and inten ch are. ic as ae te fone pn ot aecounng pons cose to abide by tenance tr profeson, isin pbc ess demorte onesty and Tes, People ww ats razon a ere he cede to preset nto pbc CPAs or Aste pret he rion a he pasion ‘yn eye wh works inh cing Fi i ttvorty. ily vais of ui pte ast ocur,a esang ‘Cidiemns dso lyse ven. Th linge Rive ers hat dene te een o yone ewsderng ween, reaeconing poleson, pendnse a Object snd nde go hd in ad in eect profesional camps of me moking wale delions nd sreveninens ts bee te chee, Cael eee orearpe, dest xg under ndpendence gubeines. Benen, Ss fen enclave rth co a 0 hat stews inane nis toch ‘cnain bjt and independ nese ore hat cones ae Ho sje © ouside nen. An inns psa don pec hese laden sree t's saiy coving intety mens bing sagen nd net ll sss td oes lane. phan itary ‘ext oconses esse eee wil inomaton i ey spel mately sear misleading oh msds ontidentity los of facil nena or rating estan of pote megs by an sect poison willow exes ‘son ve nl dao pasar lan eet psn yenon ts. Profesol Cmptene technol legit sn st oes harp. posal cout sna yp ode To ence sound get at si sy cf evens tt cnt et a ee oven, cis deanery sil vel oo sigs ht ohare expat inane were ado nt ConsiingRC pr Autor: thy exaine he il eon sn rane statements of busines. An aut iscarid aby ast Reddy gull scout. External aur thy se inyonsen ofthe business, Inte case of Hint compares external Ars reapplied he sharoles. Interna ouditrs thy aes bes who train the neal corto of he ens ‘headin Tie ears opin, eqs recards have ot been Kept oF he cay’ fn atemeas {tana at of Kets ep ntgrecnent wht compar’s za andres the Shar wl ase gift opinion othe pr. ‘ney cot wile ol tt he aie consers have nt ben det with cet by the Cie ith repoan of he ancl ttre feos aie ae ae mite eet eS fe ghee —ehenes ear ee a ae ee ace eee ‘The trae ad fie view The true and fair wie cre with ccarmsany teocurds, They mut confirm thal:‘Tears st verify that + Ast exit nd ar ced by the company re std a amount that ar in accordance with ‘cose count poles All ble ar inlet at amount hat ae in accordance with eet scouting polis. Kespng fn suds and psd rai teen as pena fonctions The ewan ition The masagenent sets molamente thse fe the eva thatcictors resive rin company on ily basis. The yet esther ofa slr, profi bees and share oon tse thet performance hot beefs atc spate beth nr, company cee sincera a ay Oa tes at stifle e pam a we wih antec nite “Spt amos sees ‘Sicilia oe bh bac “Sar enroute + Report on he sa of th company’ fs + Ease tat the rae seen signe by g@{@ember of he bom of decors1D REVENUI me PITAL ‘com Cant eendir: Espero the purchase of ied ass o improvements o existing fied. The expt wil ve lang em Beet othe Bsns ~ Le. more than one ye arabe example (motor vehies, premises) some epontane: Expand on te day o day uaningo the bss. The expendi vw bavea sn frm fit on he buses Le. es than ne ye, Foca example (pment of ent wages) Canal nce; le wich drive from soues oben esl of oad serves, "Hiss ial ong teon wd ny have to be ea at oe pat in the te Fern table cea owners cata el any non-cumet ) tr cone: cones ft le of oc ssw cody of none chew eter dino eel Tessauecans ce ney. cng Sh aS lth ctf ict reel pt andro eed on as: Tatoo ore al pil ange elie ney lot ta cou on wil oe) ad low oe lee ps crt or example i onde the cost of # new’ maar veblle (capt penis) a ites ofp in he profit les count Ferenc expedite, their pote woud be aes ad the valuatlon te balance set would ako be ‘detDEPRECIATION + Blain teem dersiaion, Demedian sts osin the valu ofa Hed se on eprint the cost of ine asl oer its sf ‘eyaluston method; 2 method of ealelating the depreciation of aes, by which thease is depreciated bythe difeeacein its vue atte end of the yar ove is value athe bgianing ofthe year + Give vdeo ld beck ‘Phys dterioratnn (Wear tear, passage of nc olnolescence & depletion “Tomccount fr ct cteuned used daring the ans yer. “Tochnge she ofthe sst the income sateen athe yeu Rolie the book alae of -cutent aetn the alc het "Tospan the oo over wat conor if Cy with cstning principles and concept rade, matching. < ‘2 Machiory wl ig es Artech ety Same nna ga ern thn yor ° monn sate the acne + tone hoe SS ee de bt oes tes forls teal, {© iis wen ofan expense if th cost ofthe item i atria ©The evaanton mod shoal be se the coats siganIntookkespng bank rcoatation statement sa process tha expan the ditrese on aspeid Ah betwen he bank lance shown in orasizaons bank staleme spell by Can, tl th corresponding aout shown int onariztions vn snug rears CCashtoo one's recon (Deb means + Balance, Cet eons — bance) Bonk strom i bans recod (Credit man + alas, Dima —Balanes) efaion sole: (© Clearing ihe tem wed to dsr the passage ofa cheque though te Baking ste. ‘invotesthetrsh of fds jrom one ascot aoter and an take fer de © Sebel of recta i the Us of aloes exacted fom he inal accouns of ‘ei aiomers 1 isomelnes refered na ached of deo (© Sehetae of payables he Ist balances exacted rw the ddl acouns fret ‘apples His ronctiver refered to a a sche cretion 1© Memorandum acounts wort infration coun ft ut hoe no part ofthe dele ney tem © Gan roti eed Thar of ert deat ech ancl aon ef he tester nr ws a en bere ‘the transaston was recorded, Ao 1 iret Debits: Tes ae payments which have ote mad, such sg bil, elect bile (We oul set this Foca bla). (© Bank Charge! Incest Charged: Money ded ely by the Hane (We shud but hsm cok bln) ‘© Dishonorad cheque: A choue tet has ben esd pyman by the dors (aeons ‘orvabl tk du nse fds he dbs coon eevee (We ‘oul sara hs fn castoak toe © Interest Received! Divides Received: Moncy aed to the bank account in frm of ‘eestor diver (We sold ai te ebook alae)(2 ‘rove and acute and updated bank balance ‘Knit ofenors mio y he bank wd oid othe bank for costo, (‘Menten ofsor fn th csh book and esi be crete Asi inthe prevention of aud ‘0 Weniewion of tank cars Parents ade ety by esomers Pynentof sanding ordain debits ety eurned equ CONTROL ACCOUNTS no wb Bas re may hav eon ‘2 Thesumof hol nv aecoons recite acoans a thsals ledger should be thesameas th casing balance on he sar contol cont. In hs case thy ar diferent which wo ate to Rat QO hve ay be soe ero tba ie he seer mina cea eg QR smn ii ge Bla ose dt co aca oierenmcnty esa © The dete eed gerne te sk 9 Theatr ign fre os © Cashion bh ded Bele pret a de 1 Tay el tt Grn pyables an ade recllst Be uly exec rhe {ula nd il tts 12 Thay ae kept inthe srr edger early fom sedges teases / seen of dst red he ik eres te 1 "Tey provetreabiliy oe es by ikalyng eros when ee als donot age wee at out Wl Te contl wot yelp tity poems na pau eia a talance desoc ei in — + esis itmetia ccursey of theses eget 4 Assis ine prevention of + Provides mnggenent wit eal debe + Hels inthe peearton othe blac sheet + Detets ates in inva og. (+ lain seme wane bib he ttl oan m7 ral accom whl us © Inston: + esis th nithmetia cercy of the pss lg 1 Asis te prevention of Fa 4+ Provides mnngenent with 1 ces, + lithe repanton oft lance sheet 1+ set eosin vi lalges. a © Theclsng bene woud pyar angio ave nthe ales set asi ees toaeslornony omen yee (A/Cs receivable). ¥ Stanni a sn raat aqegQe const rer bene of is foe {© Canto coins ts eter ist rand ules intel checks ca be cro at (© Cannot heck insides an rors tas © Theconio aso dont provide aches boas lege cet be checked as the tal igus fom th books prime ony ‘ 7 ona son, ed echoes edger cn at ong “A canta enty can arise when a eustomer ig also a supplier ofthe business. Instead ofAND: + Statesome nseaf ea balance 1 Tochec the insti accucyof the doubloeuny 19 Tobey eosin the ledger (© Tocleckthe dis equal ros ‘> Toproviea bor the reparation of facia sateents ‘Til ile eny coins Ut te ttl fall debit Blass mah the otal ofl oft blac rl lnc als ray age inspite oF rors. An example wou ince debit entry being ot by an eq rt etry. An example would be an Income dei ety bing fet by an a crit etry Likes ail bance lve proof tht ean transis vena beea recoded tal bests in sich ee bth dei and eet sider af «wanseon would be omitted easing the il lace tall gre. ‘+ Westfahe nye ofr whch ave nt dee yal Blane: ton a 3: fn ott +S. Eretof git ey & 5 Cmnenany es & 3 Comccrctrensis SS + sede en Scant festa PAreretonision ~~ Noompkee omission a transaction 1 Emrofconison Coe sun ented nore in of i as 2 Enrotpimge > —fommneae necro nue 2 Gomennngert enon cht 2 Grwstergal yen wet omen ba ut 2 Erotica” —ahony pn se son 2 Tmpston rer ~eorinare ents nb et ‘+ Bros hac ne ial alone no fo olan, © Onision ofthe dete teiccay Adit emoes Eaterine tmesctions tutce on the saame side(TION 1 mm DV ANTAGES AND DISADVANT NG 4 wav FARO Drange TORO Aarasige ‘ei pon al tha satay Fe todo sie ens e natrl ‘ay tats geal fed, Le. he cen ichthy we ee Ty er of ing pws FIFO ves veo a higher punta oer meds. The wes He ale of srt fae an the noes reported roi (avatgzns ihe ass bes). Tiel ae lee Frowever canbe egmded being etary © neon! ot pens, Tia FG ao ri i pal arches of ed a ‘Cs vey aT pa oto | ects eo ig lvl way pople eT athe acy he wy goods ar sed Tisai ais pale ie pps the Copies At SES and IAS TEs Fo vey ae wala ie wos pres tay avon adres een ring TIVO Aantage FO -Diadeavias “is wal of cls ey Bas on ios | IFO feel PHFD sine ae ely ad eth ods, Ti wae ed we ot ST {Yi ge ey ae Sis igi IFO voy a lower is a ier meta. This atl ots & ae aE AVEO: Advis To gk re de 3 ge vee pre rcogaer a fe n rs [ore we onc ingore 10 Ce ‘Varn eye wind ——— Av iran | ‘AVCO Teites e caeton. ek Tne Parca oad Thiske rath ore Sitio ese an be ber to wets [Te RS Ta etry wi -AVCD so the compara fpr pis ‘ots ade on amore oie ns see a7 Ieklclange a pea eo see Treo cory see wl hyip opr the feeds Tes He weg pe ond awe Te Wet oars te mos ae parse, soo sig very wl te iy cose to {et pecs ps uch the Intent prices paid for purchases, —__—_INCOMPLETE RECORDS 1 The edanioger and dadvonopero aban of molting fill tL cco: Advantages: By seting yp abd maining afl set of accunting records, he {usin ow) wl be rove with wp to dt information canczng the snouts ving, fom estar and ating to split. The stem wl lo make it ese rh (business ‘one to chek frees and erisions. isang: Thee is cost of sein up and operting ie You may nee 1 ample a pit bolekeper which would inte your expanses. Overall a doule-ey sen allows fr more contra fits wll peraed ‘Sinkment of Financial Pian Balanse Shee) Maing Salencot of Aff ea satan” A Gale Shel it«stxtement showing ase, linbilfier and showing sie, Uber aad capil of the emily, repared on equlyof he company prepared the hss oF single gy stem on te bss ofthe deuble entry “acer ‘paem elds Patt inn tenet ves * Ofte Tefal oping or caingTo show the company ai ol esi, Ye Estimation of Values we acumey verte Moe Fon Noted Specie+ Salve prbln ofp ortng copie by the mangas: © Eftstofpoorweking cata mangement If shines i omni adequaze working ep they ray be abe pay Ieirrettos which could evel mesh thatthe re unable to maintain adig they tne ual opus tk on cred So Tang's aya ind that fe hos nade ‘teh pay bck Nrloan wh isd in are, © Discusion or ckaation of working ait aio ’t ese Su Tang's woking capital ratio is Below he accepted noma evel of 2 whi nea tht ele esd fo conider statis to Impreve on his ge Suggest ingtos ier working atl Su Tons col ie tptimpoveher station tying together aoounts recimble oy thc ottndng cca fs, posh by offering cash discount to thom secu lo consider edinghe draings sel of ey suas otcurent Iss ofthe owns or edhe may want consider aking om pine wh coud invest omer ceded sh into the Busines. Ca sammie © repstuntempantmingah guaenen tt He renee car glauca tnINCOME AND EXPENDITURE ACCOUNTS +cat BA fx of cpt eount for a or-peoorete onpmnition