Final Accounts 2
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Students will learn how to extend the Trial Balance in order to prepare the Final Accounts of business (Profit and Loss account and Balance sheet).
To enrol for Final Accounts 2, students must have basic book keeping skills. Ideally they should have completed the Basic Book-keeping , Purchase Ledger and Sales Ledger courses and must have completed Final Accounts I.
Final Accounts 2 will require approximately 12 study hours at our High Holborn or Notting Hill training centres.
Visit www.holborntraining.co.uk for more information.
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In five lessons, you'll cover:
Lesson 1: Adjustments made to the Trial Balance; capital expenditure and revenue expenditure; calculating accruals and prepayments; bad debts; calculating the value of stock.
Lesson 2: Using the Journal; double entry to be used for the most common year-end adjustments; making Journal entries in order to record adjustments made in the ledger accounts.
Lesson 3: Extending the Trial Balance to include Journal entries , accruals and prepayments; calculating the profit , or loss of the business.
Lesson 4: Preparing and P&L account and Balance Sheet; calculating the gross profit percentage; calculating the mark up percentage.
Lesson 5: Closing off the ledger accounts; identifying which balances are transferred to the next accounting period and which are transferred to the Profit and Loss account.