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Format Statement of Profit or Loss and Statement of Financial Position

Sales Revenue (-) Sales Return / Return Inwards (-) Sales Discount /...
Course

Financial and Management Accounting (ACC466)

49 Documents
Students shared 49 documents in this course
Academic year: 2020/2021
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Universiti Teknologi MARA

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Format of Statement of Profit or Loss

Co's / Business's Name

Statement of Profit or Loss for the year ended 20XX

RM RM RM

Sales Revenue X

(-) Sales Return / Return Inwards (X)

(-) Sales Discount / Discount Allowed (X) ‘

Net sales XX

Less: Cost of Goods Sold (COGS)

Opening Inventory X

Purchases X

(-) Purchases Return / Return Outwards (X)

(-) Purchase discounts/Discount Received (X) XX

(+) Expenses on Purchases

Insurance on Purchases X

Import Duty X

Custom Duties X

Carriage / Transportation Inwards X

(-) Closing Inventory (X)

Cost of goods sold (COGS) (XX)

GROSS PROFIT / (LOSS) XXX

Add: Other Income /Revenue

Bad Debts Recovered X

Interest Income X

Commission Revenue X

Dividend from Investment X

Rental Income X

Decrease in AFDD X

Total Revenue /Income XX

Less: Expenses

Selling & Distribution Expenses X

Carriage / Transportation Outwards X

Advertising Expenses X

Administrative Expenses X

Travelling X

Water & Electricity / Utilities X

Rental Expenses X

Wages & Salaries X

Increase in AFDD X

Depreciation on Non-current Asset X

Donation & Gifts X

Entertainment Expenses X

Printing, Stationery & Postage X

General Expenses X

Maintenance & Repairs X

Road Tax X

Petrol X

Insurance Expenses X

Miscellaneous Expenses X

Office Expenses X

Audit Fees X

Accounting Fees X

Interest on Loan / Interest Expenses X

Total Expenses (XX)

NET PROFIT / (LOSS) XXX(*)

Format of Statement of Financial Position

Co's / Business's Name

Statement of Financial Position as at 20XX

RM RM RM

Cost Accumulated Depreciation

Carrying Value NON-CURRENT ASSET Tangible assets Motor Vehicle X (X) X Plant & Machinery X (X) X Furniture & Fittings X (X) X Office Equipment X (X) X Buildings/Premises X (X) X Land X - X

XX

Intangible assets Copyright X Patent X Goodwill X

Trademark X XX

Investments

Fixed Deposit (> 1year) X

Investment X XX

CURRENT ASSETS

Closing Inventory X

Short Term Fixed Deposit X

Short Term Investment X

Account Receivables X

(-) Bad Debt (X)

(-) Allowance For Doubtful Debts (AFDD) (X) XX

Cash at Bank X

Cash in Hand X

Accrued Revenues X

Prepaid Expenses X XX

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Format Statement of Profit or Loss and Statement of Financial Position

Course: Financial and Management Accounting (ACC466)

49 Documents
Students shared 49 documents in this course

University: Universiti Teknologi MARA

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Format of Statement of Profit or Loss
Co's / Business's Name
Statement of Profit or Loss for the year ended 20XX
RM RM RM
Sales Revenue X
(-) Sales Return / Return Inwards (X)
(-) Sales Discount / Discount Allowed (X) ‘
Net sales XX
Less: Cost of Goods Sold (COGS)
Opening Inventory X
Purchases X
(-) Purchases Return / Return Outwards (X)
(-) Purchase discounts/Discount Received (X) XX
(+) Expenses on Purchases
Insurance on Purchases X
Import Duty X
Custom Duties X
Carriage / Transportation Inwards X
(-) Closing Inventory (X)
Cost of goods sold (COGS) (XX)
GROSS PROFIT / (LOSS) XXX
Add: Other Income /Revenue
Bad Debts Recovered X
Interest Income X
Commission Revenue X
Dividend from Investment X
Rental Income X
Decrease in AFDD X
Total Revenue /Income XX
Less: Expenses
Selling & Distribution Expenses X
Carriage / Transportation Outwards X
Advertising Expenses X
Administrative Expenses X
Travelling X
Water & Electricity / Utilities X
Rental Expenses X
Wages & Salaries X
Increase in AFDD X
Depreciation on Non-current Asset X
Donation & Gifts X
Entertainment Expenses X
Printing, Stationery & Postage X
General Expenses X
Maintenance & Repairs X

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