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Introduction to Accounting & Finance

   

Added on  2021-02-21

17 Pages5128 Words72 Views
INTRODUCTION TOACCOUNTING ANDFINANCE

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1PART A -Yarnshaw Limited...........................................................................................................1PART B – Reckturk Plc...................................................................................................................5PART C............................................................................................................................................9A. Calculation of investment appraisal techniques......................................................................9B. Merits and demerits of different investment appraisal techniques........................................11C. Explain the benefits and limitation of Budget.......................................................................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14

INTRODUCTIONThe report will provide for understanding of financial statements and how they areprepared also about the fundamental concepts, models and techniques of financial accounting . Itwill also cover illustration that will help to understand the model, techniques and concepts thatare used in management accounting. The report will provide understanding about theimportance of different techniques that help to check the viability of project.PART A -Yarnshaw LimitedI) Income StatementIncome StatementFor the year ended31 December 2018Particulars££Revenues:-Sales(604800+154800)759600Other income0Total Revenues759600Expenses:-Cost of goods sold or cost of sales29160064800356400Depreciation11000Wages paid140400AddOutstanding wages at the end of the year2610143010Electricity Expenses9270Van running expenses40320Bad debts 1800Rent paid135000Less:-prepaid rent at the end of the year27000108000Total Expenses:-669800Net profit before tax898001

Less:-Tax paid6930Net profit after tax82870Working Notes1Total Salescredit sales604800cash sales1548007596002DepreciationPurchase Price of Van72000scarp value6000life in years 6Depreciation110003Tax ComputationTax upto 31 march 20182880Add:-Tax from 1 april 2018 to 31 march 20195400Less:-prepaid tax of 3 months(from 1january 2019 to 31 march 2019)135069304Electricity Expenses:-Expenses paid6840Add:-Outstanding expenses at the end of the year24309270II) Balance SheetBalanceSheetFor the yearended 31December20182

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