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Video tutorials - Elements of Book-keeping and Accountancy: Final Accounts (Central Board of Secondary Education (CBSE))

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We have provided more than 1 series of video tutorials for some topics to help you get a better understanding of the topic.

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shaalaa.com | Introduction to Trading Account

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Introduction to Trading Account [00:03:01]
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Description

  • Preparation of Trading and Profit and loss Account and Balance Sheet of Sole trader.
  • Adjustment for closing stock only.[amount of closing stock to be given]

Learning Outcomes:-

The learners would be able to:-

  • State the meaning of financial statements & the purpose they serve for a sole proprietor
  • Develop the skill of preparing Trading Account and calculating Gross Profit
  • Develop the skill of preparing profit and loss account and calculating the net profit
  • Explain the need for preparing ‘Balance Sheet’.
  • Understand the techniques of preparing the ‘Balance Sheet’
  • Develop the understanding to do the simple adjustment for closing stock
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