SOPL

Name of Business Statement of Profit or Loss for the year ended ............( eg 31 December 2012) RM RM Sales XX Less: Sales returns/Return inwards (XX) Sales discount/Discount allowed (XX) Net Sales XXX

Less: Cost of Goods Sold Opening stock XX Purchases XX Less: Purchase returns/ Return outwards (XX) Purchase discounts/Discount received (XX) Add: Expenses on purchases: Carriage inwards XX Duty on purchases XX Insurance on purchase XX Cost of goods available for sale XX Less: Closing stock (XX) Cost of goods sold (XXX) Gross Profit or (Gross Loss) XXX

Add: Revenues Rent received XX Bad debt recovered XX Commission received XX Interest received XX XXX

Less: Expenses Salary and wages XX Insurance XX Rent expenses XX Interest expenses XX Carriage outwards XX Increase in allowance for doubtful debt XX Depreciation – Fixtures & fittings XX (XXX) Net Profit or (Net Loss) XXX

SOFP

Name of Business Statement of Financial Position as at .............. (eg 31 December 2012) RM RM RM Non-Current Assets Cost Accumulated depreciation

Net book value Land and Building XX (XX) XX Motor Vehicles XX (XX) XX Office Equipment XX (XX) XX Machinery XX (XX) XX Fixtures and Fittings XX (XX) XX

XXX Intangible Assets Goodwill XX Patent XX Trademark XX Franchise XX

Investment / Fixed deposit XX XXX Current Assets Closing Stock XX Account receivable XX Less: Allowance for doubtful debt (XX) XX Bank XX Cash XX Prepaid expenses XX Accrued revenues XX XXX **XXXX *** Financed by: Owner’s Equity Capital XX Add: Net Profit OR XX Less: Net Loss (XX) Less: Drawings (XX) XX

Non Current Liabilities Long Term Loan XX Mortgage on Premises XX XX

Current Liabilities Bank overdraft XX Account Payable XX Accrued expenses XX Prepaid revenues XX XX **XXXX ***

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FORMAT OF FINAL ACCOUNTS (VERTICAL FORMAT)

SOPL

Name of Business

Statement of Profit or Loss for the year ended …………( eg 31 December 2012)

RM RM

Sales XX

Less: Sales returns/Return inwards (XX)

Sales discount/Discount allowed (XX)

Net Sales XXX

Less: Cost of Goods Sold

Opening stock XX

Purchases XX

Less: Purchase returns/ Return outwards (XX)

Purchase discounts/Discount received (XX)

Add: Expenses on purchases:

Carriage inwards XX

Duty on purchases XX

Insurance on purchase XX

Cost of goods available for sale XX

Less: Closing stock (XX)

Cost of goods sold (XXX)

Gross Profit or (Gross Loss) XXX

Add: Revenues

Rent received XX

Bad debt recovered XX

Commission received XX

Interest received XX XXX

Less: Expenses

Salary and wages XX

Insurance XX

Rent expenses XX

Interest expenses XX

Carriage outwards XX

Increase in allowance for doubtful debt XX

Depreciation – Fixtures & fittings XX (XXX)

Net Profit or (Net Loss) XXX

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Format final acc (sopl&sofp)

Introduction in Financial Accounting (ACC 106)

Universiti Teknologi MARA

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FORMAT OF FINAL ACCOUNTS (VERTICAL FORMAT)

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