This unit begins with interpreting basic income statements and answering simple questions about the information contained in them. There are income statements to be completed using data (but with excel formulae already in place to calculate the Gross Profit and Profit for the Year), followed by questions that need to be answered about the information. Continuing on, there are several tasks that incorporate both the “trading account” and the “profit and loss account” with questions focusing on cost of sales analysis. Building from this, there are tasks where Income Statements need to be completed with the data provided and using Excel formula (or using manual calculations) and analysis of this information. There are also tasks where income statements need to be compared, analysed and interpreted. At the end of the unit, there are general theory questions followed by exam style questions.
** Please note that solutions, a paper based version of these tasks, a theory note and information on the new international accounting terminology are included in the purchase price **