HOD: __________

AD/Coordinator: __________

KOVAIPUDUR, COIMBATORE

Accounting Formats IGCSE

Income statement for the year ended …..

Details $ $

Revenue (sales) xxx

Less: Returns inwards (xx)

xxx

Less : Cost of sales

Opening inventory xx

Purchases xxx

Carriage inwards/Carriage on purchase xx (-)

Returns outwards (xx)

Goods taken for own use (xx)

Closing inventory (xx) (xxx)

GROSS PROFIT xxx

Add : Other Incomes

Rent received, Profit on sale of NCA xx (+)

Bad debts recovered xx

Decrease in provision xx xxx

xxx

Less: Operating expenses

Carriage outwards/carriage on sales xx

Rent,Rates, Taxes, Insurance xx

Comission paid, Discount allowed xx

Advertising, Distribution costs xx

Wages & Salaries xx

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 Bad debts, Increase in provision xx

Depreciation, Loss on Sale of NCA xx

Lighting and heating xx

Motor expenses, General Expenses xx (xxx)

PROFIT FOR THE YEAR xxx

Statement of Financial Position as at ….

ASSETS $ $ $

Non current assets Cost Dep'n NBV

Property,Equipments xx (xx) xx

Machinery, Motor vehicles xx (xx) xx

Fixtures and fittings xx (xx) xx

xxx

Current Assets

Closing inventory xx

Trade receivables, Other receivables xx

Cash and Cash equivalents xx xx

TOTAL ASSETS xxxx

LIABILITIES
Financed by

Capital xxx

Profit for the year xx

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Drawings (xx)

CLOSING CAPITAL xxx

Non Current Liabilities (+)

Bank loan xx

CAPITAL EMPLOYED xxx

 Current Liabilities
Trade Payables xx

Cash and Cash equivalents(overdraft) xx

Accrued expenses/ Prepaid incomes xx

xx

 TOTAL LIABILITIES xxxx

Note: show the accumulated depreciation in the depreciation column

Closing capital + Non-current liabilities = Capital Employed

Depreciation
Non Current Asset Disposal account

Details $ Details $

Cost of the asset xx Provision for depreciation xx

Income statement xx Cash/Bank xx

[profit] Income statement xx

[or] [loss]

xxx xxx

Cash Book (updated)

(Bank columns only)
Date Details $ Date Details $

Balance b/d xx Standing order xx

Credit transfer xx Direct debit xx

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 Dividends received xx Dishonoured cheques xx

Cash sales xx Bank charges xx

Cash
[omitted] purchases[omitted] xx

Balance c/d xx

xxx xxx

Balance b/d xx

Bank Reconciliation statement as at…

Details $ $

Debit balance as per cash book xxx

Add: unpresented cheques: X xx

:y xx xx

xxx

Less: Uncredited deposits: A xx

:B xx (xx)

Credit balance as per bank statement xxx

Alternative format

Bank Reconciliation statement as at…

Details $ $
Credit balance as per bank statement xxx
Add: Uncredited deposits: A xx
:B xx xx
xxx
Less: unpresented cheques: X xx
:Y xx (xx)
Debit balance as per cash book xxx

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Capital Account (Sole Trader)

Date Details $ Date Details $

Drawings xx Balance b/d xxx
Loss for the year xx Cash/ Bank/Furniture xx
(Additional Capital)
Balance c/d xxx Profit for the year xx
xxxx xxxx
Balance b/d xxx
Ledger Accounts for Expenses and Incomes

Expense Account
Date Details $ Date Details $
Balance b/d xx Balance b/d xx
[prepaid b/d] [owing b/d]
Bank prepayments xxx Income statement xxx
[payments for the exp.] [bal. figure]
Balance c/d xx Balance c/d xx
[owing c/d] [prepaid c/d]
xxx xxx

Income Account
Date Details $ Date Details $
Balance b/d xx Balance b/d xx
[owing b/d]
Income statement xx Bank xx
[balance figure] [reciepts for incomes]
Balance c/d xx Balance c/d xx
[prepaid] [owing]
xxx xxx

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 Manufacturing Accounts

Manufacturing account for the year ended ……

Details $ $
Direct Materials
Opening inventory of raw materials xx
Purchase of raw materials xxx
Carriage on raw materials xx
Returns outwards of raw materials (xx)
Closing inventory of raw materials (xx)
Cost of raw materials consumed xxx
Direct Labor (+)
Direct wages/Factory wages/production
wages/Manufacturing wages xx
Direct Expenses (+)
Royalties, Patent fees xx
PRIME COST xxx
Indirect manufacturing cost/factory overheads
Factory rent, Factory lighting & heating xx
Factory insurance, indirect wages xx
Factory general expenses xx (+)
Depreciation - Plant & machinery xxx
- Factory equipments xx
Factory manager/supervisor salary xx xx
xx
Opening inventory of work in progress xx
Closing inventory of work in progress (xx)
COST OF PRODUCTION xxx

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 Income statement for the year ended… (for manufacturer)
Details $ $
Revenue (sales) xxx

Returns inwards (xx) xxx

Cost of sales

Opening inventory of finished goods xxx

Cost of production xxx

Purchase of finished goods xx

Closing inventory of finished goods (xx) (xxx)

GROSS PROFIT xx

Incomes (+)

Discount received, rent received xx

Expenses

Administrative expenses

Administration salaries xx

office rent, office lighting xx

Office insurance, office expenses xxx

Depreciation- office equipment xx xxx

SELLING AND DISTRIBUTION EXPENSES (+)

Carriage outwards xx

Salesmen's salaries , commission xx

Depreciation : Delivery vehicles xx xx

FINANCIAL CHARGES (+)

Bank charges xx

Discount allowed xx xx

(xxx)

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 PROFIT FOR THE YEAR xx

Partnership
Profit & loss appropriation account for the year ended …….
Details $ $
Profit for the year xxx

Add: Interest on drawings : X xx (+)

:Y xx xx

xxx

Less: Interest on capital : X xx

:Y xx (-)

Partners salaries : X xx

:Y xx

Bonus/Commission to partners xx (xxx)

Residual Profit (remaining profit) xxx

Share of profit : X xx

:Y xx

xx

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 Partners’ current account
Date Details x y Date Details X Y

Balance b/d - xx Balance b/d xx -

Drawings xx xx Interest on capital xx xx

Interest on drawings xx xx Partners salaries xx xxx

Bonus xx -

Balance c/d xx xx Share of profit xx xx

Interest on loan - xx

xxx xxx xxx xxx

Balance b/d xx xx

Sales ledger control account

(Total trade receivables control account)
Date Details $ Date Details $
Balance b/d xx Balance b/d x
[Opening Trade receivables] Cash/bank (receipts from xxx
Credit sales xxx trade receivables)
Dishonoured cheques xx Discount Allowed xx
Cash refund to customers xx Returns inwards xx
Irrecoverable debts written
Inter. charged on overdue bills xx off xx
Purchases Ledger:contra xx
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 Balance c/d x Balance c/d xx
[clos. Trade rec.]
xxx xxx
Balance b/d xx Balance b/d x

Purchases ledger control account

(Total trade payables control account)
Date Details $ Date Details $
Balance b/d x Balance b/d xxx
[opening Trade
Cash/Bank xxx payables]
[payment to trade payables] Credit purchases xxx
Discount received xxx Inter. Charged by sup. xx
Returns outwards xx on overdue bills
Sales ledger:conta xx cash refund from sup. xx
Balance c/d xx balnce c/d x
[clos. Trade pay.]
xxx xxx
balance b/d xx balance b/d xx

NB: Cash sales, Cash purchases and provision for doubtful debts do not appear in
control accounts

Non Trading Organisations

Subscriptions Account
Date Details $ Date Details $
Owing b/d xx Prepaid b/d xx
[balance b/d] [Balance b/d]
Income & exp. a/c xxx Bank- Membership fee rec. xx
[balancing figure] Bad debts xx
balance b/d xx Owing c/d xxx
[prepaid c/d] [balance c/d]

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 xxx xxx
Owing b/d xx Prepaid b/d xx

Alternative format
Subscriptions for the year ended ….
Details $ $
Subscriptions received during the year xxx
Add : Closing owing xx (+)
Opening prepaid xx
Bad debts written off xx xxx
xxx
Less : Closing prepaid xx xxx
Opening owing xx (xx)

Subscriptions for the year xxx

Income and expenditure account

Details $ $

Incomes

Subscriptions (bal. figure from subs. Account) xx

Profit from refreshment/ bar trading xx

Donations received xx

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Entrance fees xx

Profit from the sale of assets xx

Collection at matches/events xx

Visitors fee, competition fees xx xxx

Expenses

Wages - Groundsmen, Green keeper,etc xx

Rent ,Rates , Insurance xx

Secretary's expenses xx

Loan interest xx

Depreciation xx

Miscellanious expenses xx

Bad debts xx

Statiionery, printing xx (xxx)

Surplus (Excess of income over expenditure) xxx

If expenditure is more than the incomes it is termed as a "deficit"

Limited liability Companies

Statement of changes in equity
Ordinary Preference General Retained
Details Total
share capital Share capital Reserves profit
Balance b/d xxx xx xxx xx xxxx
Profit for the year - - - xx xxx
Transfer to
reserves - - xx (xx) -
Dividends paid - - - (xx) (xx)
Issue of shares xx - - - xx
Balance c/d xxx xx xxx xx xxx

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 Statement of financial position as at ….
$ $ $
ASSETS Cost Dep'n NBV
Non-current assets
Property, Equipments xxx (xxx) xxx
Current Assets (+)
Inventory,Trade recievables, prepaid expense xx
Cah and cash equivalents xx xxx
Total Assets xxx
Capital and liabilities
SHARE CAPITAL AND RESERVES
Ordinary share capital xx
Preference share capital xx
General reserves xx
Retained profit xx xxx
Non-current liabilities
Debentures xx
Bank loan xx xx
Current liabilities
Trade payables, Expenses owing xx (+)
Cash and cash equivalents [bank overdraft] xx xxx

Total liabilities xxx

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