Page 88 - Office Practice and Accounting 10
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UNIT
6 Final Account
Learning objectives:
After the completion of this unit, students will be able
to understand:
• the meaning of final accounts.
• the objectives of preparing final account.
• trading account.
• direct expenses.
• the explanation of items appearing in trading
account.
• the items to be shown on the credit side of trading
account.
• profit and loss account.
• indirect expenses.
• the difference between trial balance and balance
sheet.
• the preparation of balance sheet.
• the types of assets and liabilities.
• the adjustments in final accounts.
• the objectives of adjustments.
82 Office Practice and Accounting 10
