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ACCA F6 - Trading Profit Adjustment

ACCA F6 - Trading Profit Adjustment

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Published by Iftekhar Ifte

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Published by: Iftekhar Ifte on Jun 15, 2012
Copyright:Attribution Non-commercial

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03/29/2015

 
Review: Fahim Rehan Khan, Prepareby: Iftekhar IFTE,ifteinfo@gmail.com 
Trading Profit Adjustment
Individual & Companies
Net Profit per account/ Operating Profit/ (loss)x/(x)Add:
Depreciation
x
 Amortization
x
Entertaining Clients/Customers/Suppliers
x
Gift to Customer 
(Note:1)x
Gift aid Donation
(Note:2)x
Donation to a Political Party
x
Donation to a National Charity
x
Donation to a National Charityunder gift aid scheme
(Note: 3)x
Repair & Renewals (if capital in nature)
x
Motor Expense (only private use portion)
x
Car Lease
(Note:4)x
Telephone (only private use portion)
x
Parking Fines [without employee parking (allowable) fines]
x
Health and Safety Fines
x
Golf Club membership
x
Health Club Subscription
x
Legal fees (Capital in nature)
x
Legal fees in connection with the Issue of Share
x
Legal fees in connection with the Court action
x
Legal fees in connection with a grant of a new lease
x
Legal fees in connection with the Purchase of the Shop
x
Fees for Planning Permission
x
Personal Tax advise
x
Capital Gain Tax work
x
 Accommodation (only private use portion)
x
Light & Heat (only private use portion)
x
 Any Capital Expenditure
(Note:5)x
Building Extension to enlarge –office/shop/work space
x
Written -off Trade debts
x
Written -off of Loan to customers
x
Impaired debts Written -off (non trade purpose)
x
Non trading interest payables
x
Own Consumption
(Note:6)x
Excessive Salary/Remuneration paid to Family
x
Decorating Private Flat
x
Drawing of the Proprietor 
x
 Allowance for trade debtors
xxxLess:
Capital Allowance(Plant and machinery, IBA)
x
Private Telephone (portionof Business use)
x
 Any Private Assets (portionof Business use)
x
Use of Office (portionof Business use)
x
Rent paid for Business (Business purpose)
x

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