You are on page 1of 1

Statement of comprehensive income for (Name) for the year ended (Date) Turn over Cost of Sales Gross

s profit Other income Distribution cost Administrative expense Other expenses Finance Costs Profit on Ordinary activities before taxation Corporation tax Profit on Ordinary activities after taxation xxx (xxx) xxxx xxx (xxx) (xxx) (xxx) (xxx) xxx xxx xxx





professional fees, bad debts, increase in provision for bad debts, office staffs cost, financial director wages, auditors fee, administration staff wages, remuneration fee , Managing directors salary, legal fees, Loss on Disposal, business rates. Other income: discount received, canteen saes, profit on disposal, commission received, rent received, income from investment, interest

receivable, dividend received Finance cost: Debenture interest, Interest on Bank loan.

Workings: Turn over: sales return in Cost of sales: opening stock+ (purchases- return)closing stock. Add direct expenses; air freight charges, custom duty, carriage in. If it is a manufacturing company, cost of sales= opening stock + *cost of production closing stock * cost of production: cost of material, direct labour, production wages, production managers salary, research and development cost, factory overhead, depreciation of plant and machinery, depreciation of factory building, royalties. Distribution costs: Promotion and advertising, sales assistance wages, shop rent, motor lorry depreciation, fuel, transport cost, warehouse expense, delivery cost, vehicle expenses, lorry drivers wages, sales directors wages, carriage out, Commission on sales, marketing director salaries.

All the workings must be shown outside the income statement Heading must be written as shown in the format

Statement of changes in equity for (name) for the year ended (date) Retained earnings brought forward Transfer to reserve Dividends Comprehensive income for the year Transfer back to retained earnings Retained earnings carried forward xxx (xxx) (xxx) xxx xxx xxx