Business Accounts

BUSINESS ACCOUNTS
sample documents
sourced from www.osbornebooks.co.uk
Sample documents
document invoice statement double-entry accounts cash book petty cash book extended trial balance page 3 4 5 6 7 8
sole trader financial statements statement of cash flows
limited company financial statements
11-12 13
9-10
this document was sourced from the Osborne Books website: www.osbornebooks.co.uk
INVOICE
invoice to
invoice no account your reference date/tax point
deliver to
product code
description
quantity
price
unit
total
discount %
net
terms Net 30 days Carriage paid E & OE
GOODS TOTAL VAT TOTAL
STATEMENT OF ACCOUNT
TO
account date
date
details
debit
credit
balance
AMOUNT NOW DUE
Dr
Date
Details
Date
Details
Cr
Dr
Date
Details
Date
Details
Cr
Dr
Date
Details
Date
Details
Cr
Date
Dr
Details
Date
Details
Cr
Date Date Details Folio Discount received VAT Cash
Dr
VAT Cash Bank Bank
Details
Folio
Discount allowed
Cash Book Cr
Receipts VAT
Date
Details
Voucher number
Petty Cash Book

Total payment
Analysis Columns
Description Dr Cr Dr Cr Dr Cr Dr Cr
EXTENDED TRIAL BALANCE Ledger balances Adjustments Profit and loss Balance sheet
name....................................................................
date...............................................
Closing stock: Profit and loss Closing stock: Balance sheet Accruals Prepayments Depreciation Bad debts Provision for bad debts:adjustment
Net profit/loss
TRADING AND PROFIT AND LOSS ACCOUNT OF FOR THE YEAR/PERIOD ENDED
sole trader financial statements
Sales
TRADING ACCOUNT
Less Sales returns Net sales Opening stock Purchases Carriage in
Less Purchases returns Net purchases
Less Closing stock Gross profit
Cost of Goods Sold Add other income, eg Discount received
PROFITANDLOSS ACCOUNT
Less expenses, eg Rent Rates
Other income
Reduction in provision for bad debts Profit on sale of fixed assets
Vehicle running expenses
Other items, eg
Net profit
Increase in provision for bad debts
Bad debts written off
Loss on sale of fixed assets
Provision for depreciation
Carriage out
Discount allowed
Salaries and wages*
Telephone
Heating and lighting
* Wages are sometimes listed as an expense in the trading account section
BALANCE SHEET OF Fixed Assets Intangible: Tangible: Cost
Goodwill Vehicles etc
Dep'n to date
AS AT
Net
Premises
Equipment
Current Assets Stock (closing) Debtors
Less Provision for bad debts Prepayments Bank Cash
Less Current Liabilities Creditors Accruals Bank overdraft
Working Capital Loans
NET ASSETS Capital
Less Long-term Liabilities
Less Drawings
Add Net profit (from profit and loss account)
Opening capital
FINANCED BY
Practical point: when preparing handwritten financial statements it is usual practice to underline all the headings and sub-headings shown in bold print in the example layout.
10
INCOME STATEMENT FOR THE YEAR ENDED Revenue
limited company financial statements
Opening inventories Purchases Less Closing inventories Cost of Goods Sold Gross profit Less Overheads:
Administration expenses Profit from operations Less Finance costs Profit before tax Less Tax
Distribution costs
Profit for the year Statement of changes in equity
Profit for the year
Balance at start of year Less Dividends paid
Retained earnings
Balance at end of year
11
STATEMENT OF FINANCIAL POSITION AT Non-current Assets Cost
Property, plant and equipment Freehold land and buildings Machinery Fixtures and fittings Current Assets Inventories Trade and other receivables Cash and cash equivalents Less Current Liabilities Trade and other payables Tax liability Net Current Assets Less Non-current Liabilities 10% debentures NETASSETS EQUITY Authorised Share Capital Ordinary shares of each
Intangible Goodwill
Impairment/ Dep'n to date
Net
Revenue Reserve Retained earnings TOTAL EQUITY
Capital Reserve Share premium
Issued Share Capital Ordinary shares of each, fully paid
Note: Net Current Assets is an alternative term for Working Capital and is commonly used in limited company statements of financial position.
12
STATEMENT OF CASH FLOWS

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED Net cash (used in)/from operating activities Purchase of non-current assets Interest received Cash flows from investing activities
Proceeds from sale of non-current assets Dividends received
Cash flows from financing activities Repayment of share capital Proceeds from issue of share capital
Net cash (used in)/from investing activities
Proceeds from long-term borrowings Repayment of long-term borrowings Dividends paid (note: amount paid during year) Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year Net cash (used in)/from financing activities
() () ()
Reconciliation of profit from operations to net cash flow from operating activities Adjustments for: Profit from operations (note: before tax and interest) (Gain) / loss on sale of non-current assets Depreciation for year
Net cash (used in)/from operating activities

13
Income taxes paid (note: amount paid during year)
Interest paid (note: amount paid during year)
Cash (used in)/from operations
Increase / (decrease) in trade and other payables
Increase / (decrease) in trade and other receivables ()
(Increase) / decrease in inventories
()

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Business Accounts - Financial Docs

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sourced from www.osbornebooks.co.uk

sole trader financial statements statement of cash flows

limited company financial statements

invoice no account your reference date/tax point

terms Net 30 days Carriage paid E & OE

GOODS TOTAL VAT TOTAL

AMOUNT NOW DUE

Date Date Details Folio Discount received VAT Cash

Petty Cash Book

sole trader financial statements

Less Sales returns Net sales Opening stock Purchases Carriage in

Less Purchases returns Net purchases

Less Closing stock Gross profit

Cost of Goods Sold Add other income, eg Discount received

Less expenses, eg Rent Rates

Reduction in provision for bad debts Profit on sale of fixed assets

Vehicle running expenses

Increase in provision for bad debts

Bad debts written off

Loss on sale of fixed assets

Provision for depreciation

Salaries and wages*

Heating and lighting

* Wages are sometimes listed as an expense in the trading account section

BALANCE SHEET OF Fixed Assets Intangible: Tangible: Cost

Goodwill Vehicles etc

Current Assets Stock (closing) Debtors

Less Provision for bad debts Prepayments Bank Cash

Less Current Liabilities Creditors Accruals Bank overdraft

Working Capital Loans

NET ASSETS Capital

Less Long-term Liabilities

Add Net profit (from profit and loss account)

INCOME STATEMENT FOR THE YEAR ENDED Revenue

limited company financial statements

Profit for the year Statement of changes in equity

Profit for the year

Balance at start of year Less Dividends paid

Balance at end of year

STATEMENT OF FINANCIAL POSITION AT Non-current Assets Cost

Impairment/ Dep'n to date

Revenue Reserve Retained earnings TOTAL EQUITY

Capital Reserve Share premium

Issued Share Capital Ordinary shares of each, fully paid

STATEMENT OF CASH FLOWS

Proceeds from sale of non-current assets Dividends received

Net cash (used in)/from investing activities

Net cash (used in)/from operating activities

Income taxes paid (note: amount paid during year)

Interest paid (note: amount paid during year)

Cash (used in)/from operations

Increase / (decrease) in trade and other payables

Increase / (decrease) in trade and other receivables ()

(Increase) / decrease in inventories

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