1.

Vertical Format:

Name of Business
Income Statement for the year/month ended _____________
$ $ $
Revenue X
Less: Sales Returns (X)
Net Sales X
Less: Cost of Sales
Opening Inventory X
Purchases X
Less: Purcahses Returns (X)
Net Purchases X
Less: Goods for own use(Drawings) (X)
Add: Carriage Inwards X
Tax on Purchases X
Duty Import on Purchases X
Cost of Purchases X
X
Less: Closing Inventory (X)
Cost of Sales (X)

Gross Profit X
Add: Other Income
Discount Received X
Rent Received X
Commission Received X
Interest Received X X
X
Less: Expenses
Wages and Salaries X
General Expenses X
Insurance X
Discount Allowed X
Carriage Outwards X
Rates Expenses X
Advertisement X
Depreciation Expenses X
Rent Expenses X (X)
Profit from Operations X
Less: Loan Interest (X)
Profit for the year X
 Name of Business
Statement of Financial Position at ________________
$ $
Non-Current Assets
Premises X
Building X
Motor Vehicles X
Less: Accumulated Depreciation (X)
Net Book Value of Motor Vehicle X
Machinery X
Less: Accumulated Depreciation (X)
Net Book Value of Machinery X
Office Equipment X
Fixtures & Fittings X
Total Non-Current Assets X

Current Assets
Inventory X
Trade Receivables X
Less: Provision for Doubtful Debts (X) X
Cash & Cash Equivalents X
Prepaid Expenses X
Accrued Revenue X
Total Current Assets X
Total Assets XX

Capital & Liabilities

Capital at ________ (Opening) X
Add: Profit for the year X
X
Less: Drawings (X)
Capital at _________ (Closing) X

Non-Current Liabilities
Bank Loan X
Current Liabilities
Trade Payables X
Accrued Expenses X
Prepaid Revenue X
Total Liabilities X
Total Capital and Liabilities XX
2. "T" Format :
Name of Business
Trading Account as at _________________
$ $
Cost of Sales Revenue
Opening Inventory X Less: Sales Returns
Purchases X Net Sales
Less: Purcahses Returns (X)
Net Purchases X
Less: Goods for own use(Drawings) (X)
Add: Carriage Inwards X
Tax on Purchases X
Duty Import on Purchases X
Cost of Purchases X
X
Less: Closing Inventory (X)
Cost of Sales X
Gross Profit X
XX

Name of Business
Profit & Loss Account as at ______________________
RM
Less: Expenses Gross Profit
Wages and Salaries X Add: Other Income
General Expenses X
Insurance X
Discount Allowed X
Carriage Outwards X
Electricity, Water & Telephone X
Rates Expenses X
Depreciation Expenses X
Advertisement X
Loan Interest Expenses X
Rent Expenses X
Profit for the Year X
XX
 Name of Business
Statement of Financial Position at ______________
$
Non-Current Assets Capital & Liabilities
Premises X
Motor Vehicles X
Office Furniture X
Office Equipment X
Fixtures & Fittings X
X
Current Assets Non-Current Liabilities
Inventory X
Trade Receivables X Current Liabilities
Less: Provision for Doubtful Debts (X)
Cash & Cash Equivalents X
Prepaid Expenses / Accrued Revenue X
XX
f Business
at _________________
$ $
Revenue X
Less: Sales Returns (X)
Net Sales X

XX

f Business
at ______________________
RM
Gross Profit X
Add: Other Income
Discount Received X
Rent Received X
Commission Received X
Interest Received X

XX
 f Business
Position at ______________
$
Capital & Liabilities
Capital at ____ (Opening) X
Add: Profit for the year X
X
Less: Drawings (X)
Capital at _____ (Closing) X

Non-Current Liabilities
Bank Loan X
Current Liabilities
Trade Payables X
Accrued Expenses X
Prepaid Revenue X
XX
 Name of Business
Statement of Financial Position at ________________
$ $ $
Accumulated Net Book
Cost
Depreciation Value
Non-Current Assets
Premises X
Building X
Motor Vehicles X (X) X
Machinery X (X) X
Office Equipment X (X) X
Fixtures & Fittings X (X) X
Total Non-Current Assets X

Current Assets
Inventory X
Trade Receivables X
Less: Provision for Doubtful Debts (X) X
Cash & Cash Equivalents X
Prepaid Expenses X
Accrued Revenue X
Total Current Assets X
Total Assets XX

Capital & Liabilities

Capital at ________ (Opening) X
Add: Profit for the year X
X
Less: Drawings (X)
Capital at _________ (Closing) X

Non-Current Liabilities
Bank Loan X
Current Liabilities
Trade Payables X
Accrued Expenses X
Prepaid Revenue X
Total Liabilities X
Total Capital and Liabilities XX