Reporting Financial Performance Statement of Profit and Loss Formulas Flashcards
Assets
Equity + Profit + Liabilities
Profit
Total revenue - Total cost
Cost of sales
Opening inventory + Purchases - Closing inventory
Straight-line depreciation depreciable amount
Cost - Residual value
Straight-line depreciation annual depreciation
Depreciable amount X Depreciable rate
Straight-line carrying amount
Service Potential (cost) - Yearly depreciation
Straight-line accumulated depreciation
Current accumulation + year 1 accumulation
Reducing balance depreciation annual depreciation expense
Carrying amount at the beginning of the year X Depreciation rate
Reducing balance accumulated depreciation
Previous year accumulated depreciation + Current year depreciation
Reducing balance carrying amount
Previous year carrying amount
Carrying amount at the end of the year
Carrying amount at the beginning of the year - Accumulated depreciation
Units of production depreciation schedule depreciation value of the unit
Cost - Residual value
Units of production depreciation schedule depreciation cost per km
Depreciation value of unit/ Estimated useful life
Units of production depreciation schedule annual depreciation
Units of production X Depreciation cost unit
Units of production depreciation schedule carrying amount
Cost of the asset + Accumulated depreciation
