Statement of profit or loss and Balance sheet Flashcards
1
Q
Statement of profit or loss
A
Sales Revenue
Cost of Sales
Gross profit
Expenses
Profit before interest and tax
Interest
Profit before tax
Tax
Profit for period
Dividends
Retained profit
2
Q
Balance sheet
A
Non - current assets
Current assets
Total assets
Current liabilities
Non - current liabilities
Total liabilities
Net assets
Equity
Total equity
3
Q
Non-current assets
A
Property, plant, and equipment
Accumulated depreciation
4
Q
Current assets
A
Cash
Debtors
Stock
5
Q
Current liabilities
A
Bank overdraft
Trade creditors
Other short-term loans
6
Q
Non-current liabilites
A
Borrowings
7
Q
Equity
A
Share capital
Retained earnings
