i just cant do them.. im unstoppable if it comes to club accounts but tp&l i cant understand.. HAALLLPPP PLZ!
Colm you can't do them because we have a terrible teacher and I find the trading profit and loss a/c's hard also.
and i'm in higher level
I hope this helps... (Start of formula)
1. Sales (find it in the question)
2.Cost of sales: (Memory Aid: OPICCC)
Cost of goods available for sale
(Less) Closing Stock
Cost of goods sold
Gross Profit (Sales minus cost of goods sold)
You'll just have to learn off all the expenses unfortunately!
Net Profit (Gross Profit minus total expense
personally im really bad at them i did all the questions but half did the tp&l my advice is do all the questions you can you get marked for your best 3 or 4 if you have time to spare give tp&l a go with half doing that question and doing all the questions i got a B😊
They are really hard if the teacher doesn't explain properly from the start
colm u only have to do anaslyed cash book if ur in ol for that type of question