UNIT 4 P4 prepare a profit and loss account and
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UNIT 5 P4 - prepare a profit and loss account and balance sheet for a given organisation
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--21februari 20162014/2015
- For P4, learners will describe the purpose and use of the trading, profit and loss
account and balance sheet. They will also explain how gross profit and net profit are
calculated by indicating the kinds of income and expenditure that are included.
Learners will be presented with a trading and profit and loss account and a balance
sheet for a business organisation, which should be set out using the vertical style.
Learners will label the ‘cost of goods sold’ section and the ‘overheads’ s...
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