有關F.3 P.A (Final account)

Firms often close their accounts at the end of a moth or a financial year, and that is called month-end closing or annual closing. At the end of the accounting year, accounts will be close to prepare final accounts決算帳戶. final accounts are important accounting documents which includes the tarding account anf profit and loss account, and the balance sheet.(For F.3 level).

*Trading account-an account in which gross profit or gross loss can be calculated.
Gross Profit/Gross loss=Sales-Cost of good sold=Sales-(Opening stock+Purchases-Closing Stock)

*Profit and loss account-an account in which net profit or net loss will be calculated.
Net profit/Net loss=Gross Profit/loss-Expenses+others revenue

*Trading and profit and loss account is a combined in both gross and net profits are calculated.

*Balance Sheet is a list of assets, liabilities and capital balances which shows the financial position of a business at a particular date. It is a presentation of the accounting equation (Assets=Liabilities+Capital).