Accounting · 5th Year · Preparation of Financial Statements · 2.º Período
End of Year Adjustments
Incorporating accruals, prepayments, depreciation, and bad debts into financial statements.
NCCA Curriculum SpecificationsNCCA Leaving Certificate Accounting Syllabus, Section 1: Financial Accounting - Sole Traders (Adjustments to final accounts)NCCA Leaving Certificate Accounting Syllabus, Section 1: Financial Accounting - Accounting Records (Depreciation and revaluation of fixed assets)
About This Topic
Incorporating accruals, prepayments, depreciation, and bad debts into financial statements.
Key Questions
- Why are end-of-year adjustments necessary?
- How do we account for depreciation of fixed assets?
- What is the impact of accruals on the profit and loss account?