Preparing a Financial Statement: Analysis and Calculation

The video tutorial covers the analysis and preparation of financial statements for the year 2015 using data from 2014 and 2016. It begins with an introduction to accounting analysis, followed by detailed steps to prepare a trading account, calculate expenses in the profit and loss account, and finalize the balance sheet. The tutorial emphasizes logical thinking and problem-solving skills in accounting.

What information do we need to calculate the net profit or net loss?

How do we confirm if the balance sheet is reasonably correct?

What steps are involved in preparing the financial statements for the year 2015?