The finnal accountas are divided into three parts: the trading account, the profit and loss account, and the appropriation account.

problems would immediately arise if accounts were not kept.

Is the business able to repay the loan to the bank? affect:

§Final accounts are financial statements compiled by businesses at the end of a particular accounting period such as the end of a fiscal or trading year.

Final accounts are financial statements compiled by businesses at the end of a particular accounting period such as the end of a fiscal or trading year.

The profit and loss account shows the trading position of a business at the end of a specified accounting period.

.................................. refers to the final section of a Profit and loss account and shows how the net profit after interest and tax is distributed, i.e.dividends to shareholders and/or retained profit kept by the business.

Is there a universal method to present the final accounts?

COGS (or cost of sales when referring to services) is workedout by the formula:

Revenue is the positive difference between a firm's revenues and its costs.

§Inflating the value of intangible assets, such as brand names and patents owned by the business. Is a clear example of windows dressing.

Sales revenue is the income earned from selling goods and services over a given period.

gross profit is the direct cost of producing or purchasing the goods that were sold during that period.

A business can improve its gross profit by reducing costs and/or raising revenue

The profit and loss account, or the profit statement, shows the net profit (or loss) of a business at the end of a trading period.

...........................are the indirect or fixed costs of production, e.g. administration charges, management salaries, insurance premiums (for buildings, vehicles and stock) rent of land and property, and stationery costs.