2.13 - Prepare final accounts to assess
Learning Intentions
By the end of this section you should be able to do the following
1. Explain the different between current and capital expenditure - include examples
2. Identify different business expenses
3. Prepare an income statement to calculate net profit
4. Calculate the closing reserve for a business
5. Describe the purpose of a statement of financial position
6. Distinguish between fixed assets, current assets and creditors
7. Prepare a statement of financial position