Income Statement Grade 12

This video was uploaded in 2017 by dr gr schreuder grade 12.
Income statement grade 12. 1 1 income statement. In this lesson we revise the income statement as well as adjustments made to the income statement. 12 learner notes information. Accounting periods can run for example from march 1st to february 28th or july 1st to june 31st.
The company sells sports equipment and repairs equipment for their customers. Accounting grade 12 term 3 revision. Under indirect method first the funds from operation is ascertain by adjusting the net income by non cash expenses and non operating incomes and expenses included in the income statement. The video below takes 38 minutes and 24 seconds and.
The funds from operation so ascertained are again adjusted by the changes in current assets and the changes in current liabilities to determine cash flows. Revision video accounting grade 12 companies final accounts financial statements and notes. Asked feb 27 2018 in accounting by admin master 890k points 579 views. A regular 12 month accounting period does not necessarily have to begin on the first day of the year and end on the last.
Xtra gr 12 accounting. Accounting grade 12 senior secondary improvement programme session. 2 teacher notes session 1. Accounting grade 12 session 1.
Income tax provisional tax payments were made as follows. 31 december 2009 r172 000 30 june 2010 r148 000 sars income tax ledger account reflects a credit balance of r20 000 on. You are provided with information relating to samora sports limited. In this live grade 12 accounting show we take a look at the income statement and adjustments.
The period of time that is covered by the income statement and other financial statements is called the accounting period. Accounting grade 12 exam revision.