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help with trading profit and loss acc OL
by colmk Junior Cert Business Studies — 28/05/16 8

i just cant do them.. im unstoppable if it comes to club accounts but tp&l i cant understand.. HAALLLPPP PLZ!


8 Comments
Ruairí — 26/05/16
Colm you can't do them because we have a terrible teacher and I find the trading profit and loss a/c's hard also.
Ruairí — 26/05/16
and i'm in higher level
joecole — 26/05/16
I hope this helps... (Start of formula) 1. Sales (find it in the question) 2.Cost of sales: (Memory Aid: OPICCC) Opening Stock Purchase Import Duties Carriage inwards Cost of goods available for sale (Less) Closing Stock
joecole — 26/05/16
Cost of goods sold Gross Profit (Sales minus cost of goods sold) 3.Less Expenditure You'll just have to learn off all the expenses unfortunately! Net Profit (Gross Profit minus total expense Less Dividends Reserves
colmk — 27/05/16
Thank you �� Ill try some over the weekend and see if it helps ����
ArahKa — 27/05/16
personally im really bad at them i did all the questions but half did the tp&l my advice is do all the questions you can you get marked for your best 3 or 4 if you have time to spare give tp&l a go with half doing that question and doing all the questions i got a B��
caylump2 — 27/05/16
They are really hard if the teacher doesn't explain properly from the start
sebin — 28/05/16
colm u only have to do anaslyed cash book if ur in ol for that type of question
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