All Leaving Cert Accounting posts
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    Learning layouts tega.dortie

    I'm finding it really difficult to learn the layouts anyone have any advice?

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      layouts for what topic?

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      the final accounts

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      if youre in 5th year dont worry about it, its all practice.. the more accounts you do the more familiar you get with where everything goes.. in terms of final accounts, the only layout youll need to 'learn' is the manufacturing account.. and the only way of doing that is getting an empty template from your teacher for example and then a few worked solutions incl. workings.. then as you do more different accounts other workings will crop up which you should put into a notes copy and state where its goes.. say you had depreciation on builidings; that would go into admin expenses in the p&l and tangible fixed assets in the balance sheet.. so do that for everything as you come across it so you learn as you go along.. accounting is just about practice, theres no shortcuts tbh, coming from a 6th year who struggled through 5th year and it clicked this year from workinng at it.. you should also remember that admin expenses tends to contain things directly related to the running of the business as opposed to expenses that occured as a result of trading! so patents written off, directors fees, salaries and gen expenses and the like are admin, while depreciation on vehicles, loss on sale of vehicles etc are selling and distribution expenses.. it seems confusing now but it gets easier!

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      yeah I'm in 6th year thanks for the advice I'm just going to have to practice the layouts

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