Udemy
    •  
    •  
    •  
    •  
    •  
    •  
    •  
    •  
Subscribe
Turn what you know into an opportunity and reach millions around the world.
Learn More
Your cart is empty.
Keep shopping
Accounting for sole trader
Rating: 4.6 out of 5(7 ratings)
677 students

Accounting for sole trader

Learn how to prepare sole trader final accounts
Created byMd Ilias Rubel FCCA, MBA
Last updated 6/2024
English
English [Auto],

What you'll learn

  • Income statement/SPL Proforma
  • Balance sheet/SOFP proforma
  • Examples of income statements and Balance sheet (SPL/SOFP)
  • Practice of SPL and SOFP
  • COGS in Trial balance
  • Test your learning

Course content

1 section • 6 lectures • 1h 23m total length

  • SPL/Income statement proforma8:08

    Explore how to prepare the SPL and SFP for a sole trader, using a proforma layout to calculate cost of goods sold, gross profit, and final profit.

  • Balance sheet/SOFP proforma7:55

    Learn how to construct a balance sheet proforma by classifying assets (non-current and current), accounting for depreciation, calculating net current assets and net assets, and balancing to capital.

  • Examples of SPL & SOFP14:51

    Learn how sole traders convert a trial balance into a profit and loss statement and financial position. Classify items under headings, apply inventories, depreciation, accruals, and other income and expenses.

  • Further practice of SPL and SOFP29:18

    Practice preparing final accounts for a sole trader, including SPL and SOFP from trial balances and proformas, with calculations of sales revenue, purchases, and COGS.

  • COGS in Trial balance1:16

    Compute cost of goods sold in the trial balance by opening inventory plus purchases minus purchase return minus closing inventory, noting closing inventory is current asset affecting profit or loss.

  • Test your learning22:15

    Test your understanding of sole trader accounting with questions on current assets and liabilities, capital, carrying amounts, depreciation methods, and preparing the profit and loss and statement of financial position.

Requirements

  • Prior knowledge of bookkeeping is desirable
  • access to internet

Description

Learn about income statement/statement of profit & loss, Balance sheet/Statement of financial position of Sole trader from this online course , get a certificate at the end of the course, boost your CV & exam confidence. Free accounting course included.

This course is will help you to pass AAT level 2 & 3, CAT, ACCA, AQA A level & IGCSE accounting exam as well as other professional & academic exams.

The course is developed with years of research , guided by a Chartered Accountant & experienced UK lecturer.

You may claim CPD hours after course completion.


"Your tutor is here to help mastering Financial statements of sole trader"

Master your Income statement & Balance sheet knowledge with the help of expert tutor on demand. Watch our tutorials from your classroom at your own flexibility, practice & gain exam confidence.


Quality education at an affordable price.

A must do course for AQA A level/IGCSE Accounting, AAT,ACCA, FIA, CIMA,ICAEW & University 1st year Accounting students


Career path

Helps in working as:

  • Finance officer

  • Bookkeeper

  • Junior accountant

  • Trainee accountant

  • AAT students to chartered


Who is this course for?

  • IGCSE/ O level students

  • A level students (AQA, OCR,CAIE,EDEXCEL accounting)

  • AAT level 2 & 3

  • Bookkeepers

  • Job seeker in accounting & bookkeeping

  • HND, HNC & other university accounting 1st year students

  • Financial accountants

  • A sole trader wants to know how accounts are made

Who this course is for:

  • IGCSE/ O level students
  • A level students (AQA, OCR,CAIE,EDEXCEL accounting)
  • Job seeker in accounting & bookkeeping
  • AAT level 2 & 3
  • HND, HNC & other university accounting 1st year students
  • A sole trader wants to know how accounts are made
  • Bookkeepers

Report abuse