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Format of Financial Statements

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NURSYUHADA BINTI MOHD TAIB
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27 views

Format of Financial Statements

Uploaded by

NURSYUHADA BINTI MOHD TAIB
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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FORMAT OF FINANCIAL STATEMENTS (VERTICAL FORMAT)

Name of Business
Statement of Profit or Loss for the year ended …………………………………………( eg 31 December 20XX)
RM RM RM
Sales XX
Less: Sales returns/Return inwards (XX)
Sales discount/Discount allowed (XX)
Net Sales XXX

Less: Cost of Goods Sold


Opening inventory XX
Purchases XX
Less: Purchase returns/ Return outwards (XX)
Purchase discounts/Discount received (XX)
Net Purchases XXX
Add: Expenses on purchases
Carriage inwards XX
Duty on purchases XX
Insurance on purchase XX
Cost of goods purchased XX
Cost of goods available for sale XX
Less: Closing inventory (XX)
Cost of goods sold (XXX)
Gross Profit or (Loss) XXX

Add: Other Revenues (Hasil)

Rent received XX
Commission received XX
Interest received XX
Decrease in Doubtful Debt XX
XXX
Less: Operating Expenses (Perbelanjaan)
Salary and wages XX
Insurance XX
Rent expenses XX
Interest expenses XX
Carriage outwards XX
Depreciation XX
Increase in Doubtful Debt XX
(XXX)
Net Profit or (Loss) XXX

1
Name of Business
Statement of Financial Position as at ……………………………………….. (eg 31 December 20XX)
RM RM RM
Non-Current Assets Cost Accumulated Carrying
depreciation value
Land and Building XX (XX) XX
Motor Vehicles XX (XX) XX
Office Equipment XX (XX) XX
Machinery XX (XX) XX
Fixtures and Fittings XX (XX) XX
XXX
Intangible Assets
Goodwill XX
Patent XX
Trademark XX
Franchise XX

Investment / Fixed deposit XX


XXX
Current Assets
Closing inventory XX
Accounts Receivable / Debtors XX
Less: Allowance for Doubtful Debts (XX)
XX
Cash at Bank / Bank A/C XX
Cash in Hand / Cash A/C XX
Prepaid expenses XX
Accrued revenues XX
XXX
TOTAL ASSETS XXXX (*)
Financed by :
Owner’s Equity
Capital beginning XX
Add: Net Profit (Loss) XX
Less: Drawings (XX)
XX

Non Current Liabilities


Long Term Loan XX
Mortgage on Premises XX
XX
Current Liabilities
Bank overdraft XX
Accounts Payable / Creditors XX
Accrued expenses XX
Prepaid revenues XX
XX
TOTAL EQUITY AND LIABILITIES XXXX (*)
Note: (*) Must be the same

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