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company account part2 - Coggle Diagram
company account part2
True and fair view
going concern
Accrual basis of accounting
Consistency of presentation
Materiality and aggregation
Offsetting
types of reserves
capital reserves
increases to shareholders’ equity by non-trading activities.
Revenue reserves
realised profits arising from trading activities.
retained profits
general reserve
MFRS 101
Ai) statement of financial position
ii) A statement of profit or loss/comprehensive income
iii)A statement of changes in equity
iv) A statement of cash flows
v) Notes
Debentures
double entry for payment of debenture interest paid by the company to its debenture holders
Dr Debenture interest (an expense in Statement of Profit or Loss) Cr Bank (amount paid)
double entry for debenture interest accrued by the company as outstanding to its debenture holders
Dr. Debenture interest (an expense in Statement of Profit or Loss) Cr. Debenture interest payable (outstanding interest not yet paid)
Dividends
double entry for payment of an interim dividend
Dr. retained earning Cr. bank
The double entry for a proposed final dividend
Dr. Retained earning Cr. proposed dividend