Introduction
In this task I am required to evaluate the value of a set of final accounts to a business. The business
that I will be using is AP Models.
A final account refers to accounting records compiled at the end of the fiscal year for a business,
which include all transactions, changes, revenues, and expenses for that year. The final accounts for
investment firms include the balance sheet and the profit and loss accounts, and contain records of
all business activities for the year.
Key figures in the final account
Different accounts have different key figures. Accounts like the trading account, profit and loss
account and the balance sheet. Different things would fall under each like the Sales, Purchases, Gross
Profit, Net Profit, Creditors, Debtors and many more. All of these are very important to each of the
certain accounts.
AP Models Trading Balance sheet
For the year ended 31st March 2012
£000 £000 £000
Fixed asset
Equipment 15500 2325 13175
Motor Vehicle 3000 600 2400
18500 2925 15575
Current asset
Debtors 150
Bank 560
Cash 250
Closing Stock 7400
8360
Current liabilities
Creditors 1610
Working Capital 6750
22325
Long term liabilities
Bank 10000
12325
Finance by
Capital 16000
Net profit 11325
27325
15000
Drawings
12,325
1
In this task I am required to evaluate the value of a set of final accounts to a business. The business
that I will be using is AP Models.
A final account refers to accounting records compiled at the end of the fiscal year for a business,
which include all transactions, changes, revenues, and expenses for that year. The final accounts for
investment firms include the balance sheet and the profit and loss accounts, and contain records of
all business activities for the year.
Key figures in the final account
Different accounts have different key figures. Accounts like the trading account, profit and loss
account and the balance sheet. Different things would fall under each like the Sales, Purchases, Gross
Profit, Net Profit, Creditors, Debtors and many more. All of these are very important to each of the
certain accounts.
AP Models Trading Balance sheet
For the year ended 31st March 2012
£000 £000 £000
Fixed asset
Equipment 15500 2325 13175
Motor Vehicle 3000 600 2400
18500 2925 15575
Current asset
Debtors 150
Bank 560
Cash 250
Closing Stock 7400
8360
Current liabilities
Creditors 1610
Working Capital 6750
22325
Long term liabilities
Bank 10000
12325
Finance by
Capital 16000
Net profit 11325
27325
15000
Drawings
12,325
1
