Fixed Assets
,Fixed Assets
INCOME STATEMENT ........................................................................................................................................................................................................... 3
BALANCE SHEET .................................................................................................................................................................................................................. 4
Fixed Assets.......................................................................................................................................................................................................................... 8
Asset disposal ............................................................................................................................................................................................................... 8
Theory and Formats..................................................................................................................................................................................................... 9
CASH FLOW STATEMENT ....................................................................................................................................................................................................11
ANALYSIS AND INTERPRETATION .................................................................................................................................................................................... 13
Theory and Formats................................................................................................................................................................................................... 13
PAST PAPER THEORY.................................................................................................................................................................................................. 17
SHARES ............................................................................................................................................................................................................................... 21
PAST PAPER THEORY.................................................................................................................................................................................................. 21
DIVIDENDS ..........................................................................................................................................................................................................................25
PAST PAPER THEORY..................................................................................................................................................................................................25
COMPANY THEORY............................................................................................................................................................................................................. 27
Theory and Formats................................................................................................................................................................................................... 27
DIRECTOR MANAGEMENT ................................................................................................................................................................................................. 34
PAST PAPER THEORY.................................................................................................................................................................................................. 34
STOCK ..................................................................................................................................................................................................................................46
EXTRAS ................................................................................................................................................................................................................................48
,Income statement & Balance Sheet
INCOME STATEMENT
INCOME STATEMENT
Sales/ Turnover (Sales - Debtors' Allowance- Selling Price of Returns)
Cost of sales (cost price of returns) ()
Gross profit
Other operating income
Discount Received
Rental income
Profit on sale of asset
Bad debts collected
Provision for bad debts collected (decrease)
Trading stock surplus
Etc.
Gross operating income
Operating expenses ()
Salaries and wages (gross + contributions)
Auditor's fee
Director's remuneration
Depreciation
Diverse expenses
Loss due to asset sale
Loss due to Fire/Theft/ etc.
Etc.
Operating profit
Interest income 1
Profit before interest expense
Interest expense / financing costs 2 ()
Profit before tax
Income tax (actual amount) ()
Net profit after tax
*Income tax > provisional tax = SARS debt (liability)
*Income tax < provisional tax = SARS owes us (asset)
, Income statement & Balance Sheet
BALANCE SHEET
BALANCE SHEET
ASSETS
NON-OPERATIONAL ASSETS
Fixed Assets / Property, Plant and Equipment 3
Fixed Deposit (Balance – Expiring Fixed Deposit)
OPERATING ASSETS
Stock 4
Trade and other Debtors/ Receivables 5
Cash and Cash Equivalents 6
Total Assets
EQUITY AND LIABILITIES
SHAREHOLDER INTEREST / CAPITAL AND RESERVES
Ordinary Share Capital 7
Retained Income 8
NON-OPERATIONAL EXPENSES
Loan (Balance + Capitalized Interest – Installment - Short-Term Loan
OPERATING CHARGES
Trade and other Creditors 9
Short-term loan (due within 12 months)
Bank Overdraft
Total Equity and Liabilities
1) INTEREST INCOME
Interest on Investments/Fixed Deposits
Interest on Savings Account
Interest on Overdue Account of Debtors
Interest on Current Account
,Fixed Assets
INCOME STATEMENT ........................................................................................................................................................................................................... 3
BALANCE SHEET .................................................................................................................................................................................................................. 4
Fixed Assets.......................................................................................................................................................................................................................... 8
Asset disposal ............................................................................................................................................................................................................... 8
Theory and Formats..................................................................................................................................................................................................... 9
CASH FLOW STATEMENT ....................................................................................................................................................................................................11
ANALYSIS AND INTERPRETATION .................................................................................................................................................................................... 13
Theory and Formats................................................................................................................................................................................................... 13
PAST PAPER THEORY.................................................................................................................................................................................................. 17
SHARES ............................................................................................................................................................................................................................... 21
PAST PAPER THEORY.................................................................................................................................................................................................. 21
DIVIDENDS ..........................................................................................................................................................................................................................25
PAST PAPER THEORY..................................................................................................................................................................................................25
COMPANY THEORY............................................................................................................................................................................................................. 27
Theory and Formats................................................................................................................................................................................................... 27
DIRECTOR MANAGEMENT ................................................................................................................................................................................................. 34
PAST PAPER THEORY.................................................................................................................................................................................................. 34
STOCK ..................................................................................................................................................................................................................................46
EXTRAS ................................................................................................................................................................................................................................48
,Income statement & Balance Sheet
INCOME STATEMENT
INCOME STATEMENT
Sales/ Turnover (Sales - Debtors' Allowance- Selling Price of Returns)
Cost of sales (cost price of returns) ()
Gross profit
Other operating income
Discount Received
Rental income
Profit on sale of asset
Bad debts collected
Provision for bad debts collected (decrease)
Trading stock surplus
Etc.
Gross operating income
Operating expenses ()
Salaries and wages (gross + contributions)
Auditor's fee
Director's remuneration
Depreciation
Diverse expenses
Loss due to asset sale
Loss due to Fire/Theft/ etc.
Etc.
Operating profit
Interest income 1
Profit before interest expense
Interest expense / financing costs 2 ()
Profit before tax
Income tax (actual amount) ()
Net profit after tax
*Income tax > provisional tax = SARS debt (liability)
*Income tax < provisional tax = SARS owes us (asset)
, Income statement & Balance Sheet
BALANCE SHEET
BALANCE SHEET
ASSETS
NON-OPERATIONAL ASSETS
Fixed Assets / Property, Plant and Equipment 3
Fixed Deposit (Balance – Expiring Fixed Deposit)
OPERATING ASSETS
Stock 4
Trade and other Debtors/ Receivables 5
Cash and Cash Equivalents 6
Total Assets
EQUITY AND LIABILITIES
SHAREHOLDER INTEREST / CAPITAL AND RESERVES
Ordinary Share Capital 7
Retained Income 8
NON-OPERATIONAL EXPENSES
Loan (Balance + Capitalized Interest – Installment - Short-Term Loan
OPERATING CHARGES
Trade and other Creditors 9
Short-term loan (due within 12 months)
Bank Overdraft
Total Equity and Liabilities
1) INTEREST INCOME
Interest on Investments/Fixed Deposits
Interest on Savings Account
Interest on Overdue Account of Debtors
Interest on Current Account
