DFS question

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Esme
Esme Registered Posts: 711 Epic contributor 🐘
I'm trying to do my first assignment and it's been a while since I did FRA so my memory is blanking me on Income Statements and Balance Sheets.

Can someone tell me which financial statment the following appear on please.

Discounts received/allowed
Director's remuneration
Carriage in

Also, is there any easy way to remember what goes where??

Thanks in advance,

Esme

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  • jilt
    jilt Registered Posts: 2,903 Beyond epic contributor 🧙‍♂️
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    All income and expenditure items go on the income statement, everything else on the statement of financial position (previously known as balance sheet)

    keep at it Esme, you'll get there, I know how you feel, I sat DFS in December but sat FRA in June 2007!
  • Esme
    Esme Registered Posts: 711 Epic contributor 🐘
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    Thanks Jilt,

    So what is Director's remuneration?
  • jilt
    jilt Registered Posts: 2,903 Beyond epic contributor 🧙‍♂️
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    Directors remunerations can include wages, pension contributions, benefits in kind, etc and are charged to the income statement.
  • Esme
    Esme Registered Posts: 711 Epic contributor 🐘
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    Ok great,

    thank you very much! :)
  • jilt
    jilt Registered Posts: 2,903 Beyond epic contributor 🧙‍♂️
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    Your welcome. What's the weather like in Norfolk?
  • Esme
    Esme Registered Posts: 711 Epic contributor 🐘
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    We haven't had any snow since Saturday, so the floor is still very slippery.
    Today is just dark and foggy.. hope about in Yorkshire?
  • jilt
    jilt Registered Posts: 2,903 Beyond epic contributor 🧙‍♂️
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    We woke up to the big freeze, side roads that aren't still covered in snow were covered with black ice, main ring road to work was closed this morning due to an accident so swapped my day to Friday (I work 3 days for my employer and the rest for myself so comes in handy).

    Good luck with your studies :001_smile:
  • Esme
    Esme Registered Posts: 711 Epic contributor 🐘
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    Thanks.. you too! :)
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