BALANCE SHEET

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
DOES ANYONE HAVE ANY TIPS ON REMEMBERING HOW TO SET OUT THE BALANCE SHEET AND WHAT INFORMATION FROM THE TRIAL BALANCE GOES ONTO IT<BR>THANK YOU<BR>LORI

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    BALANCE SHEET

    Morning<BR><BR>I can't help with the layout but if you remember that the Balance Sheet contains all the "open" accounts from the trial balance - assets, debtors, creditors, bank account, cash - these are the accounts that go onto the next year<BR><BR>The T, P&L account contains all the "costs" you incurred from the previous year<BR><BR>With regards the layout, just remember - <BR><BR>Fixed Assets<BR>Current Assets<BR>Current Liabilities<BR>Long Term Liabilities<BR><BR>Hope this helps<BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    BALANCE SHEET

    Just remember all Income, Costs and expenses (ICE) go onto the Trading, profit and loss. Therefore the rest go onto the balance sheet.

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