{"id":32208,"date":"2017-06-15T11:00:37","date_gmt":"2017-06-15T03:00:37","guid":{"rendered":"https:\/\/zahiraccounting.com\/en-my\/?p=32208"},"modified":"2017-06-14T16:07:07","modified_gmt":"2017-06-14T08:07:07","slug":"simple-easy-financial-statement-trading-company","status":"publish","type":"post","link":"https:\/\/zahiraccounting.com\/en-my\/32208-simple-easy-financial-statement-trading-company.html","title":{"rendered":"Simple and Easy Financial Statement for Trading Company"},"content":{"rendered":"

\"Simple<\/a><\/p>\n

Before making the financial statement for trading company, it is necessary to learn about the accounting cycle first. Starting with the source document ( purchase receipt\/ payment and sales) then the next process is making journal, ledgers, and worksheet.<\/p>\n

Then, we can then prepare a financial statement for our businesses. The financial statements among service companies, trade and manufacturing, generally similar. The difference is the detail calculation and the accounts used. For example, in a service company there is no inventory account, but inventory account will be found on the trading company. In the trading company there is no raw material (raw material), but we can find in the report of the financial sustainability of manufacturing companies, etc.<\/p>\n

In general, the financial statements for trading company consists of income statement, balance sheet, owner’s equity statement, cash flow statement and notes to the financial statements. The profit \/ loss statement provides information for the user to find out the amount of profit \/ loss that occurs in certain period (usually monthly). Trading companies have the characteristic of purchasing inventory for resale. This is very different from the service company, on the type of business there is no inventory<\/p>\n

After finding out the numbers in the profit \/ loss report, then we can arrange the balance sheet company. \u00a0In preparing the company’s balance sheet we need a net profit \/ loss from the profit \/ loss statement, which is used in the capital (equity) column.<\/p>\n

The formula in preparing the balance sheet is Asset = Debt + Capital, means that between the left column (assets) on the balance sheet must be exactly the same as the right column (asset + capital). \u00a0This is because in preparing previous financial statements there are balanced general journals. So if between the left and right columns of the balance sheet are not exactly the same, the balance sheet is absolutely wrong.<\/p>\n

Next, in the financial statement in owner\u2019s equity report. This report shows the position of the owner’s capital movement within a certain period of time. Therefore the financiers will recognize the capital position used by the company.<\/p>\n

Unlike the owner’s equity statement, they are also called cash flow statements. The cash flow statement informs the company’s cash flows that occur within a certain period.<\/p>\n

The last is a note on the financial statements. Notes to the Financial Statements are additional records or information added to the end of the financial statements to provide additional explanations to the readers in detailed information. Notes to the Financial Statements may also help to explain certain account calculations in the financial statements and provide a more comprehensive assessment of the company’s financial condition. Notes to the Financial Statements may contain debt, business continuity, accounts receivable, contingent liabilities, or contextual information to explain certain financial figures.<\/p>\n","protected":false},"excerpt":{"rendered":"

Before making the financial statement for trading company, it is necessary to learn about the accounting cycle first. 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