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Financial Statements (Modern Method) || Class 12 Account || Single Step Income Statement – Gurubaa
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Regarding the coming NEB exams, we have covered this video for class 12 Account from the chapter titled Financial Statement (Modern Methods). Here, we have explained the general format of single step income statement. In the coming days, we will cover the remaining videos from this chapter which include multi-step income statement and balance sheet.
The financial statements have the following features: expressed in terms of monetary value, based on recorded facts, historical in nature, personal judgements and fixed time period. There are also limitation of financial statements like t provide quantitative data only, summarized reports, chances of biasness, based on past data and no adjustment of price level.
The major components of financial statements are Income statement, balance sheet, statement of retained earnings, statement of changes in shareholdersтАЩ equity and cash flow statement.
This video clearly explains the format of single step income statement. It is calculated simply with the difference between total revenue (a) and total expenses (b). Total revenue (a) is calculated by the sum of sales revenue and other income. Similarly, total expenses (b) are determined by adding cost of goods, sold, office expenses, factory expenses, selling and distribution expenses and other expenses and losses. Finally, we calculate profit before tax by using the simple formula (a) тАУ (b). Now, we subtract it with provision for tax and finally net income (profit or loss) after tax is evaluated.
#Financialstatementclass12 #Class12account
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Most Parents Accidentally Teach Their Kids Financial Fear #consciousparenting
Most parents unknowingly teach their kids financial fear.
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Lord, Why Do They Win While I Stay Defeated? Financial Breakthrough Prayer | Morning Prayer
You kept your integrity. So why are you still standing at the starting line? This financial breakthrough prayer helps your declare divine provision. Today, we stop pretending it doesnтАЩt hurt and we ask for a Restitution of Order. This is a spiritual decree for those tired of being “almost” successful. Listen to this morning prayer as soon as your feet hit the floor or on your daily commute, come back to it anytime you need a prayer to uplift you.
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ЁЯУЦ Matthew 18:20 | James 5:16 | Philippians 4:6
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General Disclaimer:
The content on Jesus Prayer Today is for spiritual, inspirational, and educational purposes only. Our prayers and declarations are intended to encourage and are not a substitute for professional medical advice, diagnosis, treatment, or financial and legal counseling. Always seek the advice of your physician or other qualified health providers with any questions you may have regarding a medical condition or financial situation. Never disregard professional advice because of something you have heard on this channel.
Content Disclaimer:
This video uses an AI-generated voiceover. All prayer scripts are original and written for Jesus Prayer Today.
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Tekashi 6ix9ine uses his haters to make easy money #vladtv #money #attentioneconomy
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