What are the three main elements of Financial Accounts?

  1. Income Statement (Profit or Loss Account)2) Balance Sheet (Statement of Financial Position3) Statement of Cash flows
AP

Related Accounting A Level answers

All answers ▸

What is Accounting Based on?


What is depreciation? Why is its calculation necessary? Give an example of straight line depreciation.


“Provision for depreciation is made to provide funds for replacement of a fixed assest” discuss this statement (6 marks)


What is a liquidity ratio?