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

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What is the difference between reducing balance method depreciation and straight line depreciation?


What is the difference between accounts in balance sheet and income statement


What is depreciation and what are the 2 methods of depreciating non-current assets?


Raya has decided to depreciate her fixed assets. She has a printing press which was worth £500 at cost and is estimated to depreciate in value at 15% a year, Reducing balance method. Calculate the NBV at the end of year 3. Showing your working out.


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