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26.0.0  FINANCIAL STATEMENTS

26.10 SPECIFIC OBJECTIVES

26.20  CONTENT

26.21 Financial Statements

          a) Trading account

          b) Profit and loss account

          c) Trading, profit and loss account

          d) Balance sheet

26.22   Importance of the financial statements

26.23   Concept of trading period

26.24   Preparation of simple financial statements

26.25   Types of capital

          a) Working capital

          b) Borrowed capital

          c) Capital owned

          d) Capital employed

26.26   Calculating  basic financial ratios e.g

          a) Margins and mark-ups

          b) Current ratio/ working capital ratio

          c) Rate of stock turn-over

          d) Return on capital

26.27   Importance of financial ratios

NB: End year adjustments are not required in Topic 26.00