Cambridge AS & A Level Accounting
1.5.1Adjustments to draft financial statements
Adjustments to draft financial statements in Cambridge AS & A Level Accounting: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic68 practice questions3 lessons
Learning objectives
What the syllabus expects you to be able to do.
- 1.5.1.1Calculate and record adjustments for accruals and prepayments of income and expenses, irrecoverable debts, debts recovered and allowances for irrecoverable debts.
- 1.5.1.2Calculate and record adjustments for depreciation, inventory valuation and correction of errors and show their effect on the statements.
Lessons
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Accruals and prepayments of expenses and income in the ledger
50 min
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Irrecoverable (bad) debts, recoveries and allowances for doubtful debts
50 min
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Year-end adjustments to the draft financial statements
55 min
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Sample question
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