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BA4008QA Business Decision Making Assignment Samples

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Introduction - Business Decision Making

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1. Profit and loss statement and Balance sheet:

Trading and P&L account

Particular

Amount

Particular

Amount

To opening stock

18310

By sales

290500

To purchase

157443

By closing stock

25550

To gross profit

140297

316050

316050

To advertisement

5478

By gorss profit

140297

To insurance

9306

Less: prepaid 

-850

8456

To rent and rates

18612

Less: prepaid

-4482

14130

To heating & Lighting

11013

Add:

2210

13223

To delivery cost

10132

Add:

905

11037

To salary & wages

41263

To depreciation

12584

Add: current year

10440

23024

Net profit

23686

140297

140297

(Teubner, 2012)

Balance sheet

Liabilities

Amount

Amount

Assets

Amount

Capital

170600

Furniture

153227

Add: Profit

23686

less: Depreciation

-66710

less: drawings

-31288

162998

less: Current year

-12584

73933

Trade payable

31511

Motor vehicle

182600

Outstanding Expenses

3115

less: Depreciation

-93500

Bank overdraft

17900

less: Current year

-10440

78660

Closing stock

25550

Trade receivables

31099

Prepaid

5332

cash in hand

950

Total

215524

Total

215524

2. Limitations of P&L and balance sheet:

P&L limitation:

  • Accounting principle: According to the accounting principle the p&l revenue should be matched with the expenses but it is difficult to match.
  • Fiscal Calendars: Companies compare the profit and loss accounts with other companies so that follow the fiscal calendar is difficult.
  • It explains only profit situation not valuate the assets and liabilities of the company(Teubner, 2012).

Balance sheet limitation:

  • Balance sheet prepared by the historical number basis.
  • It work on the estimates.
  • In the balance sheet Non- monetary assets are also included (Wouters et al, 2013).

Reference:

Teubner, G., (2012). Concepts, aspects, limits, solutions. Juridification of Social Spheres: A Comparative Analysis in the Areas ob Labor, Corporate, Antitrust and Social Welfare Law6, p.3.

Wouters, B., Bamber, J.L., Van den Broeke, M.R., Lenaerts, J.T.M. and Sasgen, I., (2013). Limits in detecting acceleration of ice sheet mass loss due to climate variability. Nature 

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