Chapter 17 PREPARATION OF FINANCIAL STATEMENTS FOR SOLE TRADERS Learning Objectives Preparation of final accounts Preparation of final accounts Final accounts You have now revised all areas necessary to prepare the final accounts of a sole trader Areas you should be totally familiar with are as follows •Ledger accounts •Trial balance •Format of income statement and statement of financial position Preparation of final accounts In addition, you should be able to deal with the following adjustments: •Depreciation •Inventory •Accruals and prepayments •Irrecoverable debts •Allowance for receivables •Profit/loss disposal of non-current assets ...Learning Objectives Preparation of final accounts Preparation of final accounts Final accounts You have now revised all areas necessary to prepare the final accounts of a sole trader Areas you... familiar with are as follows •Ledger accounts •Trial balance •Format of income statement and statement of financial position Preparation of final accounts In addition, you should be able to deal... •Depreciation •Inventory •Accruals and prepayments •Irrecoverable debts •Allowance for receivables •Profit/loss disposal of non-current assets