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Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams
Thank you!
You are welcome 馃檪
Kindly could you elaborate more on reserves? You explained that it is anything extra owed to shareholders over the the share capital and retained earnings are among them. But in the SOFP layout (para 5) for limited company, one can see “Capital reserves” and “Revenue reserves”. Thus, which extra owings to owners fall to the first and which ones to the second?
Kind regards
This is just one of six lectures on this chapter. Watch the following lectures and you will see that I explain the distinction between capital and revenue reserves in detail. I cannot explain everything at once!!!
Sir, example of Alex and Bertha are missing from the notes.
You need to download the new set of lecture notes – they were uploaded just a few weeks ago and the example is in them 馃檪
sorry i have to come back here though i have passed this paper as i intend to write paper f7, I forgot if we have to show drawing on sole traders SOFP. I presume yes but just want to be sure again.
Good Lecture.
Thank you 馃檪