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The Statement of Financial Position and Income Statement (part a) – ACCA Financial Accounting (FA) lectures

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  3. Dear sir,
    I’m not sure what the capital is, why is it listed on owe’s side? I searched it on google and it said the capital can be any financial assets that is used. If it belongs to assets, it should be on own’s side.

    • Capital is money invested in the business (by the owner in the case of a sole trader, and by shareholders and long term borrowings in the case of a limited company). (Capital assets is another term for non-current assets.)

      All of this is explained in our free lectures. The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well.

  12. Why Is it that when we partially pay a payable the profit does not change and instead the cash position changes, but when we pay electricity the profit goes down? Are they not the same? Both an expense in running the business? or is it something to do with direct and indirect costs? Thanks in advance

    • The expense against the profit is the expense for the period in question regardless of whether or not it was paid during the period (or whether it was still owing at the end of the period and therefore paid in the next period).

      If we use $100 worth of electricity this month, then it is an expense in this month even if it is not paid for until next month.

  13. Thank you for your support… really understand it well…Thanks Open Tuition…asking if I do FFA,FBT and FMA will I get certificate…and when is the deadline for this syllabus exam…

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