Accounts in financial statements

Pperfecta113y ago

Hi everyone I was wondering if anyone have a website/notes were each item on the statement of profit and loss and statement of financial position is explained. i am looking explanations where it will be clearly stated what ie. goes to other financial assets, retained earnings (as on the statement of financial position) or to distribution costs, other operating costs( as in statement of profit or loss) Really it's a abasic knowledge that I need to know to start study for the F7 exam. Hopefully someone can help! Thanks very much :)

Nnps197613y ago#1

Did you get an exemption from F3? If so, it sounds like you may need to buy an F3 book and work through that first. F7 is fairly tricky, you'll really struggle if you haven't got the basics pinned down first.

Pperfecta113y ago#2

<cite>@nps1976 said:</cite> Did you get an exemption from F3? If so, it sounds like you may need to buy an F3 book and work through that first. F7 is fairly tricky, you'll really struggle if you haven't got the basics pinned down first.

yes I did but I have some knowledge gained during my studies. it was ages ago but I still remember double entry rule, what assets and liabilities are etc. I was rather thinking abotu more detailed things ie. what goes to admin expenses and what to other operating expenses. Do you think that refreshing knowledge with F3 lectures will help or do i still need to get a book?

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