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Need help on page 106 no 340 portable garage pro in bpp revision kit

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA PM Exams › Need help on page 106 no 340 portable garage pro in bpp revision kit

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by John Moffat.
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  • May 23, 2020 at 10:33 pm #571694
    farhaanm
    Participant
    • Topics: 165
    • Replies: 73
    • ☆☆☆

    I looked at the answer at the back for part a and it seems that a profit statement has a proforma but was this covered in the lectures if so where.

    May 24, 2020 at 11:59 am #571736
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54659
    • ☆☆☆☆☆

    There is no pro-forma because there is no standard layout – how you lay out a statement showing the profit is up to you, there are no rules.

    In financial accounts then there are rules as you will remember from Paper FA (or whatever exempted you), but as you should also remember from Paper MA (or again whatever exempted you) there are no rules as to the layout of management accounts.

    Obviously the profit is calculated as the revenue less all the costs, but how you actually show it as a statement is up to you.

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