SOFP

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September 6, 2022 at 9:33 pm #665474
Anonymous
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You said in lecture that the SOFP of companies will affect our ‘capital section’ from SOFP of sole traders.

This is the SOFP of sole trader:
Capital @ start of the year
Add: Profit for the year
Less: Drawings by owner

Please explain how does this change in SOFP of companies / LLC?

Thanks 🙂
September 7, 2022 at 8:52 am #665537
John Moffat
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This is explained in the later lectures on limited companies.
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