Off Belay forum

View latest messages in My Forums
This topic has been archived, and won't accept reply postings.

Topic - Quick one for the accountants?

gcandlin - on 20 Nov 2012
Trying to get my head arround Balance sheets and profit and loss accounts. Did some at Uni but struggling to remember....

Can anyone help with the following question.

I am a manufacturer in my first year of business so when I come to do my P&L account I presume I put opening stock at 0, purchases at what ever I spent on raw materials, but what about closing stock? As I manufacture the goods from raw materials to order, do I calculate how many items I could manufacture from those raw materials I have in stock and then put the retail value of those item combined? For example if I had enough fabric left to make 10 chalk bags, do I put my closing stock as the value of those 10 chalk bags?

Hope someone can assist as a day googling has boggled my brain.

... not showing 6 replies to this topic ...
Register as a New User or login to gain full access to the forums. Registration is quick and completely free.
If you are definitely logged on, press Ctrl+F5 keys to reload this page [read more]

Unregistered users can only read messages in the most recent topics.

This topic has been archived, and won't accept reply postings.

My Forums