[kasfi]

I am a beginner, can anybody help me by explaining concept of adjustment?
Also, please help me to prepare a trading account, profit and loss account and balance sheet?
How an I identify opening and closing stock from a trail balance of a financial year?

[rehmanvohra]

Please read Business Accounting 1 by Frank Wood. You will get all your answers. The topic is big enough to be covered in this forum.

Adjustments are needed to comply with matching and accrual principles.

Read the trial balance carefully, especially the accounting year end. Opening stock can be identified from the date given.

Closing stock usually does not appear in trial balance, it is shown as adjustment outside the trial balance.

It can be shown in the trial balance only when the trial balance gives you a figure for cost of goods sold instead of opening stock and purchases as is usually the case.

[JADE05]

Iam new in business and accounting,I have reached the end of the month and my boss wants his revenues and expenses for the month.How do I calculate please?

[morgaine300]

Iam new in business and accounting,I have reached the end of the month and my boss wants his revenues and expenses for the month.How do I calculate please?

We have entire courses in how to do this. Do you expect someone on a forum to be able to explain how to do everything you need to do in order to come up with revenues and expenses for the month?

To be just perfectly blunt, if you don't know how to come up with a basic income statement for the month, why do you have a job in accounting? I'm not trying to be insulting -- I'm dead serious. It basically sounds like you don't know how to do the job and someone on a forum can't tell you how to do your entire job.

Unless of course you're referring to some very specific questions you might have, but you didn't ask a specific question.