UNIT 1-Accounts from Incomplete Records

Introduction
1.Meaning of incomplete records
2.Features of incomplete records
3.Limitations of incomplete Records
4.Difference between double entry system and incomplete records
5.Ascertaining profit or loss from incomplete records through statement of affairs
6.Calculation of Profit or loss through statement of affairs
7.Steps to be followed to fine out the profit or loss by preparing statement of affairs
8.Statement of affairs
9.Format of statement of affairs
10.Difference between statement of affairs and balance sheet
11.Preparation of final accounts from incomplete records
12.Steps to be followed to prepare final accounts from incomplete records
Format of total debtors account
Format of Bills Receivables account
Format of total creditors account
Format of Bill Payable account