SubjectPaid lesson
End of Year Adjustments in Profit and Loss Account
CT
ClassNotes Team 4 MIN READUPDATED 7 JUL 2026Financial Accounting SSS1 Third Term
WEEK 3
End of Year Adjustments in Profit and Loss Account
Performance Objectives
- Understanding the End of the Year Adjustment in Profit and Loss Accounts
- Reasons for the End of the Year Adjustment
Content
These are adjustment which is made in the profit and loss account and balance sheet, this will ensure that the final accounts of an organization show the true view of their transaction, they are closing adjustment or amendment made in the book at the end of the accounting period in order to match revenue with expenses. this will show an accurate picture of the accounts. they are shown as additional information after the trial balance.
The Profit and Loss…