1 3 Sole trader fiacial statemets this chapter covers... I this chapter we look at preparig the year ed fiacial statemets of sole traders (that is, oe perso ruig their ow busiess). We preset the fiacial statemets statemet of profit or loss ad statemet of fiacial positio usig the covetioal format. This chapter shows how the fiacial statemets are adjusted to preset a more relevat ad faithful represetatio of profit, ad assets ad liabilities eable comparisos to be made with fiacial statemets from previous years eable users of fiacial statemets to uderstad ad be assured of the iformatio give The chapter cotiues with covetioal format fiacial statemets by brigig together ito a trial balace the adjustmets for: closig ivetory accruals ad prepaymets depreciatio of o-curret assets irrecoverable debts allowace for doubtful debts We the see how these adjustmets are icorporated ito the covetioal format fiacial statemets.
2 s o l e t r a d e r f i a c i a l s t a t e m e t s 5 3 s o l e t r a d e r s Sole traders are people who ru their ow busiesses: they ru shops, factories, farms, garages, local frachises, etc. The busiesses are geerally small because the ower usually has a limited amout of capital. Profits are ofte small ad, after the ower has take out drawigs, are usually ploughed back ito the busiess. a d v a t a g e s a d d i s a d v a t a g e s Sole trader busiesses are cheap ad easy to set up; the advatages are: the ower has idepedece ad ca ru the busiess, ofte without the eed to cosult others i a small busiess with few, if ay, employees, persoal service ad supervisio by the ower are available at all times the busiess is easy to establish legally either usig the ower s ame, or a tradig ame such as The Fashio Shop or Wyver Plumbers The disadvatages are: the ower has ulimited liability for the debts of the busiess this meas that if the sole trader should become isolvet, the ower s persoal assets may be used to pay busiess debts expasio is limited because it ca oly be achieved by the ower ploughig back profits, or by borrowig from a leder such as a bak the ower usually has to work log hours ad it may be difficult to fid time to take holidays; if the ower should become ill the work of the busiess will either slow dow or stop altogether F I N a N c I a l s tat e m e N t s o F a s o l e t r a d e r The fiacial statemets (fial accouts) of a sole trader comprise: statemet of profit or loss statemet of fiacial positio Such fiacial statemets are produced aually at the ed of the fiacial year (which ca ed at ay date it does t have to be the caledar year). The fiacial statemets ca be produced more ofte i order to give iformatio to the sole trader o how the busiess is progressig.
3 5 4 f i a l a c c o u t s f o r s o l e t r a d e r s a d p a r t e r s h i p s t u t o r i a l F I N a N c I a l s tat e m e N t s : t h e a d j u s t m e N t s May Activities ad Assessmets focus o aspects of the preparatio of fiacial statemets i the covetioal format used by accoutats. For example, you may be asked to prepare some, or all, of a statemet of profit or loss ad statemet of fiacial positio. There may be a umber of adjustmets icorporated ito the year ed fiacial statemets. The diagram o the ext page summarises the year ed adjustmets ad their effect o the fiacial statemets. The adjustmets are made i order to: preset a more relevat ad faithful represetatio of profit, ad assets ad liabilities eable comparisos to be made with fiacial statemets from previous years eable users of fiacial statemets to uderstad ad be assured of the iformatio give The Case Study o page 56 brigs together all of these adjustmets. Although i total the Case Study is more complex tha would be required i a Assessmet, it does provide a useful referece poit which shows the adjustmets icorporated ito the fiacial statemets of a sole trader. The Activities at the ed of this chapter are based o the preparatio of fiacial statemets from a trial balace ad provide practice to help with your studies i preparig covetioal format fiacial statemets. Note that i AAT Assessmets: you will always be give a balacig trial balace which icorporates the adjustmets you will be give a outlie pro-forma of the fiacial statemets together with a list of pro-forma ames to use some adaptatio of the pro-forma ames may be eeded eg iterest paid may eed to be show as fiace costs ad some accouts may eed to be combied eg cash + bak = cash ad cash equivalets some trial balace accouts may eed traslatio to the pro-forma ames eg purchases ledger cotrol accouts to be show as trade payables some accout balaces could appear o either side of the trial balace eg VAT, loas, bak ad eed to be treated correctly i the fiacial statemet pro-forma
4 s o l e t r a d e r f i a c i a l s t a t e m e t s 5 5 summary of Year end adjustments For FINaNcIal statements adjustment statement of ProFIt or loss statement of FINaNcIal PosItIoN closig ivetory deduct from purchases curret asset accrual of expeses add to expese curret liability prepaymet of expeses deduct from expese curret asset accrual of icome add to icome curret asset prepaymet of icome deduct from icome curret liability depreciatio charge/ accumulated depreciatio of o-curret assets depreciatio charge: expese o-curret assets reduced by accumulated depreciatio to give carryig amout irrecoverable debts expese deduct from trade receivables disposal of o-curret asset creatio of, or icrease i, allowace for doubtful debts decrease i allowace for doubtful debts goods take by the ower for ow use debit balace: expese (loss o disposal) credit balace: icome (gai o disposal) expese icome add to sales reveue o-curret assets reduced by disposal trade receivables figure reduced by total amout of allowace trade receivables figure reduced by total amout of allowace add to drawigs Note that, i AAT Assessmets, you may be required to combie accout balaces before trasferrig the et amout or total amout to the statemet of profit or loss or statemet of fiacial positio. Examples iclude sales mius sales returs equals et sales, purchases mius purchases returs equals et purchases, trade receivables less allowace for doubtful debts equals et trade receivables. A Assessmet will always tell you whe such combiig is to be doe usually i the form of a statemet of the busiess policy.
5 5 6 f i a l a c c o u t s f o r s o l e t r a d e r s a d p a r t e r s h i p s t u t o r i a l Case Study S O L E T R A D E R F I N A N C I A L S TAT E M E N T S s i t u a t i o You are the accoutat to Olivia Boulto, a sole trader, who rus a kitche ad cookware shop. Her bookkeeper extracted the year ed trial balace ad you have icorporated ito it the adjustmets advised to you by Olivia Boulto. The adjusted trial balace is as follows: trial balace of olivia Boulto as at 31 december 20-2 Dr Cr Opeig ivetory 50,000 Purchases 420,000 Sales reveue 557,500 Closig ivetory 42,000 42,000 Shop expeses 6,200 Shop wages 33,300 Prepaymet of shop wages 200 Telephoe expeses 600 Accrual of telephoe expeses 100 Iterest paid 8,000 Travel expeses 550 Discouts allowed 450 Discouts received 900 Disposal of o-curret asset 250 Premises at cost 250,000 Shop fittigs at cost 40,000 Premises: depreciatio charge 5,000 Shop fittigs: depreciatio charge 6,400 Premises: accumulated depreciatio 15,000 Shop fittigs: accumulated depreciatio 14,400 Sales ledger cotrol 10,000 Irrecoverable debts 500 Allowace for doubtful debts 250 Allowace for doubtful debts: adjustmet 50 Purchases ledger cotrol 11,250 Bak 2,650 Capital 125,000 Drawigs 24,000 Loa from bak (repayable i 20-9) 130,000 Value Added Tax 3, , ,900 You are to prepare the fiacial statemets of Olivia Boulto for the year eded 31 December 20-2, usig the covetioal format.
6 s o l e t r a d e r f i a c i a l s t a t e m e t s 5 7 s o l u t i o The fiacial statemets icorporatig these adjustmets are show o the ext two pages. A summary of the effect of each adjustmet is give below. closig ivetory deduct 42,000 from purchases i the statemet of profit or loss show ivetory at 42,000 as a curret asset i the statemet of fiacial positio prepaymet of expeses show 200 prepaymet of shop wages as a curret asset i the statemet of fiacial positio accrual of expeses show 100 accrual of telephoe expeses as a curret liability i the statemet of fiacial positio depreciatio of o-curret assets i the statemet of profit or loss show as expeses the depreciatio charges for premises 5,000 ad shop fittigs 6,400 i the statemet of fiacial positio show accumulated depreciatio amouts deducted from o-curret assets to give carryig amouts as follows: cost accumulated carryig depreciatio amout Premises 250,000 15, ,000 Shop fittigs 40,000 14,400 25, ,000 29, ,600 disposal of o-curret asset Durig the year a o-curret asset has bee sold. The bookkeepig etries for disposals have bee made ad all that remais is a credit balace of 250 o disposals accout. This amout is show as icome, beig a gai o disposal, i the statemet of profit or loss. (A debit balace o disposals accout would mea a loss o disposal this would be show as a expese i the statemet of profit or loss.) irrecoverable debts record irrecoverable debts of 500 as a expese i the statemet of profit or loss
7 5 8 f i a l a c c o u t s f o r s o l e t r a d e r s a d p a r t e r s h i p s t u t o r i a l allowace for doubtful debts: adjustmet i the statemet of profit or loss record the 50 amout of the icrease (debit side of trial balace) i allowace for doubtful debts as a expese i the statemet of fiacial positio deduct 250 from the trade receivables figure of 10,000 to give et receivables of 9,750 it is this amout that is listed i curret assets Note that, where there is a reductio i the allowace for doubtful debts, show the amout of the reductio as icome i the statemet of profit or loss. fiacial statemets The fiacial statemets of Olivia Boulto that you prepare are show below. olivia BoultoN statement of ProFIt or loss for the year eded 31 december 20-2 Sales reveue 557,500 Opeig ivetory 50,000 Purchases 420, ,000 Less Closig ivetory 42,000 Cost of sales 428,000 Gross profit 129,500 Add other icome: Discouts received 900 Gai o disposal of o-curret asset ,650 Less expeses: Shop expeses 6,200 Shop wages 33,300 Telephoe 600 Fiace costs (iterest paid) 8,000 Travel expeses 550 Discouts allowed 450 Depreciatio charges: premises 5,000 shop fittigs 6,400 Irrecoverable debts 500 Allowace for doubtful debts: adjustmet 50 61,050 Profit for the year 69,600 Note that the balaces of accouts such as discouts received, iterest received, commissio received, gai o disposal of o-curret asset etc are always listed i the statemet of profit or loss uder the headig of other icome ad are added to the gross profit.
8 s o l e t r a d e r f i a c i a l s t a t e m e t s 5 9 statement of FINaNcIal PosItIoN as at 31 december 20-2 No-curret assets cost accumulated carryig depreciatio amout Premises 250,000 15, ,000 Shop fittigs 40,000 14,400 25, ,000 29, ,600 curret assets Ivetory 42,000 Trade receivables 10,000 Less allowace for doubtful debts 250 9,750 Prepaymet of expeses 200 Cash ad cash equivalets (Bak) 2,650 54,600 less curret liabilities Trade payables 11,250 Accrual of expeses 100 Value Added Tax 3,250 14,600 Net curret assets 40, ,600 less No-curret liabilities Loa from bak 130,000 Net assets 170,600 FINaNced BY capital Opeig capital 125,000 Add Profit for the year 69, ,600 Less Drawigs 24,000 Closig capital 170,600
9 6 0 f i a l a c c o u t s f o r s o l e t r a d e r s a d p a r t e r s h i p s t u t o r i a l t h e u s e o F c o s t o F s a l e s a c c o u N t I some trial balaces there is a debit colum balace give for cost of sales (also referred to as cost of goods sold). This happes because the cost of sales calculatio has bee doe already, ad o amouts are show i the trial balace for: i the debit colum opeig ivetory purchases i the credit colum purchases returs (if ay) closig ivetory (but the debit colum balace for closig ivetory is still show, as this is the amout which is a asset for the statemet of fiacial positio) The calculatio for cost of sales (cost of goods sold) is: plus less less equals Opeig ivetory Purchases Purchases returs (if ay) Closig ivetory Cost of sales It is the fial figure for cost of sales that is show i the debit colum of the trial balace the other amouts are ot show whe the busiess is usig a cost of sales accout. c o s t o f s a l e s a c c o u t This accout brigs together the amouts that make up cost of sales, as follows (usig the figures from Olivia Boulto s trial balace o page 56): Dr cost of sales accout Cr Dec Opeig ivetory 50, Dec Purchases returs* 31 Dec Purchases 420, Dec Closig ivetory 42, Dec Balace c/d 428, , , Dec Balace b/d 428, Dec Statemet of 428,000 profit or loss * Note: there were o purchases returs i Olivia Boulto s trial balace
10 s o l e t r a d e r f i a c i a l s t a t e m e t s 6 1 The balace of the cost of sales accout, 428,000, is trasferred to the statemet of profit or loss where it is deducted from sales to give gross profit: olivia BoultoN statement of ProFIt or loss (extract) for the year eded 31 december 20-2 Sales reveue (less sales returs, if ay) 557,500 Less Cost of sales 428,000 Gross profit 129,500 As you see, this is the same gross profit as we have see already o page 58, but here gross profit has bee calculated i just three lies (although there may be sales returs to deduct from sales reveue). The rest of the statemet of profit or loss cotiues as we have see previously. s u m m a r y I Activities ad Assessmets you should be ready for a trial balace to preset you with two differet circumstaces: either full cost of sales amouts opeig ivetory, i debit colum purchases, i debit colum purchases returs (if ay), i credit colum closig ivetory, i both debit ad credit colums (remember that the debit amout is a asset o the statemet of fiacial positio, while the credit amout is used i cost of sales) or cost of sales accout cost of sales, i debit colum closig ivetory, i debit colum (a asset o the statemet of fiacial positio) I the first circumstace you will eed to calculate the figure for cost of sales o the face of the statemet of profit or loss. I the secod circumstace it is oly ecessary to deduct cost of sales from the figure for sales (allowig for sales returs, if ay) i order to calculate the gross profit figure after gross profit, the statemet of profit or loss cotiues as we have see previously.
11 6 2 f i a l a c c o u t s f o r s o l e t r a d e r s a d p a r t e r s h i p s t u t o r i a l Chapter Summary Sole traders are people who ru their ow busiesses; geerally their busiesses are small because the ower usually has a limited amout of capital. The fiacial statemets of a sole trader comprise statemet of profit or loss statemet of fiacial positio Adjustmets are made to fiacial statemets i order to improve their relevace ad faithful represetatio. A fully adjusted trial balace icorporates the adjustmets for closig ivetory accruals ad prepaymets depreciatio of o-curret assets irrecoverable debts allowace for doubtful debts A cost of sales accout eables the statemet of profit or loss to show gross profit i three lies: sales reveue, less sales returs (if ay) cost of sales = gross profit Key Terms sole trader oe perso ruig their ow busiess adjusted trial balace trial balace which icorporates the accoutig adjustmets ad from which fiacial statemets ca be prepared cost of sales accout accout which brigs together amouts that make up cost of sales: opeig ivetory + purchases purchases returs (if ay) closig ivetory = cost of sales
12 s o l e t r a d e r f i a c i a l s t a t e m e t s 6 3 Activities Blak photocopiable layouts of the statemet of profit or loss ad the statemet of fiacial positio are icluded i the Appedix it is advisable to elarge them up to A4 size. 3.1 A statemet of profit or loss shows a profit for the year of 10,500. It is discovered that o allowace has bee made for wages prepaid of 250 ad admiistratio expeses accrued of 100 at the year ed. What is the adjusted profit for the year? (a) 10,150 (b) 10,350 (c) 10,650 (d) 10,850 Aswer (a) or (b) or (c) or (d) 3.2 A year ed trial balace icludes the followig amouts: opeig ivetory 5,500 closig ivetory 6,500 purchases 25,000 sales reveue 48,000 purchases returs 1,000 sales returs 2,000 What is the cost of sales figure for the year? (a) 23,000 (b) 25,000 (c) 26,000 (d) 47,000 Aswer (a) or (b) or (c) or (d) 3.3 A statemet of profit or loss shows a profit for the year of 15,750. The ower of the busiess wishes to reduce the allowace for doubtful debts by 500 ad to write off irrecoverable debts of 300. What is the adjusted profit for the year? (a) 14,950 (b) 15,550 (c) 15,950 (d) 16,550 Aswer (a) or (b) or (c) or (d)
13 6 4 f i a l a c c o u t s f o r s o l e t r a d e r s a d p a r t e r s h i p s t u t o r i a l 3.4 You have the followig trial balace for a sole trader kow as Zelah Tradig. All the ecessary year ed adjustmets have bee made. (a) Prepare a statemet of profit or loss (o the ext page) for the busiess for the year eded 31 March Zelah tradig trial balace as at 31 march 20-4 Dr Cr Accruals 950 Bak 3,220 Capital 22,000 Closig ivetory 6,500 6,500 Depreciatio charge 3,400 Discouts allowed 750 Drawigs 6,500 Geeral expeses 21,240 Machiery at cost 24,200 Machiery: accumulated depreciatio 8,400 Opeig ivetory 4,850 Prepaymets 650 Purchases 85,260 Purchases ledger cotrol 11,360 Ret 8,900 Sales reveue 155,210 Sales ledger cotrol 15,350 Sellig expeses 27,890 Value Added Tax 4, , ,710
14 s o l e t r a d e r f i a c i a l s t a t e m e t s 6 5 Zelah tradig statemet of profit or loss for the year eded 31 march 20-4 Sales reveue Cost of sales Gross profit Less expeses: Total expeses Profit for the year (b) Idicate where closig ivetory should be show i the statemet of fiacial positio. Tick one from: As a o-curret asset As a curret asset As a curret liability As a deductio from capital (c) State the meaig of a credit balace for Value Added Tax i a trial balace. Tick one from: HM Reveue & Customs owes the busiess HM Reveue & Customs is a receivable of the busiess There is a error VAT is always a debit balace The busiess owes HM Reveue & Customs
15 6 6 f i a l a c c o u t s f o r s o l e t r a d e r s a d p a r t e r s h i p s t u t o r i a l 3.5 The followig adjusted trial balace has bee take from the books of Helea Ostrowska, who sells soft furishigs, as at 31 March 20-5: Dr Cr Sales ledger cotrol 46,280 Purchases ledger cotrol 24,930 Value Added Tax 3,860 Bak 10,180 Capital 62,000 Sales reveue 243,820 Purchases 140,950 Opeig ivetory 30,030 Shop wages 40,270 Accrual of shop wages 940 Heat ad light 3,470 Prepaymet of heat ad light 220 Ret ad rates 12,045 Shop fittigs at cost 30,000 Shop fittigs: depreciatio charge 5,000 Shop fittigs: accumulated depreciatio 15,000 Disposal of o-curret asset 850 Irrecoverable debts 200 Drawigs 31,055 Closig ivetory 34,080 34, , ,630 You are to prepare the fiacial statemets of Helea Ostrowska for the year eded 31 March 20-5, usig the covetioal format.
16 s o l e t r a d e r f i a c i a l s t a t e m e t s The followig adjusted trial balace has bee take from the books of Mark Pelisi, a ladscape gardeer, as at 31 March 20-7: Dr Cr Sales reveue 100,330 Sales returs 120 Cost of sales 35,710 Discouts allowed ad received Drawigs 30,090 Vehicles at cost 24,000 Vehicles: depreciatio charge 6,000 Vehicles: accumulated depreciatio 12,500 Equipmet at cost 18,500 Equipmet: depreciatio charge 3,500 Equipmet: accumulated depreciatio 8,000 Disposal of o-curret asset 160 Wages 24,110 Accrual of wages 400 Advertisig 770 Admiistratio expeses 14,830 Bak 3,800 Sales ledger cotrol 3,480 Irrecoverable debts 350 Allowace for doubtful debts 620 Allowace for doubtful debts: adjustmet 180 Purchases ledger cotrol 2,760 Value Added Tax 1,840 Capital 35,040 Bak loa (repayable i 20-9) 9,000 Closig ivetory 5, , ,070 You are to prepare the fiacial statemets of Mark Pelisi for the year eded 31 March 20-7, usig the covetioal format.
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Time Value of Moey Basis for the course Power of compoud iterest $3,600 each year ito a 401(k) pla yields $2,390,000 i 40 years First some techical stuff You will use your fiacial calculator i every sigle
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Level A1 of challege: C A1 Mathematical goals Startig poits Materials required Time eeded Iterpretig algebraic expressios To help learers to: traslate betwee words, symbols, tables, ad area represetatios
Chapter 420 Cofidece Itervals for Oe Mea Itroductio This routie calculates the sample size ecessary to achieve a specified distace from the mea to the cofidece limit(s) at a stated cofidece level for a
60 Baltimore Couty Public Schools offers you several ways to begi savig moey through payroll deductios. Defied Beefit Pesio Pla Tax Sheltered Auities ad Custodial Accouts Defied Beefit Pesio Pla Did you
PUBLIC RELATIONS PROJECT 2016 The purpose of the Public Relatios Project is to provide a opportuity for the chapter members to demostrate the kowledge ad skills eeded i plaig, orgaizig, implemetig ad evaluatig
Cocept 9: Preset Value Is the value of a dollar received today the same as received a year from today? A dollar today is worth more tha a dollar tomorrow because of iflatio, opportuity cost, ad risk Brigig
Ivestig i Stocks Ivestig i Stocks Busiesses sell shares of stock to ivestors as a way to raise moey to fiace expasio, pay off debt ad provide operatig capital. Ecoomic coditios: Employmet, iflatio, ivetory
Tax Briefig ISSUE 11 - July 1993 Itroductio I additio to iformatio provided uder the regular headigs, this issue of Tax Briefig cotais: Prelimiary iformatio regardig the Amesty - see opposite A summary
Valuig Firms i Distress Aswath Damodara http://www.damodara.com Aswath Damodara 1 The Goig Cocer Assumptio Traditioal valuatio techiques are built o the assumptio of a goig cocer, I.e., a firm that has
What is a bod? Bod Valuatio I Bod is a I.O.U. Bod is a borrowig agreemet Bod issuers borrow moey from bod holders Bod is a fixed-icome security that typically pays periodic coupo paymets, ad a pricipal
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4 Workig with umbers this chapter covers... This chapter is a practical guide showig you how to carry out the types of basic calculatio that you are likely to ecouter whe workig i accoutig ad fiace. The
PCSYBL-F For Educatioal Purposes ly The materials preseted i this course represet the opiios ad views of the developers ad/or reviewers. Although these materials may have bee reviewed, the views ad opiios
Itegrated Productio ad Ivetory Cotrol System MRP ad MRP II Framework of Maufacturig System Ivetory cotrol, productio schedulig, capacity plaig ad fiacial ad busiess decisios i a productio system are iterrelated.
Comparig Credit Card Fiace Charges Comparig Credit Card Fiace Charges Decidig if a particular credit card is right for you ivolves uderstadig what it costs ad what it offers you i retur. To determie how
NATIONAL SENIOR CERTIFICATE GRADE MATHEMATICS P EXEMPLAR 04 MARKS: 50 TIME: 3 hours This questio paper cosists of 8 pages ad iformatio sheet. Please tur over Mathematics/P DBE/04 NSC Grade Eemplar INSTRUCTIONS
REVITALIZING STORES FOR BIG BRAND FRANCHISES Recapitalizatio Frachise ad Restaurats Growth Capital I ve spet my career buildig valuable restaurat frachises for some of the top QSR brads i America. We eeded
Solvig Logarithms ad Epoetial Equatios Logarithmic Equatios There are two major ideas required whe solvig Logarithmic Equatios. The first is the Defiitio of a Logarithm. You may recall from a earlier topic:
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BENEIT-CST ANALYSIS iacial ad Ecoomic Appraisal usig Spreadsheets Ch. 2: Ivestmet Appraisal - Priciples Harry Campbell & Richard Brow School of Ecoomics The Uiversity of Queeslad Review of basic cocepts
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Chapter 24 Warrats ad Covertibles Warrats The Differece betee Warrats ad Call Optios Warrat Pricig ad the Black-Scholes Model Covertible Bods The Value of Covertible Bods Reasos for Issuig Warrats ad Covertibles
Choosig A Mortgage Like homes, home mortgages come i all shapes ad sizes: short-term, log-term, fixed, adjustable, jumbo, balloo these are all terms that will soo be familiar to you, if they re ot already.
Idetity Theft is a form of fraud or Idetity theft cotiues to icrease every year ad has impacted millios of Americas. cheatig of aother perso s idetity i which someoe preteds to be someoe else by assumig
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Hadlig the Collectio Calls We do everythig we ca to stop collectio calls; however, i the early part of our represetatio, you ca expect some of these calls to cotiue. We uderstad that the first few moths
Life Isurace: Your Blueprit for Wealth Trasfer Plaig Producer Guide to Private Split Dollar Arragemets These materials are ot iteded to be used to avoid tax pealties ad were prepared to support the promotio
1 Correlatio ad Regressio Aalysis I this sectio we will be ivestigatig the relatioship betwee two cotiuous variable, such as height ad weight, the cocetratio of a ijected drug ad heart rate, or the cosumptio
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2 Time Value of Moey BASIC CONCEPTS AND FORMULAE 1. Time Value of Moey It meas moey has time value. A rupee today is more valuable tha a rupee a year hece. We use rate of iterest to express the time value
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Ati-Moey Lauderig Over the last year, moey-lauderig crimes siphoed a estimated $1.3 trillio out of the global ecoomy.* I light of this staggerig statistic, the resultig striget legislatio is uderstadable.
Determiig the sample size Oe of the most commo questios ay statisticia gets asked is How large a sample size do I eed? Researchers are ofte surprised to fid out that the aswer depeds o a umber of factors
Simple Auities Preset Value. OBJECTIVES (i) To uderstad the uderlyig priciple of a preset value auity. (ii) To use a CASIO CFX-9850GB PLUS to efficietly compute values associated with preset value auities.
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Preset Value Tax Expediture Estimate of Tax Assistace for Retiremet Savig Tax Policy Brach Departmet of Fiace Jue 30, 1998 2 Preset Value Tax Expediture Estimate of Tax Assistace for Retiremet Savig This