1. What are the fi nal accounts of a business?. . 279 2. What is an income statement? . . . . . . . 279 3. How is the trading account section of an income statement prepared? .
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4. How is the profi t and loss account section of an income statement prepared? .
6. What does a complete income statement for a business look like? . Chapter Review .
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Case Study La Touche Cosmetics
Fiona Foley bought Frank a bottle of his favourite aftershave for his birthday. The aftershave is produced by La Touche Cosmetics, who describe themselves as ‘producers of fi ne perfumes and beauty products’.
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5. How is the appropriation account section of an income statement prepared? . . . . . . . . . 286
