Head of Accounts

Loss

Profit

Surplus

Deficit

1st June of a calendar year to 30th May of the next calendar year

1st May of a calendar year to 30th June of the next calendar year

1st June of a calendar year to 30th June of the next calendar year

1st July of a calendar year to 30th June of the next calendar year

$500 will be credited in the debtor control a/c

$500 will be debited in the debtor control a/c

$1000 will be credited in the debtor control a/c

$1000 will be debited in the debtor control a/c

Revolution gain

Dividends paid

Taxation

Profit for the year

Period of Account

Table of accounts

Refund of Revenues

Chart of Accounts

4

5

6

7

Financial reporting

Period of Account

Table of accounts

Refund of Revenues

Period of Account

Table of accounts

Chart of account

None of these

The main divisions of accounts are revenue, capital and debt

The main divisions of accounts are revenue, debt and remittance

The main divisions of accounts are capital, debt, and remittance

The main divisions of accounts are capital, debt, revenue and remittance

1st January 2004

1st January 2005

1st January 2006

1st January 2007