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Accounting for Sole Traders: Income Statement & SOFP with Adjustments Welcome back to Commerce with Talha Fozail. Today’s lesson focuses on the core of Financial Accounting: preparing Final Accounts with year-end adjustments. Whether you are studying CA, ACCA, or O/A Levels, these principles remain the same. Why Adjustments are necessary (The Matching Principle) Inventory & Goods for Own Use The Accruals & Prepayments Formula Depreciation & Disposal Adjustments Provision for Doubtful Debts (The Increase/Decrease Rule) Final Statement of Financial Position Walkthrough Resources Mentioned: 📥 Download the Practice Question & Solution: [Link] 📌 Subscribe for more Accounting shortcuts Tired of losing marks on Accounting adjustments? I’m showing you the step-by-step process to handle everything from Depreciation to Accruals for Sole Traders. This video is specifically designed for students looking for a quick, clear, and comprehensive revision of Financial Statements. Don't forget to Like, Share, and Subscribe to Commerce with Talha Fozail for more commerce-related content! #OLevelAccounting #ALevelAccounting #IGCSEAccounting #CAIEAccounting #7707 #commercewithtalhafozail #IncomeStatement #SOFP #StatementOfFinancialPosition #AccountingAdjustments #FinalAccounts #Depreciation #AccrualsAndPrepayments