Financial Statements Preparation
What this domain tests
Financial-statement questions test the 損益計算書, 貸借対照表, 試算表, and 精算表. You must classify accounts, compute profit in the correct order, and show ending capital after net income and drawings.
Core rules
- Income statement: 売上高 − 売上原価 = 売上総利益; − 販売費及び一般管理費 = 営業利益; + 営業外収益 − 営業外費用 = 経常利益; + 特別利益 − 特別損失 = 税引前当期純利益; − 法人税等 = 当期純利益.
- Balance sheet: 資産 = 負債 + 純資産. Classify 流動 and 固定 items; show 減価償却累計額 as a deduction from the asset.
- Trial balance: total debits equal total credits. A 合計残高試算表 shows both totals and balances.
- A 精算表 has trial balance, adjustments, income statement, and balance sheet columns; adjusted balances must carry across correctly.
Worked example
Sales ¥1,000,000; cost of sales ¥600,000; selling and administrative expenses ¥250,000; non-operating revenue ¥10,000; non-operating expense ¥20,000. 売上総利益 = 1,000,000 − 600,000 = ¥400,000. 営業利益 = 400,000 − 250,000 = ¥150,000. 経常利益 = 150,000 + 10,000 − 20,000 = ¥140,000. With no special items or tax, 当期純利益 = ¥140,000. On the balance sheet, ending capital = beginning capital + 140,000 − drawings. The profit increases equity; it is not a liability.
Traps
- Using 仕入 instead of 売上原価 in the income statement.
- Misclassifying 営業外 and 特別 items.
- Forgetting to deduct 引出金 from capital.
- Showing 貸倒引当金 as a liability instead of a contra-asset.
- Preparing a balance sheet that does not balance after closing.