This is a resource to hopefully help explain Accruals and Pre-payments for BTEC Level 3 Business students who are studying for the ‘Unit 3 - Personal and Business Finance exam’.
It contains a slide with screenshots of a couple of previous exam questions to show what they may realistically be asked to do in the exam.
There is also a full worked example of how to update both the ‘Statement of Comprehensive Income’ (abbreviated to SOCI) and the Statement of Financial Position (abbreviated to SOFP).
I created this to help get my head round it and provide better support to the students than the typically unclear stuff they get in the Pearson book.
Feel free to change and share this resources as you wish and let me know if there are any errors/updates I need to sort out.
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Thank you for sharing, really helpful
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