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Compare the final accounts of two organisations explaining the similarities and differences.

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  • Essay length: 2232 words
  • Submitted: 20/05/2011
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GCSE Accounting & Finance

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M1 Compare the final accounts of two organisations explaining the similarities and differences

Similarities and differences between the sole trader and the limited accounts

Both of the companies have the same structured profit and loss account but they are still different. If we have a look at the profit and loss account we will see that they both have sales, opening stock, and purchases, less return until it is reached by the overheads. This also shows that they also have different currencies, the subway Groningen deals with the Euros and the subway LLC deals with American dollars but in millions as subway Groningen dealing only with thousands. Not forgetting that the subway in Groningen is a franchising company and the subway in America is LLC. Groningen subway only does it profit and loss account for its own company and the subway in America is for the whole subways that are franchised. What is also different is that the profit and loss account from the subway LLC is that they have a share of profits; this means that this company has shareholders which are them. Profits are usually distributed to shareholders in the form of a dividend some profits

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