Session 16 to 18 - Practice: Preparation of Memorandum Trading account and Profit & Loss account

Practice/Practical/Practicum Session Plan : Practice: Preparation of Memorandum Trading account and Profit & Loss account

1️⃣ 0–5 min: Introduce the purpose of Memorandum Trading A/c and P&L A/c in incomplete records (single entry).
2️⃣ 5–15 min: Explain format and steps of Memorandum Trading Account with simple example.
3️⃣ 15–30 min: Teach Profit & Loss Account preparation—items, adjustments, and format.
4️⃣ 30–40 min: Solve one combined practical problem (Memorandum Trading + P&L).
5️⃣ 40–45 min: Recap and discuss 5 exam-important questions.

Instruction for Practice/Practical/Practicum : (PDF, PPT)

Memorandum_Trading_and_PL_Account.pptx

Practice Material (IV Quadrant Approach)

(Q1) : Practice Questions/Problems (PDF Formats)

Memorandum trading and p&l ac.pdf

(Q2) : Video Based Content (Youtube)

(Q3) : Formative Assessment (Google Form/Any Other Online Quiz Platform)

(Q4) : Further Reading

Recommended Books & Texts

Accounting for Business (3rd ed) — A textbook focused on how accounting supports business decision-making and is suitable for non-specialist managers and business students. Goodreads
Accounting for Business Studies by Aneirin Owen — Integrates accounting with business & management studies, emphasising the commercial context. Routledge
Business Accounting (v.2.0) (free online text) — Covers many fundamental accounting topics; good for self-study. 2012 Books
Accounting, The Language of Business by JoAnn Wood — Openly-licensed, explains accounting as a communication tool in business. Boise State Pressbooks

Useful Online Resources

Open Textbook Library: “Accounting Principles: A Business Perspective” and others — free downloadable textbooks covering core accounting topics. Open Educational Resources
Guides listing recommended books for accounting and business: e.g., “Business Recommended Reading by Subject: Accounting”. BYU Library Guides+1
Articles on accounting fundamentals: e.g., “What Is Accounting? | Introduction to Business” explains accounting as the language of business.

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