FREEMAN SOFTWARE TECHNOLOGIES · VERSION 20
Financial Statements & Inventory Valuation
Read existing Freeman Retail and Procurement test transactions and prepare a balanced illustrative trial balance, a trading statement and a simplified statement of financial position. Values are in Ghana cedis (GH₵).
DEVELOPMENT / NOT CERTIFIED ACCOUNTS: Historic sales do not contain a cost snapshot. Their cost of goods sold is estimated from the product's current recorded cost. Opening inventory is inferred from opening movements. Manual stock adjustments, taxes, returns, depreciation and other expenses are not fully accounted for. Do not use these statements for statutory filing or business decisions without professional reconciliation.
Recorded sales—
Estimated COGS—
Gross margin estimate—
Book inventory estimate—
Unpaid supplier invoices—
Trial balance difference—
01 · Trial Balance
| Account | Debit (GH₵) | Credit (GH₵) |
|---|---|---|
| Total |
02 · Trading & Gross Profit Statement
Gross profit excludes operating expenditure, taxes, financing charges and other adjustments. It is not net profit.
03 · Simplified Statement of Financial Position
Cash/bank balances may be negative where supplier payments exceed recorded receipts or opening balances are missing. Negative balances are shown as such, not concealed.
04 · Stock Valuation Register
| SKU | Product | Units on hand | Recorded unit cost | Indicative stock value |
|---|
Stock values shown are a current-cost approximation, not FIFO or a tested weighted-average perpetual valuation. They may differ from the book inventory estimate.
05 · Derived Journal & Reconciliation
| Date | Reference | Account | Debit | Credit |
|---|