ACCA FA Syllabus E. Preparing A Trial Balance - Impact of errors - Notes ^{4 / 4}

When errors are corrected they may affect the business' profit for the year figure. In order to find the correct figure for profit, a statement of adjustments to profit has to be prepared.

Proforma – Statement of Adjustment to Profit

	$	$	$
	+	-
original profit			x
adjustment:
over depreciation expense charged	x
unrecorded expense		x
unrecorded sale	x
	----	----
	x	(x)	x
			----
adjusted profit			x
			===