Key Topics: Financial statement preparation, year-end adjustments, accrual principle, and depreciation.

Concepts Covered:
• SOFP analysis
• Allowance for irrecoverable debts
• Depreciation methods
• Cost of sales calculation
• Accrued expenses

Description: The case involved preparing accurate financial statements for Malright Co as at the 31st of October 20X7. Tasks included analyzing the trial balance, adjusting the allowance for irrecoverable debts, calculating depreciation using straight-line and reducing balance methods, determining cost of sales from inventory movements, and applying the accrual principle to recognize energy costs. This case emphasized applying accounting principles to ensure accurate and reliable financial reporting.