why was started accounting year as on April 1st
Answers were Sorted based on User's Feedback
Answer / ritha
The accounting period is also called as fiscal year,since it consits of 12months period...we call the period b/w jan to dec as calender year and frm april to march as financial year..it is not mandatory that it should be with in dat time period,it differs from company to company,and from countries to countries.
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / smitha
Accounting Year was started From April 1st because
Financial year starts From April 1st of every year and ends
in next financial yearthat is on march 31st so that the
company can report the transactions of the businesss of
that particular business and prepare a balance sheet .An by
preparing the balance sheet the aufditor will come to know
whether the company has any profit or Loss for the company
Is This Answer Correct ? | 3 Yes | 6 No |
Answer / jayanti
Accounting year is start from 1st of APril Becouse the
financial year is also start from the same. So the Auditors
and goverment, properitor and company it self , will come
to know that whereth ther is a profit or loss for that year.
Is This Answer Correct ? | 0 Yes | 3 No |
Expand---------MRDT
what is depriciation
what is the difference between Purchase order and invoice
what are the type of cash flows?
Expand-------RGD
OBJECTIVES OF ACCOUNTING ?
9 Answers IBM, State Bank Of India SBI,
Transfer nett profit of Rs 325000/- to Reserves and Surplus
Can anyone give comparative data of NPA(non performing assets) of nationalised banks or BANKS IN INDIA for the last 5-10 years if possible with bifurcation substandard doubtful loss asset
is outstanding items (either expences or incomes) comes in trial balance? if so how to treat them in financial statements
What is GAAP ?
Explain significance of Nastro and Vastro in accounts?
expand N A V