Balance Sheet should always tally as we follow the 
principle of double entry and in perfect world it should 
always tally. Alos if the balance sheet is tallying it 
doesn't mean that it is correct as we may have put in a 
wrong transaction and followed it by an equal and opposite 
trandaction.

FOR EVERY OUT WARDS  THERE WILL BE A INWARD SO THAT THE 
EXPENCES SHOULD BE EQUAL TO THE INCOME IF THE BALANCE SHEET 
HAS BEEN TAILED IT SHOWS THE BOOK OF A/C ARE PERFECT.

The Whole result of expenses and income or input and output
transactions are relected in a balance sheet. every
transaction should have double effect in accounts. Then the
right balance sheet is always tally

deferred tax means it is a timing difference between the 
companies and income tax act. 

Deferred tax liability arise when the It act Depreciation 
higher than the companies act depreciation. 

Deferred tax Asset arise when the It act Depreciation 
lesser than the companies act depreciation.

Accounts  payables are amounts that are being owed to 
outsiders or third parties to the business for supplies of 
goods and services yet to be paid for by the business. They 
are also called, Creditors. Accounts receivables are 
amounts that are outstanding against others for the supply 
of goods and services by the company, of which they owe to 
the company. They are also called, Debtors.

Accout payable is the due amount payable to the creditor 
which we havent payed to the party accout recevable is the 
that we scould receive in the future .B/P IS AN EXPENCE 
                                      B/P IS AN INCOME

33 accounting standard in india

29 accounting standard in india

19 accountant statdard in India of folowing :-
AS-1           DISCLOSURE OF ACCOUNTING POLICIES

AS-2           VALUATION OF INVENTORIES

AS-3            CASH FLOW STATEMENTS

AS-4           CONTINGENCIES AND EVENTS OCCURING AFTER 
BALANCE SHEET                          DATE

AS-5           NET PROFIT OR LOSS FOR THE PERIOD,PRIOR 
PERIOD AND CHANGES                          IN ACCOUNTING 
ESTIMATES

AS-6           DEPRICIATION ACCOUNTING

AS-7          ACCOUNTING FOR CONSTRUCTION 

                    CONTRACTS

AS-8          ACCOUNTING FOR RESEARCH AND 

                    DEVELOPMENT

AS-9          REVENUE RECOGNITION

AS-10        ACCOUNTING FOR FIXED ASSETS

AS-11        ACCOUNTING FOR EFFECTS OF CHANGES IN FOREIGN 
EXCHANGE                          RATES

AS-12         ACCOUNTING FOR GOVERNMENT GRANTS

AS-13         ACCOUNTING FOR INVESTMENTS

AS-14         ACCOUNTING FOR AMALGAMATIONS

AS-15         ACCOUNTING FOR RETIREMENT BENEFITS IN THE 
FINANCIAL                          STATEMENTS OF EMPLOYERS

AS-16         ACCOUNTING FOR BORROWING COSTS

AS-17        SEGMENTAL REPORTING

AS-18        RELATED PARTY DISCLOSURES

AS-19        LEASES

At present there are 30 Accounting Standard published by 
ICAI.

An amount withdrawn from the business by the Proprietors or 
Directors of the business.

I consider myself suitable for this position because, i 
have a considerable work experience in this field and 
therefore, will be able to introduce the changes needed to 
speed up the process of work in this department.

Rule 1: Total asset= Total liab + owner's Equity

Rule 2: Debit: all exp & loss
        Credit: all income & gain

Rule 3: Total of debit side = Total of credit side

1. Debit  to receiver
   Credit to giver

2. Debit what comes in 
   Credit what goes out

3. Debit All Exp /Loss
   Credit Income/Gain

their are 3 types of accountants
1) personal account  
2) Real account
3)nominal account

personal a/c
Dr receiver
        Cr to giver

Real a/c:
Dr what comes in 
         Cr what goes out

nominal A/c
All Exp /Loss 
        Cr Income/Gain

They are those basic principles and conventions of 
preparing an accounting statements and in recongnition of 
certain transactions in the accounts and their 
treatments.Eg, The Double entry principle which states 
that, for every debit entry, there must be a corresponding 
credit entry in order that the account can balance.

before the incorparation of Buusines The ewpences that are  
 incured are colled preliminarey expences

These are expences incurred by a business in the inception 
and in the process of commensement of the new business.