what is the finalisation of balancesheet and how it can be
made
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Answer Posted / priyanka kathiriya
Finalisation of balance sheet is to prepare the summary of
accounts after all adjustments & provisions i.e.
depreciation of fixed asstes, provision for doubtfull debts,
provision for deffered tax and other expances.
first of all prepare all ledger accounts and trial balance
after prepare trading a/c and profit&loss a/c after we have
finalize of balance sheet.
two side of balance sheet one is liabilities and second is
assets. liabilities side include capital, loans & advances,
provision & reserves, current liabilities and assets side
include fixed assets, current assets, preliminary expances.
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