Interested to Buy Any Domain ? << Click Here >> for more details...
What is finalization
- 3 Answers
- 6770 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
The process of preparing Profit & Loss Account & Balance
Sheet with relevant schedules and notes for an Accounting
period is called Finalization of Accounts.
The Final Accounts are signed by the
proprietor/partner/directors of the business organization &
also by the auditors & company secretary (wherever
required). The finalised accounts will be presented to the
board of directors, shareholders in AGM & filed with the
concerned government departments,.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / mazahar
finalization in simple words,
Preparation of Profit & loss account, Balance sheet and
Statement of Shareholder equity, and need to provide report
to management. Management concern Finance manager,Director,
board members,GM. Closing of all revenue account, expenses
account, retained earning account and income account.and
Cash flow statement, with complete audit report and notes.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / vineeth .kp
After completion of the procedure of accounting ,we usually
compare with the trading p/l and balace sheet with the
previous year assessment.according to the accounting
principles the company or business firm that we are dealing
is supposed to make profit achievement for the future
growth.such a procedure to make comprison with the final
accounts are yet together said to be finalisation of
accounts.
| Is This Answer Correct ? | 0 Yes | 2 No |
What is a comprehensive income?
What is BRS?
Tell me what a deferred asset is and give an example?
how will be the entry of service tax on freight?
In tally when accounts with inventory ,when working in units of measurement under this after creating unit ,if we want to change the unit due to some mistake why does the cursor does not stop in the decimal field? And why the used units do not get deleted in the alter section?
what is a gross profit ratio?
what is entry for salary advance? salary entry mentioned by Indusial name
1.what is the entry of petrol of payment made by credit card of owner? 2.what is the entry of petrol of payment made by credit card of Company?
what is Sundary Debtor and sundary creditor.
What do you mean by DP(Drawing Power)
Tell us how can you define departmental accounting?
purchased books rs.50000 and paper 25000
Audit 
