Interested to Buy Any Domain ? << Click Here >> for more details...
Can we finalize Balance Sheet Without prepare Profit & Loss
Account.
- 15 Answers
- 20402 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / asif khan
Hey Without the preparing profit & loss statement we cannot
make the balance sheet becz we dont know the actual
position of the business and in balance sheet we have to
add net profit aur net loss under capital in labilities
side after deduct the drawing and then only we can get the
complete position of the balance sheet and income &
Expenditure with the help we can make the balance sheet but
we cannot know the extract position of the company without
knowing the profit & loss statement and while in audit
people will see the p&l statement , income& expenditure
statement , cash flow , fund flow statement and equity &
debenture of the company then final balance sheet they will
see and tally all the entries so in my point of view profit
& loss statement is very important withour we can't make
the balance sheet .
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / pratima sunkara
no, we cant prepare without taking p&L balance whether it
is profit or loss, we have to show in B&S.otherwise B&s
will not be tallied.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / hari
as per the companies act we can't finalize balance sheet with out P& L a/c, as per the managment act we can finalize with out P& L a/c.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / rahul
yes we finalize balance sheet through income & expenditure
a/c .so its posible to finalize Balance Sheet Without
prepare Profit & Loss
Account.
| Is This Answer Correct ? | 6 Yes | 9 No |
what are all the things to be checked while consolidation of project/site accounts?
what is LIFO method & procedure ? How you can calculate it ? What is Fund flow ? & what is Cashflow method ? whais is the use fund flow & cash flow in company?
analyses of Cost control
why your choseing bank of america
Is it possible to list only a portion of Equity Shares leaving the balance as unlisted?
what is the difference between debenture and baond
What is the percentage of DA to be cut from an employee salary ?
What is claim ratio ?
How often is the stock market ticker updated? 15sec? 30sec?
where will be effect the amount of depreciation in company final account? If it will effect in P&L A/c & Balance Sheet also than will amount be same in both sheet?
what is bank of america
I WANT TO DO THE CS AND THEREFORE I M WORKING HARD THE PREIOUS QUESTIONS WHICH I AM ASK TRY TO GIVE IT TIMMORROW IS POSSIBLE.
Audit 
