any other advice to prepare b.r.s easly
Answer / more akshay dhondu
A B.R.S. is a statement prepared by organizations to
reconcile the balance of cash at bank in a company's own
records with the bank statement on a particular date.
This statement is the most common tool used by
organizations for reconciling the balance as per books of
company with bank statement & is made at the end of every
month. The main objective of reconciliation is to ascertain
if the discrepancy is due to error rather than timing.
Following steps can carry in Accounts to calculate B.R.S.
1. Cheques drawn but not yet presented to the bank.
2. Cheques received but not yet deposited in the bank.
3. Interest Credited & not recorded in the organization's
book.
4. Bank charges debited but not recorded in the
organizations books.
& Following steps can carry in Cost Accounting to calculate
B.R.S
------------------------------------------------------------
! Net As Per Cost Sheet Amt.
! Add:-
! 1. Any stock's opening balance is overvalued
in cost book. Amt.
! 2. Any stock's closing balance is undervalued
in Cost Book & Overvalued in organization's books Amt.
! 3. Administrative or Selling Expen. Overvalued
in Cost book & Under valued in Organization'
book. Amt.
4. Any dividends received in organization's book &
not recorded in Cost book. Amt.
------
Amt
Less:-
1. Any interest debited in organization's book &
not recorded in Cost book. Amt.
2. Loss on Sale of Assets debited in
organization's book & not recorded in Cost book.
3. Godwill, Preliminery Exp. or any Exp. written
off in Organization's book. Amt.
4. Any tock's Opening balance is overvalued in
financial book. Amt.
5. Any Stock's Closing balance is overvalued in
Cost book. Amt.
6. Administrative Exp. or Selling Exp. is
overvalued in organization's book. Amt.
------
Amt
----
Profit as per Organization's book Amt
----
----
| Is This Answer Correct ? | 4 Yes | 0 No |
Q5 Prepare a Balance sheet from the following particulars: Gross profit =Rs.80,000 Gross profit to cost of goods sold =1/3 Stock velocity =6 times Opening stock =Rs.36,000 Accounts receivable velocity =72 days (year=360 days) Current assets=Rs.1,50,000 Account payable velocity=90 days Bills receivable =Rs.20,000 Bills payable=Rs.5,000 Fixed assets turnover ratio (on cost of goods sod)=8 times
1. The controlling department wants to see depreciation amount on internal orders. Which customizing setting do you need to make in asset accounting?(any 3 answer) Make the internal order in active assignment object. Make the internal order an account assignment object for the depreciation run. Set the field internal order to required or optional in the screen layout. Enhance relevant transfer variant by adding the field internal order. Assign the field internal order to account determination.
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