What is finalization

Answer Posted / 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



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

How do you maintain accounting accuracy?

698


WHAT IS MIS REPORT IN ACCOUNTS ? WHAT IS ITS USE IN ACCOUNTS & GIVE WITH AN EXAMPLE ?

1929


how sales invoices adjusted against advance received from Debtor?

1476


pass journal entries of the following transaction in the books of AG sindh, AGPR,FTO and SBP: 1)DDo sindh house submitted a bill for purchase of furniture to AGPR islamabad for Rs.200000 on 20th March 09; 2)AGPR issued cheque on 2nd april which was cleared by SBP on 5th April; 3)On 26th may, voucher were exchanged in the clearing house; 4)On 28th May, AG sindh issued advise to settlement to SBP karachi; 5)On 5th june,SBP HQ karachi sends a copy of clearnce memo along with bank statement to AG sindh and AGPR for settlement made on 31st May.

2468


Why we debit expenses and credit incomes ?

1270






A company purchase goods Rs.2000/- & input vat received rs.100/- but at the time he sold goods 1000/- as a sales & 1000/- as a sock transfer. plz tell me how much take input claim in this case.

1745


what is ment by suspence account and dummy account

1567


How familiar are you with crm?

624


In which condition a vendor raise excise invoice & what are the effect of excise invoice on client ?

1036


What are the criteria for accounting job?

1428


My question is.. I Received the amount from party through the bank. example. 1. Actual received from party $1000 @ 32.70 = 32,700 baht(service charge included ) 2. Bank Charge 500 baht 3. Given the credit to pary $ 1000 @ 32.50 = 32,500 baht 4. and bank charge 500 debit on party account also. .... For the First three transacion on account bank account dr 32200 bank charge dr 500 party cr 32,500 ex. fluxation cr 200 how can treate the 4th transaction. thanks in advance

1417


Tell me deferred taxation is a part of which equity?

571


when we purchase of tractors and two wheeler vehicle from other state what we get taxes exemptions

1502


shares convert into share capital what is the journal entry? how many ledgers need to create?

1594


I WRITE GROUP-4 EXAMINATION.I STADIYING INTERMEDET HOW MANY PARSANTEGE OF GROUP-4 EXAMINETIN

2557