Interested to Buy Any Domain ? << Click Here >> for more details...
what is finalisation of accounts.
- 5 Answers
- 13121 Views
- Bank Of America, BoA, I also Faced
- E-Mail Answers
Answer Posted / suresh kumar varshas
In accounting paralance, finalisation of accounts means
closing the books of entry for the financial year.
This is done as follows:
Prepare as TRIAL BALANCE based on the Ledger accounts.
With the help of T/B, prepare the Final Accounts, namely:
Trading & Profit and Loss Account
Balance Sheet.
Post all the direct expenses and income in TradinG Account.
TOTAL DIRECT INCOME - TOTAL DIRECT EXPENSES = GROSS PROFIT.
Carry forward the Gross Profit to P& L A/c
| Is This Answer Correct ? | 6 Yes | 1 No |
Post New Answer View All Answers
sir i am working consruction company.we have 4 projects in varrious places.i enter attendance in payroll by project wise.if enter autofill salaries combained all projects.i want individual salaries base on attendance feeding method.because staff are changing in one project to another project offenly.please explain method
what happens to each of the three primary financial statements when gross margin decreases?
what are the differences between Tally and Focus?
What are the different payrolls? how we calculate the exmployee payroll? how we calculate the employee salaries details?
2Create a program that accepts a number and output its equivalent in words (maximum input number is 3000). for example Enter a number: 1380 one thousand three hundred eighty
Define `Realisation` Account? Explain the salient features?
Short Answer on _________________City Compensatory allowance
Why do you want to work with us
what is composition vat
How can we calculate the total income of the company.
Who is called consignor
What is the basic difference between pledge, hypothication and mortgage????
What is EBITDA
What is compensation theorem?
A----------involves transfer of money or moneys worth from one person to another
