Interested to Buy Any Domain ? << Click Here >> for more details...
what is finalisation of accounts.
- 5 Answers
- 13401 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
plz send all previous question papers for SBI clerical post.My email id is mechabhilash6@gmail.com
What is PE ratio formula ?
what is the use of special general ledger if the normal trasaction in usage.
where we use the convetion of conservatisam in real life??
In case of cement plant we have to capitalizee locomotive engine my question is about the rate of depreciation on SM basis and category in which it should be capitalize?
honararium for the month of march 2013 can be paid on 31 mar 2013
different between acconting and elective mathematics
Where we show Service Tax Due ( Debit Balance ) in Balance Sheet?
Can someone tell me about SAP FI/CO test questions?WHat are the main things we must know?
Short Answer on _________Financial accounting
how to do the recurring entries or steps to follow that
why are you selecting for the controlling area same company code?
what is duties and responsibilities for clark working in sbi
What is compensation theorem?
How the sub ledgers(AP, AR) integrate with GL liability and receivable
