Answer Posted / rishabh shah

India follows IASB (International Accounting Standard
Board).Basically for any expenses or revenue their would be
an voucher entry and this vocuher would be inturn posted as
an Journal Entries. Jounral Entries works on three
standards,

1. Nominal Account
2. Real Account
3. Personal Account

Once the Journal Entry is prepared, it would be posted into
Ledger, Trial Balance, profit and loss statment and finally
Balance sheet.

Inshort it follows the below flow chart !!!

Voucher > Journal Entry > Ledger > Trial Balance > Profit
and Loss Account > Balance Sheet.

Why is accuracy important in accounting?

1044

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what is a register when referring to accounting or bookkeeping?

961

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can any one send me tally professional version link

1634

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Define trade bills?

1183

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I TRANSFERRED A STOCK OF RS. 100.00 FROM HEAD OFFICE DELHI TO MFG. UNIT OFFICE AT HARYANA AGST FORM F.AT BRANCH GOODS ARE PROCESSED AND ADDED VALUE OF RS. 80.00 AND TRNF BACK TO DELHI HEAD OFFICE FOR RS. 180.00 AGST FORM F FROM HARYANA . AND HEAD OFFICE SOLD THIS TO PARTY AT RS. 200.00 . I WANT TO KNOW HOW TO MAKE ACCOUNTING ENTRIES IN BOTH BOOKS HEAD OFFICE AND BRANCH OFFICE. TO SETTEL ACCOUNT AND TO CONSOLIDATE THE BOOKS AT THE END OF YEAR.

1941

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Purchase Goods worth rs.1000/ icluding vat of rs 40/ & Service charge receive 1000/ including service charge rs 123.60/ What will be entry in Tally? Please Define me?

1855

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Tell me in which account does the unpresented cheque will get recorded?

1039

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What is the difference between accrual

2077

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The main financial accounting statements?

1058

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Tell me what is public accounting?

1038

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Pass the journal entry: rent outstanding

1792

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What is the difference between trial balance and general ledger?

1068

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how to see reoprt of miro booking in SAP FI

2237

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WHY CST CHARGED BILLS ARE RETAIL INVOICES.IT CANT BE TAX INVOICE.

2058

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What is icai?

1174

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