Entry for finalization a/c

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 August 2011 Dear Sir,

I am working in pvt limited company, i want to know the require entry for finalization of account please.

What kind of precaution take in to the finalize the accounts

27 September 2011 Pass the entry for recording the Closing stock of the company as per physical intake

27 September 2011 pass the netry for the provisions of expenses that are pending at the end of the year


27 September 2011 If there ar any prepaid expenses, plz pass the necesaary entries for recording the prepaid expenses.

27 September 2011 Also look for the discounts from both the debtors and creditors which have not been recorded in the books. Write off all those discounts, if any unaccounted

27 September 2011 You can also provide provision for the discounts on debtors and also on non-moving inventory and slow-moving inventory

27 September 2011 Also book the provision for depreciton on asset or directly charge the depreciation on the fixed assets

27 September 2011 please also provide for the provion for taxes of the current Financial year calculating the tax laibilty


27 September 2011 Prepare Fixed Asset register for the Asset and also list of Inventory as on clsoing date

27 September 2011 Also ensure while booking the variuos cash exopenses of the year that the cash balance was not negative at any point of time

27 September 2011 you can also calculate the deffered tax asset/liability as per AS-22 Accounting for taxes, if any



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