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Finalization of Accounts

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(Querist)
17 November 2008 What is finalization of accounts ? What are the broad steps involced in the process of finalization of accounts?
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Deepak Agrawal

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Deepak Agrawal (Expert)
17 November 2008 Finalization of accounts means preparing notes to accounts, finalizing profit/loss & balance sheet...
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
18 November 2008 Finalisation of accounts is the proocess of preparing of Final Accounts as on a cut off date and involves the compliance to various accounting policies and standards and notes to accounts etc.
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