I have a doubt in Balance Sheet, Can we prepare balance sheet on monthly basis, If yes how to calculate depreciation and other things, please let me know
It all depends upon your Wish to prepare Balance Sheet.. you can make prepare it Yearly, Monthly, Weekly or daily...
Balance Sheet is Statement of Assets & liabilities on one particular date...
Regarding your Query about depreciation...
You can prepare your P&l without Depreciation and prepaid Expenses or you can proportionately deduct dep and Expenses to have more correct view of your profit.
CAclubindia
