Correct way to finalisation of a/c.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 August 2010
What is the step by step correct way of finalization of a/cs.? What imp points/mistakes that should be keep in mind while finalisation of any company/organisation's final a/c.
30 August 2010
Scrutinise each ledger (assuming this is a small company with reasonable number of ledgers)
Establish that closing balance as at TB date can be explained.
Prepare the P&L, BS and CF
Compare the same with budget and also with previous year. Analyse the differences.
NB- The question is a bit of broad sense, so I am not sure I did justice to your question.
Establish that closing balance as at TB date can be explained.
Prepare the P&L, BS and CF
Compare the same with budget and also with previous year. Analyse the differences.
NB- The question is a bit of broad sense, so I am not sure I did justice to your question.
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