Hi Experts
This query is : Resolved
29 May 2017
my client is closing his private limited company in this month. so i will have to prepare two finanical statement i .e., ending march 2017 and the other may 2017..am i right??
also what reports should i need to give in case of closure of company along with balance sheet??
30 May 2017
In case of the closure of the company, the financial statement cannot be prepared on going concern basis. The same has to be stated in the notes of the company which is being closed. The financial statement has to be prepared on cash basis.
30 May 2017
Moreover, you need to check it out that all the liabilities has been paid off and assets amount to zero.
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