Vinayak C. Sontakki (CS- Assistant) (38 Points)
10 October 2011WHAT DO U MEAN BY FINAL ANNUAL ACCOUNT?
IS IT THE ACCOUNTS FINALISED, APPROVED & ADOPTED AT THE BOARD MEETING WHEN THEY SIGN IT.
OR
IS IT WHEN THE ACCOUNTS ARE APPROVED AND ADOPTED AT THE MEETING OF THE SHAREHOLDERS. I.E. THE AGM?
PLEASE REPLY
REGARDS,
VINAYAK C. SONTAKKI
prathiba
(company secretary)
(259 Points)
Replied 11 October 2011
hi,
The finalised accounts are the accounts audited and approved by the board and placed before the AGM for approval of shareholders. At the AGM, the shareholders have a right to raise queries on the accounts, and after the AGM, the financial statements are formally called the audited financial statements.
Vinayak C. Sontakki
(CS- Assistant)
(38 Points)
Replied 11 October 2011
Thank you for enlightening me on the mentioned topic
CAclubindia
