Everyone should to know
MPR Sanjay Kumar (3106 Points)
20 December 2022REALIZATION AC
MPR Sanjay Kumar (3106 Points)
20 December 2022
Mitali
(Finance Professional)
(13303 Points)
Replied 20 December 2022
When the firm is dissolved, its books of a/c are to be closed and the profit or loss arising on realisation of its assets and discharge of liabilities is to be computed.
For this purpose a realisation a/c is prepared to ascertain the net profit or loss of realisation of assets and payment of liabilities which is transferred to partner's capital accounts in their profit sharing ratio.
Yasaswi Gomes new
(Finance )
(4503 Points)
Replied 21 December 2022
Realisation accounting is not there in Indas. I like it to be redundant as well. Try the altman z score to predict bankruptacy. These scores work and ive done m score test on projection and it work like a babe. Visit my blogspot yasaswigomes.blogspot.com
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)