opening balance

Ajay Prajapati (512 Points)

17 July 2017  
last financial year 16-17 closing balance ... only assest and liablities goes to next financial year's 17-18 opening balance .... is finacial year 16-17 net profit or net loss amount goes forward to our next financial year 17-18 opening balance... if yes to how we adjust this amount to our opening balance pls explain ?