Final Accounts
Final Accounts
Final Accounts
- Final account is the final process of accounting.
- Final accounts consist of...}
Final Accounts
Trading Account
- Trading account is the first step of final accounts.
- Trading account is prepa...}
Final Accounts
Profit and Loss Account
- Profit and loss account is the second step of final accounts.
- Profit and los...}
Final Accounts
Balance Sheet
- Balance sheet is a statement of assets, capital and liabilities of the busin...}
Final Accounts
Items Included in Balance Sheet
- Capital is an amount, which is invested by the owner for the establishment and operation of...}
Final Accounts
Adjustments in Final Accounts
- The transactions, which do not appear in the trial balance, are to be noted as adjustments....}
Final Accounts
Items Included in Profit and Loss Account
- Profit and loss account is prepared in the form of ledger and hence it contains two sides:...}
Final Accounts
Items Included in Trading Account
- Trading account contains the items relating to stock, purchases, sales, direct expenses and...}