final accounts of companies acc to the sec 210 of companies act, “it is mandatory for the...
TRANSCRIPT
Final Accounts of Companies
Acc to the sec 210 of companies act, “It is mandatory for the
companies to prepare their Final accounts every year.”
Basic Financial Statements
• Profit and Loss Account• Balance Sheet
Difference between Profit and loss A/c and Profit and loss app A/c
• Items• Results• Closing• Preparation• Balance
Adjustments for the preparation of final Accounts
• Interest on debentures• Discount on issue of debentures• Doubtful Debts• Proposed Dividend
Special Items related to Trial Balance
• Depreciation• Outstanding Expenses• Pre Paid Expenses• Closing Stock• Advance Payment of tax• Share Transfer fees• Income Tax• Dividend to shareholders
• Interim Dividend• Unclaimed dividend• Dividend received• Calls in arrear• Calls in Advance• Forfeited Share Account• Securities Premium Account