final account là gì

From Wikipedia, the không lấy phí encyclopedia

Final accounts gives an idea about the profitability and financial position of a business lớn its management, owners, and other interested parties. All business transactions are first recorded in a journal. They are then transferred lớn a ledger and balanced. These final tallies are prepared for a specific period. The preparation of a final accounting is the last stage of the accounting cycle. It determines the financial position of the business. Under this, it is compulsory lớn make a trading tài khoản, the profit and loss tài khoản, and balance sheet.

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The term "final accounts" includes the trading tài khoản, the profit and loss tài khoản, and the balance sheet.

Legal provisions[edit]

Sections 209 lớn 220 of the Indian Companies Act, 2013 khuyến mãi with legal provisions relating lớn preparation and presentation of final accounts by companies. Section 210 giao dịch with the preparation of final accounts by companies, while section 211 giao dịch with the size and the contents of the balance sheet and the profit and loss tài khoản.

Trading account[edit]

A trading tài khoản shows the results of the buying and selling of goods. This sheet is prepared lớn demonstrate the difference between the selling price and the cost price. The trading tài khoản is prepared lớn show the trading results of the business such as gross profit earned or gross loss sustained by the business. It records the direct expenses of a business firm.

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According lớn J. R. Batlibboi,

"The Trading Account shows the result of buying and selling goods. In preparing this tài khoản, the general establishment charges are ignored and only the transactions in goods are included."

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Profit and loss account[edit]

This tài khoản is prepared lớn ascertain the net profit/loss and expenses of a business during an accounting year.It records the indirect expenses of a business firm, lượt thích rent, salaries, and advertising expenses. Profit and loss a/c includes expenses and losses as well as income and gains, which have occurred in business other than vãn the production of goods and services.

Balance sheet[edit]

The balance statement demonstrates the financial position of a business on a specific date. The financial position of a business is found by tabulating its assets and liabilities on a particular date. The excess of assets over liabilities represents the capital sunk into the business and reflects the financial soundness of a company.

Now it is known as the statement of financial position of the company.