how did prepare the trail balance & profit & loss A/c and
balance sheet
Answer / rishabh shah
India follows IASB (International Accounting Standard
Board).Basically for any expenses or revenue their would be
an voucher entry and this vocuher would be inturn posted as
an Journal Entries. Jounral Entries works on three
standards,
1. Nominal Account
2. Real Account
3. Personal Account
Once the Journal Entry is prepared, it would be posted into
Ledger, Trial Balance, profit and loss statment and finally
Balance sheet.
Inshort it follows the below flow chart !!!
Voucher > Journal Entry > Ledger > Trial Balance > Profit
and Loss Account > Balance Sheet.
Is This Answer Correct ? | 16 Yes | 1 No |
Do you know what qualities and skills make an account manager successful?
What is entry of Dishonored cheque issued to supplier
what is factoring
1 Answers Capital IQ, Pyroferus,
If A Company pays amount thru bank for a supplier deducting tds on behalf of B company. Accounting entries to be made in company A and B
how much deduction want while salary paid?
My company has taken a car Full payment car cheq throw after loan from ICICI Bank, Assume . Plz pass the entry umesh
f-form is issued for transfer of good.is issued on purchsing amount or sale amount on which tax is paid.
What is meant by turnover?
What is the TDS rate for Salary???????
What was your most complicated sales cycle in past positions?
WHAT IS FORM 'H".AND WE CAN USE THAT FROM 'H'
how to pass journal entries for reverse tax on input tax paid