how can i prepare financial statement?
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WITH THE USING OF FINANCIAL DATA RELATING TO THE BUSINES
FINANCIAL DATA MEANS TRIAL BALANCE AND OTHER DATA
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Answer / muhammad ramzan
financial statements are prepared by balances of accounts
from adjusted trial balance.profit & loss is prepared
first,then balance sheet & then cash flow statment.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / vicky
You have to prepare income earning first, then retain
earning , then balance sheet ( because to prepare retain
earning, you need to have net income or net loss), and
balance sheet statement needs retain earning.
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / lalitha
Financial Statement includes trading and profit and loss
account and balance sheet of the organisation for a
relevant period.
First prepare Trading Acc to find out GROSS PROFIT/LOSS
profit and los acc to find out NET PROFIT / LOSS
balance sheet to show the affairs of the company
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / lxmi1972
Financial Statement means- Profit and Loss Account and
Balance Sheet.
Profit and Loss Account shows the current year Net Loss or
Profit of the Business for the desired year and the Balance
Sheet is the status of Assets and Liabilities of the
business entity and hence these should be prepared in
accordance with the Accounting Standards issued by ICAI.
Notes are important for the contingent Liabilities, Events
occuring after the Balance Sheet date.
| Is This Answer Correct ? | 1 Yes | 0 No |
What are the basic principles of an internal audit controlsystem?
before appoinment, an auditor owes to a company more than rs.1000 and he clears his debt before appointment.he is due to company upto 30-06-06.he is give his report between 01- 04-06 to 31-03-07.what is the duty of the auditor while reporting on the transactios occured in his due period
1. When is GRN raised? 2. what is the purpose of matching open PO listing against GRIR account?
What is an audit process?
if bill has came for payment for car repair purpose in bill they mentation total parts value is 21000 and labour 13000 with total of 34000 inthat on parts vat is include so we have to deduct tds u/s 194c @2% on full amount of 34000 or not(bill is single for whole 34000 purpose_
3 Answers Maruti Suzuki, Thermotech Engineers,
What are the different types of audits?
what is rate of tds in present financial year
tds effect in balance sheet if tds receipts
What should the internal auditor?
what is the abervation of tds
State with reason which account should be debited and which account should be credited in each of the following transactions: 1. Raj commenced business with cash Rs. 5000 2. Bought goods from Kiran for cash Rs. 1000 3. Sold furniture to Ravi on credit Rs. 500 4. Sold goods for cash Rs. 800 5. cash purchases Rs. 600 6. Bought Stamps Rs. 10 7. Withdrew cash from the business for personal use Rs. 1000 8. Paid salary to manager Rs. 500 9. Paid rent to landlord Rs. 200 10. Received commission from Mani Rs. 50 11. Paid for repairing machinery Rs. 30 12. Received cash form Ravi on account Rs. 400 13. Gave loan to Babu Rs. 500 14. Purchased goods from Sachin Rs. 400 15. Opened a bank account with Rs. 1000 16. Charged Mohan Rs. 50 commission for service rendered to him 17. Santosh paid the interest on loan advanced to him 18. Received loan from Manju Rs.10000 19. Office furniture stolen Rs. 500 20. Paid income tax Rs. 5000 21. Paid life insurance premium Rs. 300 22. Allowed discount to Babu Rs. 90 23. Discount received from Santosh Rs. 150 24. Amount charged by bank as bank charges Rs. 30 25. Railway fright paid on machinery purchased Rs. 100
wether OT is included in gross salary or not?
Audit 
