Answer Posted / h.r. sreepada bhagi
Best way to learn finalization of accounts (Preparation of
P&L A/c & B/S) is to work in a Firm/Company fro some time
and learn it from experienced Accounts staff/Managers. You
can not start with preparation of Balance Sheet from the
beginning of your career. Basic requirement is to work and
get to know the documentation & accounting requirements.
Once you are through with it study the P&L & Balance Sheet
of the company for previous years, take guidance from
seniors and give a try yourself.
Since it has lot of implications, it's not something that
can be learned through a forum like this. If you work in any
Chartered Accountants Firm, then it will be the best place
to learn.
| Is This Answer Correct ? | 2 Yes | 1 No |
Post New Answer View All Answers
WHAT IS THE DEFINATIN OF IDENTICAL GOODS AND SIMILAR GOODS? WITH EXAMPLE?
Can i put opening stock in new company during closing time
What can go wrong if you have a balance sheet with a lot of debt? What can go wrong if there is negative owner's equity? What does a good cash flow statement look like and why?
Accounting transactions are recorded in accordance with thier legal form or substance. Briefly explain the legal form and substance of the accounting transactions and give one relevant example.
What is the objective of the balance sheet?
Is it compulsary to give TOEFL for applying US visa.
SHADOW BALANCE SHEET
What is the difference between perpetual and periodic inventory systems?
Fundamental accounting assumptions are (a) Materiality. (b) Business entity. (c) Going concern. (d) Dual aspect
what is the difference between accounting and bookkeeping?
During execution of Works Contract,If Contractee(Customer) supply goods to contractor, then it should be shown in Invoice as deduction or no need to show in Invoice.
what is addition of Opening Balance and net profit transfered from profit and loss account called
Explain what is account receivable?
What is executive accounting?
By saying, perpetual or periodic inventory system; what do we mean?
