Interested to Buy Any Domain ? << Click Here >> for more details...
Why we show always closing stock in credit?
- 8 Answers
- 31301 Views
- FactSet Systems, I also Faced
- E-Mail Answers
Answer Posted / muhammad jahangir
"Matching Concept"
(expense compare with revenue)
according to matching concept we put the closing stock on
credit side of trading a/c.
only those
expenses which are related to earn the revenue are debited
to the trading & profit and loss account, so that we can
arrive at accurate profit$loss
purchase of raw material are recorded on debit side we need
to seprte the value of closing stock which does not match to
the revenue during year.
closing stock which is not utilized yet to earn revenue but
we use in future.so,put on credit side.....
| Is This Answer Correct ? | 15 Yes | 3 No |
Post New Answer View All Answers
What is the marginal cost formula?
what is groups and and ledgers in tally can you give why we need to prepare them
Do you know what is balance sheet?
What is the difference between lc and bg(letter of credit
What is creative accounting?
what are the disadvantages of back-flush accounting?
what is retention? how caculate on asset
Tell me what are the key tasks for account executive?
total assets are equal to total liabilities in final accounts ?why?
kindly send the TDS tariff on Security expenses, rents, transport charges etc.,
What is ERP? Diff b/w Income & Expenditure a/c & P/L a/c? What is the fullform & the application of SAP? What is the reasons where Balance sheet will not tally?
wht is different between defered tax liablities and defered tax assets??????
what is mean by sample account and data transfer rule in SAP FI?
Dear sir, In tally what is list of cost centres? and what is the list of cost categories?
What is accounting period?
