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What are the steps to follow at the time of finalization of accounts?

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تم إضافة السؤال من قبل Sharath kumar
تاريخ النشر: 2016/05/10
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FIRST CHK ALL EXPENSES/ASSET PURCHASED WHATEVER INVOICES SHOULD A/C FIRST SAME LIKE INCOME RECEIVABLES WHATEVER A/C FIRST

THEN WHATEVER MISSED THE ABOVE THINGS SHOLD MAKE ACCURAL EXPENSES /ACCRUED INCOME SCHEDULES PREPARE A/C IMMEDIATELY

MAKE PROVISION FOR COMPANY PROCEDURES -LEAVE SALARY/END SERVICE BENEFITS /TAX LIABLITY ETC.,

THEN PREPARE TRIAL BALANCE THEN PREPARE INCOME STATMENT/BAL SHEET

Sakhi Muhammad Imran
من قبل Sakhi Muhammad Imran , Finance Manager , United Catering Co. WLL

Check each account in detail

prepare unadjusted trail

Adjustment done

then Adjusted trail

then income statement

Balance sheet 

Cash Flow statement

equity statement 

Notes

 

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This is a good and useful question, I wish to find acceptable answer

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