Archive | Final Accounts

Top 5 Problems on Final Accounts of the Companies

Are you looking for problems and solutions of final accounts of the companies? You are at the right place! In this article we have compiled top five accounting problems on final accounts of the companies with its relevant solutions. Contents: Preparation of Profit and Loss Account, Profit and Loss Appropriation Account and Balance Sheet of […]

Final Accounts of the Companies: Top 5 Problems

Are you looking for problems and solutions of final accounts of the companies? You are at the right place! In this article we have compiled top five accounting problems on final accounts of the companies with its relevant solutions. Contents: Final Accounts Including the Computation of Depreciation, Managing Director’s Remuneration and Provision for Taxation Final […]

Top 3 Problems on Final Accounts | Examination

Are you looking for problems and solutions of final accounts of the companies? You are at the right place! In this article we have compiled top three accounting problems on final accounts of the companies with its relevant solutions. Contents: Final Accounts Including the Computation of Managing Director’s Remuneration Preparation of Final Accounts of a […]

How to Prepare Final Accounts of Companies? | Accounting

The following article will guide you about how to prepare final accounts of companies. We know that there is no hard and fast rule of preparing accounts of a sole proprietorship firm. But according to Sec. 209 of the Companies Act, every company is to prepare its Profit and Loss Account and Balance Sheet at […]

Final Accounts of the Companies (With Solutions) | Accounting

Are you looking for problems and solutions of final accounts of the companies? You are at the right place! In this article we have compiled top five accounting problems on final accounts of the companies with its relevant solutions. Contents: Calculating the Remuneration Paid to the Directors Preparation of Profit and Loss Account of a […]

General Instructions for Preparation of Balance Sheet

In this article we will discuss about the General Instructions for Preparation of Balance Sheet. A. Current Assets: 1. An asset shall be classified as current when it satisfies any of the following criteria; (a) It is expected to be realized in, or is intended for sale or consumption in, the company’s normal operating cycle; […]

Directors‘ Report and Auditors’ Report

Directors’ Report: Previously, it was the practice with most Indian companies to send to the shareholders a copy of the balance sheet and the profit and loss account accompanied by only the briefest possible report from the directors. Apart from matters dealing with the disposal of profits, i.e., recommendations regarding transfer to reserves and dividends, […]

Divisible Profits: Meaning, Entries and Illustrations

The below mentioned article provides an overview on Divisible Profits:- 1. Meaning of Divisible Profits 2. Transfer to Reserve 3. Declaration of Dividend out of Reserve 4. Depreciation 5. Payment of Dividend 6. Profit from Subsidiary Companies 7. Dividends 8. Appropriation of Profits 9. Separate Bank Account for Dividends 10. Interest out of Capital 11. […]

Contingencies and Balance Sheet Date | Final Accounts

In this article we will discuss about the Contingencies and Events Occurring after the Balance Sheet Date. Contingencies: The term “contingencies” used in this Statement is restricted to conditions or situations at the balance sheet date, the financial effect of which is to be determined by future events which may or may not occur Estimates […]

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