Documente Academic
Documente Profesional
Documente Cultură
and
Reports to be Annexure
` By: Dhirender Kumar
Rakesh Kumar
Devender Kumar
Manish Kumar
Fanish Kumar
Ajay Kumar
Final Accounts
To know profitability
For decision making
To measure growth
To control over expenses
Users of Financial statements
Management of Company.
Shareholder & Potential Investors
Lenders and Creditors
Employees and Trade Unions
Government
Stock Exchange
Guide lines regarding Final
Accounts under Indian Company Act
1956
Section 210 of Indian Companies Act 1956
provide that at the Annual General Meeting, the
Board of Directors of the Co. have to present
Financial Statement before the members.
Final Account
Final Account
Manufacturing
Account
.......... ..........
Trading Account
………. ……….
Pro-forma of Trading Account in
presence of Manufacturing Account
………………. (Name of the Firm)
Trading Account
Dr. for the year ending …… Cr.
Particular Amount Particular Amount
To Opening Stock of finished By Sales ………
goods ………. Less: Returns ……... ……….
To Cost of production of By Closing Stock of finished
finished goods transferred goods ……….
from Manufacturing Account ………. By Gross Loss c/d ……….
To Purchases of
finished goods ………
Less: Returns ……...
To Carriage ……….
To Gross Profit c/d ……….
………. ……….
Profit & Loss Account
………. ……….
Balance Sheet
A statement which sets out the asset and
liabilities of a firm or an institution as on a
certain date.
129000 129000
Balance Sheet
As on 31-03-2009
Liabilities Amount Assets Amount
Capital 225000 Fixed Assets
Less: Drawing 25000 Land & Building 200000
Add: Net Profit 111000 311000Machinery & Furniture 50000
Current Liabilities Less: Depreciation 5000 45000
Bills Payable 3500Current Assets
Creditors 17500Bills Receivable 15000
Outstanding wages & salaries 500Debtors 30000
Less: Sales on
approval basis 15000
Less: Provision for
bad debts 1500 13500
Cash and Bank 25000
Prepaid Insurance 2000
Stock in trade 20000
Add: Sales on
approval Basis 12000 32000