Accounts finalization

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sandeep (Querist)
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29 June 2012
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What is mean by accounts finalization and what are the different activities/functions involved in it.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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29 June 2012 Accounts finalisation involves the Closing of books of accounts for the particular period under Accrual system of accounting with booking all the expenses & incomes & other provisions which related to the particular accounting period has been booked correctly and arrive the financial statements like Trial Balance, Profit& loss a/c, Balance sheet, Notes to accounts etc.

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