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book keeping

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(Querist)
13 August 2010 i am incorporate a pvt. ltd. company then what is the procedure of its accounting because my firm already a proprietership firm now become a pvt. ltd. co.
can may i merge its business before the registration of co.
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VINOD ARORA

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VINOD ARORA (Expert)
13 August 2010 your business may be taken over by the co. if the same is included in the objects clause.

Section 209 of the Companies Act provides for the requirement of the books of account to be kept by the company. In brief, the following details to be mentioned in the books of accounts

1)all sums of money received and expended by the company and the matters in respect to which the receipt and expenditure takes place
2)all sales and purchases of goods of the company
3)the assets and liabilities of the company
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