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Correct way to finalisation of a/c.

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 August 2010 What is the step by step correct way of finalization of a/cs.? What imp points/mistakes that should be keep in mind while finalisation of any company/organisation's final a/c.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
08 September 2010 Accounting of Expenses and incomes as accural basis, as and when they incurred is the basics for Fianlsation and cofirmation of ledger balances, creating provision for all aspects also required for finalisation
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