Finalisation of p&l & b/s

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Querist : Anonymous (Querist)

27 December 2013 what is the step of finalisation of P&L & B/S

Ganeshbabu K

Ganeshbabu K (Expert)
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27 December 2013 Please refer to below ,,may be helpful to you

https://www.caclubindia.com/experts/ledger-scrutiny-290265.asp

https://www.caclubindia.com/articles/ledger-scrutiny-backbone-of-statutory-audit-part-2--15001.asp

https://www.caclubindia.com/articles/-ledger-scrutiny-backbone-of-statutory-audit-14826.asp

https://www.caclubindia.com/articles/finalization-of-balance-sheet-part-iii--15406.asp

https://www.caclubindia.com/articles/finalization-of-balance-sheet-part-ii--15339.asp

https://www.caclubindia.com/articles/finalization-of-balance-sheet-practical-aspect--15257.asp#.UHM0g5jMhh4

Thanks & regards
Ganesh babu k

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Ganeshbabu K

Ganeshbabu K (Expert)
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27 December 2013 The following steps are require for ledger scrutiny:-

1)Proper grouping of ledgers
2)Adhearance to accounting principles
3)Adhearance to ICAI guidelines
4)Adhearance to the principles of double
entry system
5)Trend analysis in regular expenditure
6)Statutory compliances
7)Proper narration in entries
8)Long outstandings
9)Linkage between the grouping and the
nature of transaction entered into with various parties
10)Booking of expenditure
11)Linkage between accounting treatment and
narration
12)Proper accounting treatment
13)Entry in proper voucher type .

Thanks & regards
Ganesh babu