Kindly help for following question for CCA examination at the earliest.
Paper : Management Accountancy
Que: Describe the procedure of determining sales and profit variances. Are they similar in certain
respects?
Paper : Advance Accounting
Que : What are the legal requirement regarding the preparation of company Final Accounts?
Regards Accounintg.
The balance sheet & P&P account sahll be prepared in accordance with the requirement of Schedule VI to the co's act. The BS shud be as per Part I & the P&L shud be as per part II of Schedule VI. The Profit & Loss appropriation shud be as per Part III of teh Schedule VI. The Notes to accounts should be as part iV. whihc shud contain all the details relating to the share capital of teh company. The format of BS & P&P shud be in the vertical form. It is requriemetn that a Cash Flow statement should aslo be prepard whihc shud form part of the Final accounts.
CAclubindia
