last financial year 16-17 closing balance ... only assest and liablities goes to next financial year's 17-18 opening balance .... is finacial year 16-17 net profit or net loss amount goes forward to our next financial year 17-18 opening balance... if yes to how we adjust this amount to our opening balance pls explain ?
Previous FY cl.bal is Next FY op.bal you know. The net profit ll be add to Proprietor's Current Account or Capital Account. If loss also ll be opposite. So, Simple. Are you understand...?!
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CAclubindia
