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Final Account 1

Final Account 1

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Published by ajaykumar051443
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Published by: ajaykumar051443 on Nov 15, 2009
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12/28/2012

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FINAL ACCOUNTSFINAL ACCOUNTSandandReports to be AnnexureRep
 
orts to be Annexure
``By: Dhirender Kumar By: Dhirender Kumar Rakesh Kumar Rakesh Kumar Devender Kumar Devender Kumar Manish Kumar Manish Kumar Fanish Kumar Fanish Kumar Ajay Kumar Ajay Kumar 
 
Final AccountsFinal Accounts
A formal records of businessA formal records of businesstransactions in order to have antransactions in order to have anoverview of the Companies profitabilityoverview of the Companies profitabilityand financial condition at the end of theand financial condition at the end of theyear.year.
 
RequirementReq
 
uirement
Money is invested in a business with the primaryMoney is invested in a business with the primaryaim of earning profit. For knowing this, it isaim of earning profit. For knowing this, it isnecessary that the Accountant must measure andnecessary that the Accountant must measure andaccumulate accounting data in such a manner thataccumulate accounting data in such a manner thata amount of profit earned or loss suffered by thea amount of profit earned or loss suffered by thebusiness may be determined and reported.business may be determined and reported.For the purpose of determining the profit or lossFor the purpose of determining the profit or lossfigure and financial position at the end of year afigure and financial position at the end of year astatement knows asstatement knows as
Final AccountFinal Account
is prepared atis prepared atthe end of accounting year which include all thethe end of accounting year which include all thefigures in details income, expenditure, assets andfigures in details income, expenditure, assets andliabilities of the Firm .liabilities of the Firm .

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