Learning Materials For Accounting, Management , Finance And Economics.

Monday, December 21, 2009

Preparation of Final Account

Final account is the combination of income statement and balance sheet. The final account is prepared at the end of every year which may be a calendar year or other also.

Normally final account includes the following items.


1. Trading Account

2. Profit and loss Account

3. Profit and loss Appropriation Account

4. Balance Sheet