Tag Archives | General Instructions

Preparation of Statement of Profit And Loss Account

In this article we will discuss about the General Instructions for Preparation of Statement of Profit And Loss Account. I. The provisions of this part shall apply to the income and expenditure account referred to in sub-section (2) of section 210 of the Act, in like manner as they apply to a statement of profit and loss. II. In respect [...]

By Vinita B|2016-06-28T10:12:43+00:00June 28, 2016|Final Accounts|Comments Off

General Instructions for Preparation of Balance Sheet

In this article we will discuss about the General Instructions for Preparation of Balance Sheet. A. Current Assets: 1. An asset shall be classified as current when it satisfies any of the following criteria; (a) It is expected to be realized in, or is intended for sale or consumption in, the company's normal operating cycle; (b) It is held primarily [...]

By Vinita B|2016-06-28T10:12:43+00:00June 28, 2016|Final Accounts|Comments Off

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