Jun 21, 2007
|t is the summary of such accounts which effect the profit or loss of the concern. These are prepared by transferring from the trial balance all nominal accounts and accounts relating to goods by means of journal entries called 'closing entries'. All remaining accounts i.e. real and personal, relating to properties, assets, debtors and creditors are shown in the balance sheet. In order to know the overall picture of the effect of these accounts they are grouped at one place. Items' increasing profit (revenue) are put on one side (credit) and those decreasing profits (losses and expenses) on the other side (debit). The balance is either net profit or net loss. This income statement is normally divided into two parts - first part is called trading account and second part is called profit and loss account. The procedure for preparing various accounts is discussed in details in this article. |
HiTech Group: Accounting software, business management software, HiTech Accounting Software, automobile accounting and more. Click the link to follow. Security Industry accounting software, Alarm dealer accounting software, systems integrator accounting software, AlarmKey software and job cost software, accounting software for hotels, hospitals.
Financial Accounting Software Reseller Sign up, To get complete information on advanced financial accounting for business software, click here. Resellers are invited to visit for trial download of Financial Accounting software for Traders, Industry, Hotels, Hospitals, petrol pumps, Newspapers, Automobile Dealers, Web based Accounting, Business Management Software.
Business Accounting Software Promotion by Resellers, Related to top accounting software in software and web applications for business. Resellers are invited to visit for trial download of Financial Accounting software for Traders, Industry, Hotels, Hospitals, petrol pumps, Newspapers, Automobile Dealers, Web based Accounting, Business Management Software.
Auto Dealer Software, Car Dealership Software, Accounting Software), Click here for business and accounting and Free Accounting Software Download for Various Business. Billing, Inventory control Accounting Software, Software for automobile dealers, two wheelers dealers, service stations. Modules :Customers, Suppliers, Products, Automobiles, Sales, Purchase, Accounts & Utilities. Free Trial Download.