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Teachers Manual Company Final Accounts (As per revised Schedule VI)Prepared By Mr. Ashish M Prank Assistant Professor, B M College of Commerce, Pune Mr. Vila's Y Boole Visiting Freelance Faculty Mr.

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How to fill out company final accounts

01

Gather all the financial records of the company, including income statements, balance sheets, and cash flow statements.

02

Review and reconcile all the transactions and ensure they are properly classified.

03

Calculate the company's net profit or loss by subtracting expenses from revenues.

04

Prepare the balance sheet by listing all the company's assets, liabilities, and owner's equity.

05

Analyze the financial ratios and trends to identify any areas of concern or improvement.

06

Prepare the cash flow statement by summarizing the company's incoming and outgoing cash flows.

07

Draft the financial statements in accordance with the relevant accounting standards or guidelines.

08

Seek assistance or consult with a certified accountant or financial professional if required.

09

Review and validate the final accounts to ensure accuracy and compliance.

10

Present the company's final accounts to stakeholders, such as shareholders, investors, or regulatory authorities.

Who needs company final accounts?

01

Company owners and shareholders who want to assess the financial health and performance of the company.

02

Investors and potential investors who need financial information to make investment decisions.

03

Lenders and financial institutions who require company final accounts for loan approval or credit assessment.

04

Regulatory authorities and government agencies who use the accounts for monitoring and compliance purposes.

05

Internal management and executives who need the accounts for strategic planning and decision-making.

06

Auditors and tax authorities who conduct financial audits or tax assessments based on the company's final accounts.

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What is company final accounts?

Company final accounts are financial statements that provide a comprehensive overview of a company's financial performance and position at the end of a reporting period.

Who is required to file company final accounts?

Companies registered under the Companies Act are required to file final accounts with the relevant regulatory authorities.

How to fill out company final accounts?

Company final accounts can be filled out by the company's accountants or financial professionals using the company's financial records.

What is the purpose of company final accounts?

The purpose of company final accounts is to provide transparency and accountability regarding a company's financial activities to shareholders, investors, creditors, and other stakeholders.

What information must be reported on company final accounts?

Company final accounts typically include a balance sheet, income statement, cash flow statement, and notes to the financial statements.

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