Final Accounts

Final accounts are the accounts or statements prepared at the end of accounting period. Different business entities have different final accounts as manufacturer final account consists of manufacturing account, profit & loss account, profit & loss appropriation account etc. Final accounts of advertising company consist of manufacturing costs of an advertisement.

Trading Account

Learning Objectives: Define and explain trading account. (What is trading Account ?) What are the items of a trading account. Prepare the format of trading account. What are advantages of trading accounting? Definition and Explanation: A trading account is an account which contains, ”