Final Accounts

Accounts which are prepared to show the profit and loss and financial position of business are called final accounts.

The money statements of a company created up at the tip of associate degree accounting amount, sometimes the twelvemonth.

For a manufacturer, the ultimate accounts accommodates (1) producing account, (2) commercialism account, (3) profit and loss account, and (4) profit and loss appropriation account. an ad company's final accounts can embody all of the higher than except the producing account. Together, these accounts show the profit, net income, and distribution of net profit figures of the corporate.