Final Accounts of Companies Acc to the sec 210 of companies act, “It is mandatory for the companies to prepare their Final accounts every year.”

Basic Financial Statements Profit and Loss Account Balance Sheet

Difference between Profit and loss A/c and Profit and loss app A/c Items Results Closing Preparation Balance

Adjustments for the preparation of final Accounts Interest on debentures Discount on issue of debentures Doubtful Debts Proposed Dividend

Special Items related to Trial Balance Depreciation Outstanding Expenses Pre Paid Expenses Closing Stock Advance Payment of tax Share Transfer fees Income Tax Dividend to shareholders

Interim Dividend Unclaimed dividend Dividend received Calls in arrear Calls in Advance Forfeited Share Account Securities Premium Account