# Accounts

## Accounting Equation Solved Problems for Class -11 (TS Grewal)

The accounting equation is like the foundation of a house, supporting everything built on top of it. In simple terms, it shows that everything a company owns (its assets) is funded either by what it owes (its liabilities) or by what the owners have invested (its equity). The accounting equation, fundamental to the double-entry accounting …

## Vertical Balance Sheet Format

The Final Accounts of a company refer to the annual financial statements consisting of (1) Profit and Loss Account which discloses the results of operation, either profit or loss, for a financial year, and (2) Balance Sheet which depicts the financial position of the company as on the closing day of the year. The Profit …

## CASH FLOW STATEMENT

MBA & BBA Study Material Reference : ICAI Books Cash Flow Statement Solved Sums and complete books available in the below mentioned link from ICAI https://resource.cdn.icai.org/66496bos53751-cp4-u2.pdf

## Limitations of Accounting – NMIMS Assignment

Accounting is a process of collecting, organizing, and analyzing information. It is used in business management to make decisions about products and services, resources, debt and equity, and taxes. The advantages of accounting are that it helps you understand where your money is coming from and where it’s going however accounting has its own limitations. …

## PROFIT & LOSS ACCOUNT

Advance Accounting INTRODUCTION The account that shows annual net profit or net loss of a business is called Profit and Loss Account. It is prepared to determine the net profit or net loss of a trader. P&L account is a component of final accounts. The profit and loss account shows what net profit and loss …

## PREPARATION OF BALANCE SHEET AS PER SCHEDULE III OF COMPANIESACT, 2013

Advance Accounting Section 129 of companies act 2013, provides for preparation of financial statements.  2(40) to include balance sheet, profit and loss account/income and expenditure account, cashflow statement, statement of changes in equity and any explanatory note annexed to the above. 3. New section 129 corresponds to existing section 210. It provides that the financial …