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What is the format for manufacturing accounts
the main purpose for manufacturing account is to determine the cost of goods manufactured
yes
Income statement of manufacturing organization is same as for trading company with little difference in manufacturing company there is separate manufacturing account is also prepared.
There really is not any reasons as to why there would be an incomplete record. The only way would be from a computer error or just someone providing the incorrect information.
for a manufacturing concern it will be a manufacturing account and for a non manufacturing concern it will be a trading account or a profit and loss account or income and expenditure account.
What is the format for manufacturing accounts
No. It is a manufacturing control account that increases with debits and decreases with credits.
the main purpose for manufacturing account is to determine the cost of goods manufactured
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When preparing departmental trading and a profit and loss account, expenses must be taken into account first. These include departmental expenses, and common expenses, including administrative expenses.
yes
Income statement of manufacturing organization is same as for trading company with little difference in manufacturing company there is separate manufacturing account is also prepared.
By preparing Receipts & Payments Account, Income and Expenditure Account and a Balance sheet.
There really is not any reasons as to why there would be an incomplete record. The only way would be from a computer error or just someone providing the incorrect information.
Manufacturing account, on the other hand, is a financial statement which shows production costs