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Where do you put loan interest and bank overdraft in final accounts junior cert?
LauraWorthington
interest on bank overdraft.
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∙ 10y ago
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What are the duties of the final accounts department in an organisation?
The finance department of a company is responsible for preparing final accounts. The prepare the Balance Sheets and the profit and loss account.
How does compound interest work on loans?
It's when you have to pay interest on the principal cost and on the interest from past years.M = P( 1 + i )nM is the final amount including the principal.P is the principal amount.i is the rate of interest per year.n is the number of years invested.
Does bond pay interest on maturity?
Yes. At maturity you get the final coupon payment in addition to the return of principal.
How can you get CD interest rate?
You can get a CD interest rate by applying for one through one of several websites. You should investigate different rates before making a final decision.
What is the main purpose of producing a trial balance?
In the accounting process there will be various & those transactions will be journalised,posted in ledgers than according to the clasifications, after that balancing of ledger accounts will be made. After the end of the process before preparing Final accounts it is the duty of the accountant to satisfy him self about the correctness of the posting amounts and the balances. To know the arthimatical accuracy of the accounts the accountant will prepare Trial Balance which will help him to check the accuracy of the the accounts Biraj Joshi Nepal 0977-9849824360
How do you treat interest on debentures in final accounts?
is it a liability
How do you treat debenture interest in final accounts?
is it a liability
What are the characteristics of final accounts?
Final accounts are closed accounts at the end of a period in accounting. Final accounts cannot be changed and represent the transactions in an accounting period.
What are characteristics of final account?
Final accounts are closed accounts at the end of a period in accounting. Final accounts cannot be changed and represent the transactions in an accounting period.
What is matching concept?
while preparing final accounts, accounts should show accruals and prepayments.the net amount for the financial year should be shown in the final accounts
Why final accounts are prepared?
Final Accounts are prepared so that every entity can know its financial position, by so doing it enables management to know if they are performing well or not. Final accounts stakeholders and those who have interest whether direct and indirect to know how well the entity is performing. Such stakeholders are the media, shareholders, the government and its regulatory bodies like the IRS, vendors, potential investors who might want to invest in the entity in the following year or years down the line.
What is the proforma for final accounts?
Trial balance
What are the duties of the final accounts department in an organisation?
The finance department of a company is responsible for preparing final accounts. The prepare the Balance Sheets and the profit and loss account.
What is Junior-Senior GPA?
Junior yr - 3th yr Senior yr- 4th(final) yr & Junior/Senior CGPA means the avg of third and fourth yr
What is preliminary expenses in final accounts?
It is deffered cost
Where does general reserve appears in final accounts?
Asset side
What is the explanation for the liquidator's final statement of accounts?
The liquidator's final statement of account is the account of winding up.
