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Production of annual accounts by the businesses will result in the following.
- Total purchases and total sales effected during the year.
- Net purchase value will be arrived after deducting the Closing Stock
- Profit earned in the business or loss if any in the business will be arrived
- Direct expenses and indirect expenses will be calculated and there is possibility to cut the expenses if any to the extent of profit earned or to expand the business if there is huge gain including the hike of salary to staff and profit sharing among the partners.
- Duties and taxes if any payable to exchequer will be calculated for payment or duties and taxes if any paid in excess of the due will be arrived to get refund.
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ABHIVIRTHI Tax and Industrial Consultancy
R.R.JAGADEESAN
VAT PRACTITIONER AND INDUSTRIAL CONSULTANT
H-63, Palaami Enclave
New Natham Road
Reserve Line,
Madurai - 625014
Cell: 9994990599.
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A firm has a days sales outstanding of 40 days and its annual sales are 7300000 what is the accounts receivable balance?
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A firm has a days sales outstanding of 40 days and its annual sales are 7300000 what is the accounts receivable balance?
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How can I find out if a trust attorney is cheating me out of money now or has in the past.?
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What are the annual compliance requirements for a Partnership?
Partnership firm will have to file their annual tax return with the Income Tax Department. Other tax filings like service tax filing or VAT/CST filing may be necessary from time to time, based on the business activity performed. However, annual report or accounts need not be filed with the Ministry or Corporate Affairs, which is required for Limited Liability Partnerships and Companies.
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Should Accounts be capitalized in accounts payable?
Accounts Payable should be capitalized if using the phrase as a proper noun. If not then it does not need to be capitalized.
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There are a few different types of credit you can get for your business. You can get vendor credit, which is different store accounts, and gas cards, etc. Then there is bank credit. In order to get bank credit you will need to have a pretty strong business credit score.
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for fun.
