Revaluation account and Realisation account both are nominal account. the purpose of revaluation account is taking the effect of fluctuations in asset & liabilities in their books while purpose of realisation account is to closing the books of accounts of a comapany or a firm. Revaluation a/c is made when any fluctuation in value of an asset takes place. realisation a/c is made at the time of liquidation of a company or a firm.
realization account... never heard but what i know if you sold something like equipment.. that equipment was realized.. so realization took place there
When company goes to liquidation process then realization account is created which is a temporary account and all assets and lialibilities are realized through this account and after realization there may be surplus or defeciancy in realization account.
Yes. Profit and loss account is a nominal account and also trading a/c to be prepared at the end of the year.
Trial balance is the statement which shows the different items in the debit side and creditside of its format and in the end (generally) amounts both the sides would be same. it is prepared to know the mathematical accuracy. its format contains: Particulars-debit-creidit. Profit and loss account is an account which is prepared to find out the netprofit(or netloss) and its usually prepared after the trading account. Format of P&L account is Particulars-debit-particulars-credit
Revaluation account and Realisation account both are nominal account. the purpose of revaluation account is taking the effect of fluctuations in asset & liabilities in their books while purpose of realisation account is to closing the books of accounts of a comapany or a firm. Revaluation a/c is made when any fluctuation in value of an asset takes place. realisation a/c is made at the time of liquidation of a company or a firm.
realization account... never heard but what i know if you sold something like equipment.. that equipment was realized.. so realization took place there
When company goes to liquidation process then realization account is created which is a temporary account and all assets and lialibilities are realized through this account and after realization there may be surplus or defeciancy in realization account.
Realisation
Yes. Profit and loss account is a nominal account and also trading a/c to be prepared at the end of the year.
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.
For GOD realisation
cheques are sent for collection to the issuers bank and after if they clear the cheque the amount is realised and hence it is called subject to realisation.
The cast of Eti..... Realisation Begins - 2008 includes: Gaurav Chatterjee
Trial balance is the statement which shows the different items in the debit side and creditside of its format and in the end (generally) amounts both the sides would be same. it is prepared to know the mathematical accuracy. its format contains: Particulars-debit-creidit. Profit and loss account is an account which is prepared to find out the netprofit(or netloss) and its usually prepared after the trading account. Format of P&L account is Particulars-debit-particulars-credit
balance sheet
cheques are sent for collection to the issuers bank and after if they clear the cheque the amount is realised and hence it is called subject to realisation.