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Accounting For Managers - Accounting Process

Preparation Of Financial Statements

   Posted On :  25.01.2018 10:54 pm

Now everything is set ready for the preparation of financial statements for the accounting period and as of the last day of the accounting period. Generally agreed accounting principles (gaap) require that three such reports be prepared:

(i)        a balance sheet

(ii)      a profit and loss account (or) income statement

(iii)    a fund flow statement

 A detailed discussion on these three financial statements follows in the succeeding lessons.

Tags : Accounting For Managers - Accounting Process
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