Final Accounts

The financial statements of an organization made up at the end of an accounting period, usually the fiscal year. For a manufacturer, the final accounts consist of manufacturing account, trading account, profit and loss account, and profit and loss appropriation account. A commercial company’s final accounts will include all of the above except the manufacturing account.

Final Accounts

Final Accounts are the accounts that are prepared to find the final estimate of the profit and loss of a company for a certain accounting period. Final accounts are used to describe the final position of the business. Final accounts are the accounts that