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To browse Academia. In the novel, we meet a year old Danish professor of philosophy, who is ranked among the top 10 smartest people on the planet. Despite her innate arrogance and detachment from the people around her, she somehow manages to fall in love. It would not have been such a big thing if the object of her infatuation was not one of the most unostentatious students of hers.
She is soon to realize the staggering fact that behind her irrational feelings towards this boy, there lies a mystery that even the most daring philosophical mind is unable to rationalize and explain. Binayak P Rajbhandari. Preparation of final account is the last stage of the accounting cycle.
The basic objective of every concern maintaining the book of accounts is to find out the profit or loss in their business at the end of the year. Every businessman wishes to ascertain the financial position of his business firm as a whole during the particular period. In order to achieve the objectives for the firm, it is essential to prepare final accounts which include Manufacturing and Trading, Profit and Loss Account and Balance Sheet.
The determination of profit or loss is done by preparing a Trading, Profit and Loss Account. The purpose of preparing the Balance Sheet is to know the financial soundness of a concern as a whole during the particular period. The following procedure and important points to be considered for preparation of Trading, Profit and Loss Account and Balance Sheet. Account is to ascertain the cost of goods manufactured or cost of goods sold, which is transferred to the Trading Account. This account is debited with opening stock and all items of costs including purchases related to production and credited with closing balance of work in progress and cost of goods produced transferred to Trading Account.