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Accounting for People Who Think They Hate Accounting by Anurag Singal

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Chapter 6

Final Accounts

Congrats! We have reached the most interesting part of financial accounting, that is, Final Accounts.

These are in the true sense the financial statements of the company. It is compulsory for the Board of Directors of the company to present in its Annual General Meeting (AGM) the financial statements before the company. It reflects the financial position of the company at the end of the period.

The overall financial performance of the company, which is of main interest to the managers and corporates, is ascertained through Final Accounts.

Financial Statements include:

  • Balance Sheet
  • Profit and Loss A/c
  • Cash Flow Statement
  • Statement of changes in equity, if applicable
  • Any explanatory note forming part of or annexed to ...

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