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Final Accounts Format PDF
Final Accounts are the accounts, which are prepared at the end of a fiscal year. It gives a precise idea of the financial position of the business/organization to the owners, management, or other interested parties. Financial statements are primarily recorded in a journal; then transferred to a ledger; and thereafter, the final account is prepared.
Usually, a final account includes the following components.
- Trading Account
- Manufacturing Account
- Profit and Loss Account
- Balance Sheet
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