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Shall we i) first complete our working note calculations and then prepare the necessary Accounts, or ii) is it compulsory to show our working notes only after the preparation of Accounts .I.e. at the end of the sum. I am used to i). So, please guide me.
Answers (5)
Best Answer
U need to do workings before deriving main answer. It can be done at start itself. Suppose for better presentation say u need to prepare trading account profit and loss and balance sheet. Leave first 3-4 pages based on no of items in trial balance and then start working note. (For NPO, partnership,final account) For shares leave 4-5 pages for journal entries. For consignment leave 2 pages and continue. If u can't estimate then do at the start itself.
