The closing of accounts

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At the end of the financial year after the preparation of the financial statements, some of the accounts are closed and its assets and some of the accounts is recycled and deported to the following financial period, the accounts can be classified for the purpose of the closure of the accounts of the real (permanent) and nominal accounts (temporary).

The real accounts (permanent)
it is not closed, and be deported and recycling of assets to the following financial period, which included all the existing accounts in the list of the financial center, and the accounts of the assets, liabilities and capital.

Nominal accounts (temporary)
and accounts that are closing balances at the end of the financial period, so that its 0, which includes the calculation of income and the calculation of the expenses on the income list, and the closure of these accounts in a special account called's profit and loss account (income), so as to close the expenses to the assets of the city by making it a creditor, and returns the revenue account of credits by making it a city, as follows:

Under the closure of expenses: the
debtor and the secured creditor statement
xxx from h/profits and losses (summary income)
to figuring
xxx h/administrative expenses and universalism
xxx h/sales and marketing expenses
xxx h/expenses for other losses the
closure of an expense account and other losses
under the closure of income:
a creditor of the debtor's statement
of the Securityof
xxx
xxx H H/income/revenue and other benefits
xxx to h/profits and losses (summary income)
closing the revenue account and other benefits
account closure A summary of profit and loss (income):
After the closure of the expense of expenses and revenues in the profit and loss account, the balance of profits and losses a debtor if the expense more revenue and this means that the Treaty had achieved a loss at the end of the period, the balance shows a creditor if income greater than expenses, this means that the Treaty had achieved a profit, and then lock the profit and loss account (Summary of income) in one of the accounts of the property rights (capital or current account, the owner of the property or in the profit and loss account retention monies) as follows:

In the case of Profit: the
debtor and the secured creditor statement
xxx from h/profits and losses (summary income)
xxx to h/gary the owner or capital held by prof. during the
closure of the expense of prof. during in the expense of the owner or the capital account by prof. during detention
in the case of loss: the
debtor and the creditor The statement
xxx from h/gary the owner or capital held by prof. x
xxx to h/profits and losses (summary income)
closing the expense of prof. during the calculation of the owner or the capital account held by prof. x
Note: In practice, the closure of the profit and loss account (Summary of income) in the capital account would lead to a change in the balance of the capital account from one financial period to another, this leads to the difference of value of capital of what is recorded in the holding of the founding treaty this is contrary to the laws of some States, which requires a change in the capital to legal action, therefore, would prefer to be locked in a current account, the owner of the property or in the detainee's profit and loss account


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