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Recent Trends

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Recent trends in published accounts

Under company it is compulsory for board of directors to present company annual general meeting, a copy of balance sheet ,p&l account together. These documents are prepared every year therefore these are also known as annual reports.

According to the section 210 of companies act 1956, it is compulsory for every company to presents its annual report before the shareholders in annual general meeting. this annual report Consist profit and loss account , balance sheet , directors report and auditors report. The board of directors of the company are required to publish these reports annually to provide information to the various interested parties. Therefore These published reports are also known as published accounts

We all know that accounting is a language of business to communicate the financial information to various interested parties. These interested parties involves investors , consumers , employers , employees , Traders , govt. , creditors etc. But a layman cannot understand the language of accounting therefore financial statement is not much useful for him. Therefore nowadays when every business organization tries to present it’s financial statement in simple way

Under company act it is compulsory to publish these reports. These are also known as published accounts.

OBJECTIVES OF PUBLISHED ACCOUNTS:-

1.To Give Information about performance of co. 2.To Give Information about difficulties faced by co. 3.To Give Information about sources & application of funds. 4.To Give Information about Property & Assets of co. 5.To Give Information about Liabilities of co. 6.To Give Information about Research &Development of work undertaken by co. & its Progress. 7.To Give Information about capital projects undertaken by co. 8.To Give Information mgt. & Employees relations. 9.To Give

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