Final accounts | Trading Account | Profit and Loss Account | Balance Sheet Basics
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In this video of accounting and Finance for banking explain in detail the basics of final accounts, trading account, profit and loss account or income statement account and balance sheet. Final accounts are collection of trading account, profit and loss account and balance sheet.
For a non commerce background banker or student it is difficult to understand the concepts of accounting. So this video will help you to understand the basics of accounts.
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This video also solves the queries:
What are final accounts?
What is trading account ?
What is balance sheet ?
What are profit and loss account?
How to prepare final accounts?
How to prepare balance sheet?
Differences between trading account and profit and loss account?
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