The document discusses the final accounts of a company which are prepared at the end of a fiscal year to provide a clear picture of the company's financial position to management and other stakeholders. The final accounts consist of a balance sheet according to Schedule III of the Companies Act 2013 and a statement of profit and loss. The balance sheet outlines the company's equity and liabilities including shareholders' funds, as well as its assets classified as current or non-current. The statement of profit and loss summarizes the company's revenues, costs, expenses, and earnings per share for a specified period. The objectives of preparing final accounts are to determine profit or loss, financial position, and act as a source of information for users.

1. COMPANY’S FINAL
ACCOUNTS
Submitted-To
Dr Pooja jain
Submitted- By
Aditya Kanchan ,Arjit Agrawal
Gunjan Deo ,Divyanshi gupta

2. MEANING OF FINAL ACCOUNTS OF
COMPANY
 Prepared by a joint stock company at the end of a fiscal
year. The purpose of creating final accounts is to
provide a clear picture of the financial position of the
organisation to its management, owners, or any other
users of such accounting information.
 Final account preparation involves preparing a set of
accounts and statements at the end of an accounting
year. The final account consists of the following
accounts:

3. OBJECTIVES OF FINAL ACCOUNT OF A COMPANY
PREPARATION
1) To determine profit or lossincurred by a company in a givenfinancial period
2) To determine thefinancial position of the company
3) To act as a sourceof informationto convey the users of accounting information (owners, creditors,
investors and other stakeholders)aboutthe solvencyof thecompany.
4) To improveeconomic development in the country by promoting entrepreneurship.
5) To promoteCorporate Governance in India.

4. Balance Sheet of a Company as per
Schedule III of the Companies Act
2013》

7. Schedule III of the Companies
Act, 2013
PART II – STATEMENT OF
PROFIT AND LOSS

10. EQUITY AND LIABILITIES:-
• Shareholders’ fund is an account on a company’s balance
sheet that consists of share capital plus retained
earnings. It also represents the residual value of assets
minus liabilities. Shareholders fund basically accumulated
funds of shareholders that’s why it is the major head
under equity and liabilities part of company balance
sheet.
• Accounting equation: Shareholders’ fund = Assets-
Liabilities.

11. ASSETS:-
• An asset is an item that the company owns, with the
expectation that it will yield future financial benefit. This
benefit may be achieved through enhanced purchasing
power (i.e., decreased expenses), revenue generation or
cash receipts.
• Different types of assets current and non current.

12. STATEMENT PROFIT AND LOSS:-
• Profit and loss (P&L) statement refers to a financial
statement that summarizes the revenue costs, and
expenses incurred during a specified period, usually a
quarter or fiscal year.
• And many more heads comes under it like revenue from
oprations,other incomes, earning per share.

13. THANKYOU