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Financial account and Financial statement
What is the difference between financial account and financial statement


  
Total Answers and Comments: 1 Last Update: November 19, 2007     Asked by: Pavan Kumar 
  
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 Best Rated Answer
Submitted by: parameswar.reddy
 
Financial Account is an Individual ledger of an account (Ex: Sales A/c, Purchase A/c, Vendor A/c, Customer A/c), whereas Financial Statement is a final picture of an organisation like Profit & Loss Account and Balance Sheet

Above answer was rated as good by the following members:
geetha.T
November 19, 2007 01:23:15   #1  
parameswar.reddy Member Since: November 2007   Contribution: 9    

RE: What is the difference between financial account a...
Financial Account is an Individual ledger of an account (Ex: Sales A/c, Purchase A/c, Vendor A/c, Customer A/c), whereas Financial Statement is a final picture of an organisation like Profit & Loss Account and Balance Sheet
 
Is this answer useful? Yes | NoAnswer is useful 1   Answer is not useful 0Overall Rating: +1    

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Why in the interview of accounts by a CA a candidate is asked that whether he knows to make the Reconciliation Statement?

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