Revaluation account and Realisation account both are nominal account. the purpose of revaluation account is taking the effect of fluctuations in asset & liabilities in their books while purpose of realisation account is to closing the books of accounts of a comapany or a firm. Revaluation a/c is made when any fluctuation in value of an asset takes place. realisation a/c is made at the time of liquidation of a company or a firm.
realization account... never heard but what i know if you sold something like equipment.. that equipment was realized.. so realization took place there
When company goes to liquidation process then realization account is created which is a temporary account and all assets and lialibilities are realized through this account and after realization there may be surplus or defeciancy in realization account.
yes
Describe the data which will be used to prepare the account receivable aging report
Revaluation account and Realisation account both are nominal account. the purpose of revaluation account is taking the effect of fluctuations in asset & liabilities in their books while purpose of realisation account is to closing the books of accounts of a comapany or a firm. Revaluation a/c is made when any fluctuation in value of an asset takes place. realisation a/c is made at the time of liquidation of a company or a firm.
realization account... never heard but what i know if you sold something like equipment.. that equipment was realized.. so realization took place there
When company goes to liquidation process then realization account is created which is a temporary account and all assets and lialibilities are realized through this account and after realization there may be surplus or defeciancy in realization account.
Realisation
bill wise detail (on account)
yes
By preparing Receipts & Payments Account, Income and Expenditure Account and a Balance sheet.
how to prepare the forecast report of profit and loss account with balancesheet
For GOD realisation
cheques are sent for collection to the issuers bank and after if they clear the cheque the amount is realised and hence it is called subject to realisation.
The cast of Eti..... Realisation Begins - 2008 includes: Gaurav Chatterjee
Describe the data which will be used to prepare the account receivable aging report