Software Development Exam > Software Development Videos > Tally ERP 9: Complete Training > Final Account in Tally - Part 38 - Sub part 1
Final Account in Tally - Part 38 - Sub part 1 Video Lecture | Tally ERP 9: Complete Training - Software Development
FAQs on Final Account in Tally - Part 38 - Sub part 1 Video Lecture - Tally ERP 9: Complete Training - Software Development
| 1. What is a final account in Tally? |  |
Ans. A final account in Tally refers to the financial statements that are prepared at the end of an accounting period to summarize the financial performance and position of a business. It includes the balance sheet, profit and loss statement, and cash flow statement.
| 2. How can I generate a final account in Tally? | |
Ans. To generate a final account in Tally, follow these steps:
1. Open Tally software and select the company.
2. Go to the Gateway of Tally and navigate to Display > Account Books.
3. Choose the desired final account option, such as Balance Sheet or Profit & Loss Statement.
4. Select the appropriate date range and other filters.
5. Click on the "Show" button to generate the final account.
| 3. What is the purpose of a balance sheet in a final account? | |
Ans. The balance sheet in a final account provides a snapshot of a company's financial position at a specific point in time. It shows the company's assets, liabilities, and owner's equity. The balance sheet helps stakeholders assess the solvency, liquidity, and overall financial health of a business.
| 4. How can I interpret a profit and loss statement in a final account? | |
Ans. To interpret a profit and loss statement in a final account, focus on the following key components:
- Revenue: Look at the total sales or revenue generated by the business.
- Expenses: Analyze the various expense categories and identify any significant changes or trends.
- Gross profit: Calculate the difference between revenue and the cost of goods sold.
- Net profit: Assess the overall profitability of the business after deducting all expenses from revenue.
- Earnings per share: Calculate the net profit divided by the number of outstanding shares to determine the earnings per share.
| 5. Can Tally generate a cash flow statement in the final account? | |
Ans. Yes, Tally can generate a cash flow statement as part of the final account. The cash flow statement provides information about the cash inflows and outflows from operating, investing, and financing activities during a specific period. To generate a cash flow statement in Tally, go to Display > Account Books > Cash/Funds Flow.
Text Transcript from Video
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Johnny asam a finally comes basic
accounting I guess I just may have a
couch adjustment Connie
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financial period k anthem a make clothes
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outstanding her payable hair toe who
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expenses a on low
Sylla we mala expenses a banana Gua is
crooked
Athena c'est la vie
under indirect expenses apply on the
Ponte is PA a BM name implies kodi neeya
yogurt curd DJ oh yah
egor krit here outstanding outstanding
silly the account you have mahdi current
liability here
Fonterra disco apne bosco dinner
Johnny asam a finally comes basic
accounting I guess I just may have a
couch adjustment Connie
yeah adjustment cutting here
ha ha ha legit nummy account a modest
financial period k anthem a make clothes
burning with en busca vada um tweeting
and boyfriend lost count of the hair or
vanish with nothing to a mildly
important hair subsidy other adjustments
yeah
adjusting entries yeah adjusting entries
general watch a movie f7 me to Mali JK
thumbnail which silly a be paid Nikki
outstanding her payable hair toe who
score treatment yoga telomere - hey
expenses a on low
Sylla we mala expenses a banana Gua is
crooked
Athena c'est la vie
under indirect expenses apply on the
Ponte is PA a BM name implies kodi neeya
yogurt curd DJ oh yah
egor krit here outstanding outstanding
silly the account you have mahdi current
liability here
Fonterra disco apne bosco dinner
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Oct 24, 2024 Last updated |
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