Proforma of Trading Account

Proforma of Trading Account

Company Name

TRADING ACCOUNT

For the Year Ended 31/03/2016 (01/04/2016 To 31/03/2017)

Dr. Cr.

Particulars	Amount	Particulars	Amount
To Opening Stock To Purchases (Purchases under Group is All Type of Purchase Ledger use the Purchases Group) for Example Purchases 5% VAT Purchases 12.5% VAT Raw Material, etc. Less Purchases Return To Direct Expenses For Example - Freight, Octrai All Type Exp. For the time of purchases or Manufacturing. To Gross Profit (Transfer to Profit & Loss Account)	XXXX XXXX XXXX XXXX	By Sales (Sales under Group is All Type of Sale Ledger use the Sales Group) for Example Sales 5% VAT Sales 12.5% VAT Finished goods Items Less Sales Return By Direct Income For Example - Discount Received By Closing Stock By Gross Loss (Transfer to Profit & Loss Account)	XXXX XXXXX XXXX XXXX
Total Amount	XXXXX	Total Amount	XXXXX

MEANING OF ACCOUNTING

MEANING OF ACCOUNTING The committee on terminology set up by the American institute of certified public accountants formulated the following definition of accounting in 1961. Accounting is the art of recording, classifying and summarizing in significant manner and in terms of money, transactions and events which are in part at least, of financial character and interpreting the result thereof. As per this definition accounting is simply an art of record keeping. The process of accounting start by first identifying the events and transaction which are of financial character and then be recorded in the books of account. This recording is done in journal or subsidiary books, also known as primary books. Every good record keeping system includes suitable classification of transaction and events as well as their summarization for ready reference. After the transaction and events are recorded, they are transferred to secondary books i.e. ledger. In ledger transactions and event...

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