Do you know about outstandings? follow about standings below! a. Outstanding charges At the balancing date there are in most concerns a number of charges incurred but not entered in the books. Thus, if the date to which accounts are being drawn up is, say, 31st December, it is unlikely that invoices for

The preceding sections of this chapter have aimed to give a broad picture of the objects of drawing up the so-called final accounts, and have indicated how a rationally organised accounting system can facilitate the preparation of final revenue accounts and Balance Sheets. With the broad picture in mind, consideration may now be given to [...]