Procedure of quarterly results and final balance sheet and profit and loss account

As per the statutory requirement of Companies act, we have to publish the Quarterly result. Our accounting period is April to March. Every three month we have to publish the Statement of profit and loss account and Capital employed to stock exchange as well as to public. And at the year end in the march we have to publish in new paper and prepare the full balance sheet for the giving it to share holder as well as to others.

For preparing the quarterly result our activity are as follows.

First we close the all data of sales in the beginning of the month at all site including the
C & F Locations. All the site and C & F location data comes to Mumbai H.O. for compilation and get consolidate here on HO server,

Once the sales are final and freeze, by the 10th of next month site people close all the other data, and send the all data to HO for complication along with the provision figures.

Once the all data are received from the sites and C & F Location At along with HO data are transfer to consolidate data, where we can see all the site and HO data to gather, Once all data are transferred to consolidate data, then we passed the Provisional JV’s in the consolidate data. Once all data are finalized after all provisional entry we prepare the Profit and loss account and balance sheet for the quarter end result.


As the Companies act we have to publish the result segment wise. One statement is the profit and loss account statement of the company, and other is segment wise revenue and profit and loss account and capital employed.

At present we have location and division as a primary key for all the report, which is one to one relation, each location is attached with one division. So for generating the Profit and loss account and balance sheet report, we have hard coded the location in the report parameter, so we get the profit and loss and balance sheet as per the division wise. And also we get the consolidate profit and loss account and balance for company.

Once the profit and loss account and balance sheet are final, account department present t management, for discussion and there views, once it is approved by the Top management we finalized and published the results.

In quarterly result we are not preparing the full balance schedule wise, only publishing the profit and loss account statement and Segment wise revenue and profit and loss of segments and segment wise capital employed. And in the year end in March for final result we prepare the full balance sheet and profit and loss account schedule wise. By giving all the necessary information along with notes to accounts and auditors’ and director’s report in published balance sheet report

During the quarter all the provision entry which is passed in consolidates data are reverted on the next day, we have to rune small program to reverse the all provisional Journal vouchers. These provisional entries are done only in consolidate data, not in the individual data base.