There are two alternative forms of presentation of reconciliation of profits revealed by cost and financial accounts, namely

Advertisement

Statement form

Account form

In the statement form it is known as Reconciliation Statement and in the accounts form it is known as Memorandum Reconciliation Account.

In both forms, the profits as per one set is taken to start with and addition / adjustments are made to arrive at the profit of another set of books.

Advertisement
The following two tabs change content below.
We, at BMS.co.in, believe in sharing knowledge and giving quality information to our BMS students. We are here to provide and update you with every details required by you BMSites! If you want to join us, please mail to [email protected]
45 Comments

Leave a reply

BMS.co.in is aimed at revolutionising Bachelors in Management Studies education, also known as BMS for students appearing for BMS exams across all states of India. We provide free study material, 100s of tutorials with worked examples, past papers, tips, tricks for BMS exams, we are creating a digital learning library.

Disclaimer: We are not affiliated with any university or government body in anyway.

©2020 BMS - Bachelor of Management Studies Community 

A Management Paradise Venture

Ask Us On WhatsApp
or

Log in with your credentials

or    

Forgot your details?

or

Create Account