Accounts from Incomplete Records: Meaning, Procedure, Examples etc

The compilation of these Accountancy Notes makes students exam preparation simpler and organised.

Accounts from Incomplete Records

Certain times organizations use a more informal system of accounting instead of the double-entry system. Or the accounts are lost, or they are incomplete due to some reason. The accountant must still be able to produce complete final accounts for such an organization. Let us learn to make accounts from incomplete records.