format of Balance sheet and profit and loss as per com Act

format of Balance sheet and profit and loss as per com Act...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Format of Balance sheet and profit and loss account as per Companies Act 1956. [B. VERTICAL FORM Name of Company . ........................................ Balance Sheet as at . ...................................... Schedule No. Figures as at the end of current financial year Figures as at the end of previous financial year 1 2 3 4 5 I. Sources of Funds (1) Shareholders' funds : (a) Capital (b) Reserves and surplus (2) Loan funds (a) Secured loans (b) Unsecured loans TOTAL II. Application of funds (1) Fixed assets : (a) Gross; block (b) Less : Depreciation (c) Net block (d) Capital work-in-progress (2) Investments (3) Current assets, loans and advances : (a) Investories (b) Sundry debtors (c) Cash and bank balances (d) Other current assets (e) Loans and advances
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Current liabilities and provisions : (a) Liabilities (b) Provisions (4) (a) Miscellaneous expenditure to the extent not written off or adjusted (b) Profit and loss account TOTAL Notes : 1. Details under each of the above items shall be given in separate Schedules . The Schedules shall incorporate all the information required to be given under A-Horizontal Form read with notes containing general instructions for preparation of balance sheet. 2. The Schedules, referred to above, accounting policies and explanatory notes that may be attached shall form an integral part of the balance sheet. 3. The figures in the balance sheet may be rounded off to the nearest '000' or '00' as may be convenient or may be expressed in terms of decimals of thousands . 4. A footnote to the balance sheet may be added to show separately contingent liabilities.] PART I FORM OF BALANCE SHEET The balance sheet of a company shall be either in horizontal form or vertical form : A. HORIZONTAL FORM BALANCE SHEET OF . .................................................................... [Here enter the name of the company] AS AT . .............................................................................................. [Here enter the date as at which the balance sheet is made out] Instructions in accordance with which liabilities should be made out LIABILITIES ASSETS Figures for the previous year Rs. (b) Figures for the current year Rs. (b) Figures for the previous year Rs. (b) Figures for the current year Rs. (b) Instructions in accordance with which assets should be made out *Terms of redemption or conversion (if any) of any redeemable preference capital to be stated together with earliest date of redemption or conversion Particulars of any option on unissued share capital to be specified. Particulars of the different classes of preference shares to be given Specify the source from which bonus shares are issued, e.g., capitalisation of profits or Reserves or from Share Premium Account. Any capital profit on reissue of forfeited shares should be transferred to Capital Reserve
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 11/15/2011 for the course ACCOUNTS 231 taught by Professor Majidkhan during the Winter '11 term at IIPM.

Page1 / 14

format of Balance sheet and profit and loss as per com Act...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online