Company Final Accounts

  

Schedule ² VI to Companies Act Format of Balance Sheet Prescribed Format of P & L A/c not prescribed. But the requirements for the same are given in the part ² II of the schedule VI.
Schedule ± VI to Companies Act Formats Balance Sheet prescribed P & L a/c not prescribed, but requirements given in part-II.

Concepts 
 

  

Uniformity is the reason for the common Format. Order of the items at every stage based on Permanency Liquidity Disclosure of information is Emphasized ins each title or the items. Accounting Standards Compliance MUST T Form given in schedule, But Vertical Form allowed and mostly followed accepted-popular acceptedOrder of the titles and Order of items under each title.

ORDER OF TITLES
LIABILITIES
SHARE CAPITAL RESERVES & SURPLUS SECURED LOANS UNSECURED LOANS CURRENT LIABILITIES, PROVISIONS

ASSETS
FIXED ASSETS INVESTMENTS CURRENT ASSETS, LOANS & ADVANCES MISCELLANEOUS EXPENDITURE( to the extent not written off) PROFT & LOSS A/C

FOOTNOTE: CONTINGENT LIABILITIES

SHARE CAPITAL 
  

AUTHORISED CAPITAL: No. & Face Value of shares ISSUED SHARE CAPITAL :Classes of capital : equity, preference SUBSCRIBED CAPITAL : No. of Shares held by Companies Total Amount called up Calls Unpaid (1) By Directors & (2) others No. of Shares allotted for consideration other than cash No. of Bonus Shares & sources for such bonus. Forfeited shares Paid up Share Capital

RESERVES & SURPLUS 
     

CAPITAL RESERVE CAPITAL REDEMPTION RESERVE SECURITY PREMIUM OTHER RESERVES ² I.E. GENERAL RESERVE SURPLUS BALANCE IN P & L APPROPRIATION A/C PROPOSED ADDITION AND UTILISATION UNDER EACH RESERVE, SINCE LAST BALANCE SHEET SINKING FUND ( RESERVES EARMARKED BY INVESTMENTS)

SECURED LOANS 
  

DEBENTURES LOANS & ADVANCES FROM BANKS LOANS & ADVANCES FROM SUBSIDIARIES OTHER LOANS & ADVANCES Loans from Directors managers to be shown separately Interest accrued and due on the secured loan to be included under respective loan. Nature of Security has to be specified in each loan Guarantees given by directors or managers ² suitable disclosure Debentures : terms of and earliest date of redemption or conversion to be stated 

   

UNSECURED LOANS 
  

FIXED DEPOSITS LOANS & ADVANCES FROM SUBSIDIARIES SHORT TERM LOANS & ADVANCES(< 1 year) FROM A] BANKS B] OTHERS OTHER LOANS & ADVANCES FROM A] BANKS B] OTHERS

Loans From Directors, Managers to be shown separately Interest accrued & due to be included under relevant loan Guarantees by managers or directors ² suitable disclosure

CURRENT LIABILITES & PROVISIONS
(A) CURRENT LIABILITES  ACCEPTANCES: BILLS PAYABLE  SUNDRY CREDITORS (A) SSIs. (B) OTHERS  SUBSIDIARY COMPANIES  ADVANCE PAYMENTS OR UNEXPIRED DISCOUNTS FOR WHICH GOODS OR SERVICES TO BE RECEIVED  UNCLAIMED DIVIDENDS  OTHER LIABILITES  INTEREST ACCRUED BUT NOT DUE ON LOANS  CURRENT ACCOUNT BALANCES WITH DIRECTORS, MANAGERS IN CREDIT Note : Bank Overdraft : Overdrawn Balance (Due to BRS Items) If secured, ´Secured Loans,µ If Clean, ´Unsecured Loansµ 

(B) PROVISIONS 
    

PROVISION FOR TAXATION PROVISION FOR PROPOSED DIVIDENDS PROVISION FOR CONTINGENCIES PROVISION FOR PROVIDENT FUND SCHEMES PROVISION FOR INSURANCE, PENSION, AND SUCH STAFF BENEFIT SCHEMES OTHER PROVISIONS

Note : Provision for depreciation to be deducted from Fixed Assets Provision for Bad Debts is deducted from debtors.

CONTINGENT LIABILITES 
 

 

CLAIMS AGAINST COMPANY NOT ACKNOWLEDGED AS DEBTS UNCALLED LIABILITY ON PARTLY PAID SHARES HELD AS INVESTMENTS ARREARS OF FIXED CUMULATIVE DIVIDEND UNEXECUTED CONTRACTS ON CAPITAL ACCOUNT OTHER CONTINGENT LIABILITIES : e.g. Guarantees given by Company in favor of directors or manager etc.

FIXED ASSETS 
          

GOODWILL LAND BUILDING LEASEHOLDS RAILWAY SIDINGS PLANT & MACHINERY FURNITURE & FITTINGS DEVELOPMENT OF PROPERTY PATENTS, TRADEMARKS, DESIGNS LIVESTOCKS VEHICLES CAPITAL ² WORK IN PROGRESS.

FIXED ASSETS «. 
     



PARTICULARS UNDER EACH HEAD AS UNDER: ORIGINAL COST ADDITIONS(PURCHASES) DURING THE YEAR DEDUCTIONS(SALES) DURING THE YEAR TOTAL DEPRECIATION PROVIDED UP TO THE END OF THE YEAR REVISION IN COST DUE TO CHANGE IN FOREIGN EXCHANGE RATES ² INCREASE OR DECREASE TO BE ADJUSTED IN VALUES BOOK VALUE WHEN ORIGINAL COST IS NOT AVAILABLE REDUCTION / REVALUATION ; REVISED FIGURES IN PLACE OF ORIGINAL COST, DATE OF REDUCTION/REVALUATION TO BE DISCLOSED; BALANCE SHEET FOR 5 YEARS TO DISCLOSE THE AMOUNT OF REDUCTION OR REVALUATION

INVESTMENTS 
          

NATURE, MODE OF VALUATION TO BE SHOWN. DISTINCTION TOBE MADE FOR INVESTMENTS IN GOVERNMENT SECURITIES SHARES DEBENTURES & BONDS IMMOVABLE PROPERTIES CAPITAL OF PARTNERSHIP FIRMS AND UNUTILISED MONIES FROM ISSUES VALUE OF QUOTED/UNQUOTED INVESTMENTS TO BE SHOWN CLASSIFICATION OF SHARES : FULLY PAID, EQUITY, PREF. «. INVESTMENTS IN SUBSIDIARY COMPANIES Statement to be annexed showing Trade Investments, In case of Investment Companies, names of shares with amount invested etc the names of companies under the same management etc. Investment in capital of partnership, names of all such firms along with names of their partners total capital of such firm and the shares of each partner to be disclosed with regard to date of balance sheet.

CURRENT ASSETS, LOANS & ADVANCES 
      



A] CURRENT ASSETS INTEREST ACCRUED BUT NOT DUE ON INVESTMENTS STORES & SPARE PARTS LOOSE TOOLS STOCK-INSTOCK-IN-TRADE WORK-INWORK-IN-PROGRESS SUNDRY DEBTORS a} O/S FOR MOE THAN 6 MONTHS b} OTHERS LESS : PROVISION FOR DOUBTFUL DEBTS CASH BALANCE ON HAND BANK BALANCE (a) WITH SCHEDULED BANKS (b) OTHERS

CURRENT ASSETS «.. 
 

   

VALUATION OF STOCK ² MODE OF VALUATION TO BE GIVEN. RAW MATERIALS TO BE GIVEN SEPARATELY DEBTORS ² CONSIDERED GOOD & FULLY SECURED CONSIDERED GOOD & SECURED BY PERSONAL SECUITY OF DEBTOR AND DEBTS CONSIDERED DOUBTFUL OR BAD, EACH TO BE SEPARATELY SHOWN DUE FROM DIRECTORS, OFFICERS OF CO. TO BE SHOWN DUE FROM FIRMS/COMPANY IN WHICH DIRECTOR IS PARTNER OR MEMBER DUE FROM COMPANY UNDER SAME MANAGEMENT MAXIMUM AMOUNT DUE FROM DIRECTORS DURING YEAR BANK ACCOUNTS BREAK UP : CURRENT A/C, CALL A/C, DEPOSIT A/C,MAXIMUM BALANCE DURING YEAR, ETC IN CASE OF BALANCE WITH NON-SCHEDULED BANKS TO BE GIVEN NON-

LOANS & ADVANCES 
 

 

ADVANCES AND LOANS TO SUBSIDIARIES ADVANCES OR LOANS TO PARTNERSHIP FIRMS IN WHICH COMPANY OR ANY SUBSIDIARY IS PARTNER BILLS RECEIVABLE ADVANCES RECOVERABLE IN CASH OR KIND OR FOR THE VALUE TO BE RECEIVED E,G, PREPAID INSURANCE, RENT BALANCE WITH CUSTOMS, PRT TRUST ETC. Notes applicable with regard to debtors are also applicable to loans & advances 

MISCELLANEOUS EXP. 
 

  

PRELIMINARY EXPENSES EXPENSES INCLUDING COMMISSION, BROKERAGE ON UNDERWRITING OF SHARES & DEBENTURES DISCOUNT ALLOWED ON ISSUE OF SHARES OR DEBENTURES INTEREST PAID OUT OF CAPITAL DURING THE CONSTRUCTION DEVELOPMENT EXPENDITURE OTHER ITEMS

PROFIT & LOSS A/C 


DEBIT BALANCE IN THE ACCOUNT ACCUMULATED LOSSES ARE CARRIED FORWARD IN THE A/C

PART ² II ² PROFIT & LOSS A/C REQUIREMENTS 
   

TURNOVER : AMOUNT & QUANTITY IN RESPECT OF EACH CLASS OF GOODS COMMISSION PAID TO SOLE SELLING AGENTS COMMISSION PAID TO OTHER AGENTS BROKERAGE & DISCOUNT ON SALES EXCEPT USUAL TRADE DISCOUNT IN CASE OF SERVICE COMPANIES : GROSS INCOME TO BE DISCLOSED

RAW MATERIALS CONSUMED 


ITEMWISE VALUE & QUANTITY SEPARATE DISCLOSURE OF ITEMS MORE THAN 10 % OF TOTAL VALUE OF RAW MATERIALS CONSUMED

STOCK OF GOODS PRODUCED, IN CASE OF MANUFACTURING COMPANIES  

 

OPENING STOCK, CLOSING STOCK DETAILS ITEMWISE QUANTITIES & VALUE IMPORTED ITEMS AS PER CCIE. PURCHASE & STOCK OF GOODS TRADED TO BE GIVEN. COMPOSITE COMPANIES : TOTAL AMOUNTS TO BE GIVEN OF OP., CL., R.MAT CONSUMED, PURCHASE, SALES ETC.

VARIOUS EXPENSES 
      

SEPARATELY UNDER FOLLOWING HEADS CONSUMPTION OF STORES, SPARE PARTS POWER & FUEL RENT REPAIRS TO BUILDING REPAIRS TO MACHINERY INSURANCE RATES & TAXES OTHER THAN INCOME TAX

SALARIES & WAGES 
 

SALAIRES WAGES, & BONUS CONSTRBUTION TO PF & OTHER FUNDS WORKMEN & STAFF WELAFARE EXP

DEPRECIATION   

DISCLOSURE OF METHOD USED & DEPRECIATION RATES OR USEFUL LIFE OF ASSET, IF DIFFERENT RATE THAN THE RATE PRESCRIBED. SCHEDULE XIV : RATES UNDER FOUR CATEGORIES OF ASSETS SHIFTS : RATES FOR SINGLE, DOUBLE OR TRIPLE SHIFTS

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