Class: 12 COMMERCE CHAPTER: SCHEDULE III SUBJECT: ACCOUNTS

Name of the Company…………………….

Balance Sheet as at ………………………
Particulars Note Figures as at the Figures as at the
No end of current end of previous
reporting period reporting period
I. EQUITY AND LIABILITIES
(1) Shareholders’ funds
(a) Share capital
(b) Reserves and surplus
(c) Money received against share
warrants
(2) Share application money pending
allotment
(3) Non-current liabilities
(a) Long-term borrowings
(b) Deferred tax liabilities (Net)
(c) Other Long term liabilities
(d) Long-term provisions
(4) Current liabilities
(a) Short-term borrowings
(b) Trade payables
(c) Other current liabilities
(d) Short-term provisions
TOTAL

II. ASSETS
Non-current assets
(1)        (a) Property, Plant & Equipment and
Intangible Assets
(i) Property, Plant & Equipment
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under
development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long-term loans and advances
(e) Other non-current assets
(2) Current assets
(a) Current investments
(b) Inventories
(c) Trade receivables
(d) Cash and cash Balances
(e) Short-term loans and advances
(f) Other current assets
TOTAL

NOTES TO ACCOUNT

Particulars Amount(Rs)
Following is the list of items to be recorded in the Balance Sheet and Notes to Accounts with their
respective headings and sub-headings:

PARTICULARS HEADING SUB-HEADING

Equity & Liabilities
Equity/ Preference Share capital Shareholder’s Fund Share Capital
Securities Premium Reserve Shareholder’s Fund Reserve & Surplus
Capital/ General Reserve Shareholder’s Fund Reserve & Surplus
Balance in Statement of PL Shareholder’s Fund Reserve & Surplus
Debentures Non-current Liabilities Long term borrowing
Bank / Mortgage loan Non-current Liabilities Long term borrowing
Public Deposit Non-current Liabilities Long term borrowing
Premium on Redemption of Debenture Non-current Liabilities Long term borrowing
Bank Overdraft Current Liabilities Short term borrowing
Creditors Current Liabilities Trade Payables
Bills Payable Current Liabilities Trade Payables
Interest accrued Current Liabilities Other Current Liabilities
Advance received from customers Current Liabilities Other Current Liabilities
Unclaimed Dividend Current Liabilities Other Current Liabilities
Calls-in-advance Current Liabilities Other Current Liabilities
Dividend payable Current Liabilities Other Current Liabilities
Provision for Tax Current Liabilities Short term provision
Assets
Building/furniture..etc Non-current Asset Property, Plant &
Equipment-Tangible
Building under construction Non-current Asset Property, Plant &
Equipment - Capital WIP
Goodwill/patents/rights/brands/computer Non-current Asset Property, Plant &
software/license/trade marks Equipment - Intangible
Long term Investments Non-current Asset Non-current Investment
Investment in shares/ land & building Non-current Asset Non-current Investment
Govt Bonds Non-current Asset Non-current Investment
Deposits for electricity Non-current Asset Long term loans &
advances
Short term Investment Current Asset Current Investment
Stores & spares/ stock-in-trade Current Asset Inventories
Debtors Current Asset Trade Receivables
Bills Receivables Current Asset Trade Receivables
Cash at bank/ cash in hand Current Asset Cash & Bank Balance
Prepaid expenses Current Asset Other Current Asset

DIFFERENCE BETWEEN COMPANY’S BALANCE SHEET AND FIRM’S BALANCE SHEET

COMPANY’S BALANCE SHEET FIRM’S BALANCE SHEET

1. The form and the content of Company’s Balance
Sheet is prescribed in Company’s Act 2013
(Schedule III)
2. For each figure of the current year, the Balance
Sheet has to have the value of the previous year
3. Company’s Balance Sheet is prepared in order of
permanence
4. Company’s Balance Sheet is prepared in a
vertical format
1.There is no statutory form or prescribed contents
for the Balance Sheet of a firm
2. Balance Sheet of a firm is not required to give
such corresponding value
3. Firm’s Balance Sheet may be prepared in order of
permanence or liquidity
4. Firm’s Balance Sheet is prepared in a horizontal
format