Annual Statements

Balance sheets , Fixed assets, Current

assets and Liabilities

Presented by :
Bilal Ahmar
Ayesha Yaqoob
Haris Naeem
Noor ul Eman
Anum Asghar
Annual Statements
Standard
Companies Act Accounting
Requirements Account
1985 Standards
under this act practice
Committee
statement

Balance sheet

Profit And
Loss
disclosure

Audit Report
Balance Sheets

01 02 03
Introduction Purpose / Use Assets

04 05 06
Liabilities Balancing item Net worth
 Balance sheet of a student
1999 1998
ASSETS
Cash in hand 32.50 41.30
Cash at bank 271.15 175.42
Books 40 50
Bicycles 60 65
prepaid accommodation 300 280
Debt owed by friends 12
Total Assets : 715 611.72
LIABILITIES
Credit card bill 124 51.22
Student loans 4,200 1300
Total Liabilities : 4324 1351
NET WORTH (3,488.66) (739.50)
Commercial
Balance
Sheets
Commercial Balance Sheets
Purpose
Used to Analyze the financial report
of an organization/business at the end
of the year and in some cases compare
it to previous years
Fixed vs Current Assets
Fixed assets are the assets that
contribute to a company’s Productive
capability whereas Current assets are
the assets
Categories
In commerical balance sheets, Assets
are divided into categories eg fixed,
cirrent assets, capital and creditors
Creditors
a creditor is someone to whom the
company owes money or owes
payment for goods or services
received.
 Balance sheet for a services company
1999 1998
FIXED ASSETS
Intangible 475 -
Tangible 960 770
Investments 50 82
Total Fixed Assets : 1,485 852
CURRENT ASSETS
Work in progress 550 621
Debtors 3,400 2,580
Cash in hand and at bank 2,491 1,770
Total Current Assets 6,441 4,971
CREDITORS ( within one year) 6,441 2,601
Net current assets 3,231 2,370
Total asset less current liabilities 4,716 3,222
 Balance sheet for a services company

1999 1998
CREDITORS(amount
falling due after one year)
Borrowing 154 61
Provisions for liabilities 7 16
Net assets : 4,555 3,145
CAPITAL AND
RESERVES
Called up share capital 318 308
Share premium reserve 350 145
Profit and loss account 3,887 2,692
Shareholders funds 4,555 3,145
equity :
Fixed Assets

Depreciation Rate Bought in software In house software

Capitalization Types of Fixed Assets

Current Assets
Definition
The type of assets that can be
converted into cash

Liabilities
Over optimistic evaluations
Short term
● Pergamon press case liabilities Payable within 12 months
● Rolls Royce case
Long term
liabilities Payable after 12 months