FINANCIAL STATEMENT OF A COMPANY

Section 129 of the Companies Act, 2013 prescribes that

Balance Sheet and Statement of Profit & Loss are prepared
in form prescribed in Schedule III of the Companies Act, 2013.

A set of financial statements as per Section 2(40) of the

Companies Act, 2013 includes:
1. Balance Sheet (Position Statement): as per Part I of
Schedule III of Companies Act, 2013.
2. Statement of Profit & Loss (Income Statement): as per
Part II of Schedule III of Companies Act, 2013.
3. Notes to Accounts
4. Cash Flow Statements: As per AS-3.

Operating Cycle is defined in Schedule III of the Companies Act, 2013 as follows:
“Operating Cycle is the time between the acquisition of an asset for processing and its realisation into Cash and Cash Equivalents.
Where operating cycle cannot be identified, it is assumed to be of 12 months.”

S.N. Items Major Head Sub-Head

1 Share Forfeiture A/c Shareholders’ Funds As Addition in Share Capital
2 Calls-in-Arrears Shareholders’ Funds As deduction from Share Capital
3 Authorised Capital Shareholders’ Funds Share Capital
4 Security Premium Shareholders’ Funds Reserves & Surplus
5 Capital Reserve Shareholders’ Funds Reserves & Surplus
6 Debentures Redemption Reserve Shareholders’ Funds Reserves & Surplus
7 Capital Redemption Reserve Shareholders’ Funds Reserves & Surplus
8 Surplus (Dr. Balance) Shareholders’ Funds Reserves & Surplus (As Deduction)
9 Surplus (Cr. Balance) Shareholders’ Funds Reserves & Surplus
10 General Reserve Shareholders’ Funds Reserves & Surplus
11 Subsidy Reserve Shareholders’ Funds Reserves & Surplus
12 Share Option Outstanding A/c Shareholders’ Funds Reserves & Surplus
13 Sinking Fund Shareholders’ Funds Reserves & Surplus
14 Debentures Non-Current Liabilities Long-term Borrowings
15 Public Deposits Non-CL Long-term Borrowings
16 Mortgage Loan Non-CL Long-term Borrowings
17 Long-term Loans Non-CL Long-term Borrowings
18 Bonds Non-CL Long-term Borrowings
19 Public Deposits Non-CL Long-term Borrowings
20 Provision for Employees Benefits Non-CL Long-term Provisions
21 Provision for Warranties Non-CL Long-term Provisions
22 Premium on Redemption of Deb Non-CL Other Long-term Liabilities
23 Bills Payable Current Liabilities Trade Payables
24 Sundry Creditors CL Trade Payables
25 Provision for Tax CL Short-term Provisions
26 Interest Accrued and due on Deb CL Other CL
27 Interest Accrued but not due on Deb CL Other CL
28 Unclaimed Dividend CL Other CL
29 Advance Received from Customers CL Other CL
30 Calls-in-Advance CL Other CL
31 Unpaid Dividend CL Other CL
32 Interest on Calls-in-advance CL Other CL
33 Outstanding Salary CL Other CL
34 Commission Received in Advance CL Other CL
35 Unpaid Matured Deposits CL Other CL
36 Short-term Loans CL Short-term Borrowings
37 Bank Overdraft CL Short-term Borrowings
38 Current Maturities of Long-term Debts CL Short-term borrowings
39 Loans repayable on Demand CL Short-term Borrowings
40 Land & Building Non-Current Assets Fixed Assets- Tangible Assets
41 Vehicles Non-CA Fixed Assets- Tangible Assets
42 Office Furniture Non-CA Fixed Assets- Tangible Assets
43 Computer Non-CA Fixed Assets- Tangible Assets
44 Fixtures Non-CA Fixed Assets- Tangible Assets
45 Live Stock Non-CA Fixed Assets- Tangible Assets
46 Patents Non-CA Fixed Assets- Intangible Assets
47 Mining Rights Non-CA Fixed Assets- Intangible Assets
48 Goodwill Non-CA Fixed Assets- Intangible Assets
49 Trademarks Non-CA Fixed Assets- Intangible Assets
50 Computer Software Non-CA Fixed Assets- Intangible Assets
51 Design Non-CA Fixed Assets- Intangible Assets
52 Work-in-progress (Machinery) Non-CA Fixed Assets- Capital Work in Progress
53 Patents being developed by the company Non-CA Fixed Assets- Intangible Assets under Development
54 Investments Non-CA Non-current Investments
55 Long-term Investments Non-CA Non-current Investments
56 Shares in Listed Companies Non-CA Non-current Investments
57 Investments in Debentures Non-CA Non-Current Investments
58 Government & Trust Securities Non-CA Non-current Investments
59 Deposit with Customs Authorities Non-CA Long-term Loans & Advances
60 Capital Advances Non-CA Long-term Loans & Advances
61 Bills Receivable Current Assets Trade Receivables
62 Sundry Debtors CA Trade Receivables
63 Provision for Doubtful Debts CA As Deduction from Trade Receivables
64 Loose Tools CA Inventories
65 Stores & Spares CA Inventories
66 Stock (Raw Material / WIP / FG) CA Inventories
67 Goods in Transit CA Inventories
68 Advances Recoverable in cash CA Short-term loans & Advances
69 Cheques CA Cash & Cash Equivalents
70 Demand Draft/ Bank Drafts (in hand) CA Cash & Cash Equivalents
71 Balance with Bank CA Cash & Cash Equivalents
72 Accrued Incomes CA Other CA
73 Prepaid Insurance CA Other CA
74 Loans provided repayable on Demand CA Other CA
75 Interest Accrued on Investments CA Other CA
76 Preliminary Expenses Not Shown in B/S (to be written off in the year in which they are incurred as per AS 26)
77 Discount/Loss on issue of Debentures Not Shown in B/S (to be written off in the year in which they are incurred)
78 Sales of Goods (Gross- Return=Net) Revenue from Operations --
79 Sales of Services (Gross- Return=Net) Revenue from Operations --
80 Sale of Scrap Revenue from Operations --
81 Interest Received or Earned Other Income --
82 Dividend Received Other Income --
83 Gain on Sale of Fixed Assets Other Income --
84 Gain on Sale of Non-current Investments Other Income --
85 Sale of Miscellaneous items Other Income --
86 Any other Income Received Other Income --
87 Refund of Income Tax Other Income --
88 Wages, Salaries, Bonus, Leave Encashment Expenses Employee Benefit Expenses
89 Contribution to Provide Fund, Gratuity Fund Expenses Employee Benefit Expenses
90 Staff Welfare Expenses e.g. Medical expenses Expenses Employee Benefit Expenses
91 Employees Stock Option Scheme (ESOS) Expenses Employee Benefit Expenses
92 Employees Stock Purchase Plan (ESPP) Expenses Employee Benefit Expenses
93 Interest paid Expenses Finance Costs
94 Discount/Loss on issue of Deb Written off Expenses Finance Costs
95 Premium payable on redem. of deb written off Expenses Finance Costs
96 Loan Processing Charges Expenses Finance Costs
97 Guarantee Charges Expenses Finance Costs
98 Commitment Charges Expenses Finance Costs
99 Commission paid for deposit mobilisation Expenses Finance Costs
100 Depreciation on Tangible Assets Expenses Depreciation & Amortisation Expenses
101 Intangible Assets Written off Expenses Depreciation & Amortisation Expenses
102
103
104
105
106
107
108
109
110