BALANCE SHEET
Every company is required to prepare a balance sheet at
the end of each trading period. Section 234 provides that the balance sheet
shall give a true and fair view of the state of affairs of the company at the
end of its financial year and should comply with requirements of Part-ll of
Schedule Fifth in the case of unlisted companies and Part-II of Schedule Fourth
in the case of listed companies.
Format of Balance
Sheet
No form has been
prescribed for the balance sheet in the companies' ordinance. It permits the presentation of the balance sheets both in horizontal as well as in vertical forms.
A format of Balance Sheet has been developed in horizontal form from the fifth
schedule meant for non-listed companies. Additional information required for
listed companies under the fourth schedule is also given separately.
Format of balance sheet in statement Form Capital and liabilities
1.
Share capital and Reserves:
i.
Authorized share capital-ordinary share of Rs.
Total:
ii. Issued subscribed and paid-up capital.
iii.
Reserves:
i.
Capital reserves
ii.
Capital redemption reserve
iii.
Share
premium account Surplus on revaluation of the fixed asset
iv.
Pre-incorporation profits
v.
Any other capital reserve (specify)
2.
Revenue reserves
i.
General reserve
ii.
Dividend equalization reserve
iii.
Deferred depreciation reserve
iv.
Un-appropriated profits
v.
Any other revenue reserve (specify)
3.
Long term loans
i.
Secured loans
ii.
Unsecured loan
4.
Debentures and participation term
certificate
a.
Secured:
i.
Debentures
ii.
Participation term certificates
b.
Un-secured:
- Debenture
2. 2. Participation term certificates
5.
Deferred Liabilities:
i.
For taxation.
ii.
For pension, gratuity and other staff benefits schemes.
iii.
Other deferred liabilities.
6.
Long Term Deposits:
7.
Current Liabilities:
1.
Short term loans:
a.
Secured:
1.
From banks & financial institutions.
2.
From subsidiaries, managed Modarabas and
associated undertakings.
3.
From directors, chief executive &
managing agents.
4.
From others.
b.
Un-secured:
1.
From bank & financial institutions.
2.
From subsidiaries, managed modarabas and
associated undertakings.
3.
From directors, chief executive &
managing agents.
4.
From others.
8.
Current portion of long terms
liabilities.
9.
Deposits.
10.
Creditors.
11.
Accrued liabilities
12.
Bills payable.
13.
Advance
Payments.
14.
Interest accrued on secured loans,
15.
Profit accrued on Participation Term
Certificates. Other liabilities e.g. unclaimed dividends, unpaid dividends.
16.
Provision for taxation:
a.
Excise duties
b.
Customs duties
c.
Sales Tax
d.
Income Tax
e.
Other Taxes.
17. Proposed dividend.
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