A&L

Liabilities

Assets

Net worth/Equity :

Fixed Assets :

Funds brought in by the promoters as their investment in

Assets which are purchased for long term and not meant to be

business or generated by and retained in business, Share

sold but used for production.

capital/partner's capital/ Paid up equity share

Land & Building,Plant & Machinery

capital,/owners funds

Vehicles,Furniture & Fixture

Reserves & Surplus e.g. General Reserve, CapitalReserve,

Office equipment,Capital Work in Progress These are

Revaluation Reserve and Other Reserves),Retained

represented as under:

Earnings, Undistributed Profits,Preference share capital

Original value (Gross Bock) Less depreciation

(not redeemable within 12 years)

Net Block or book value or written down



Value Method

Long term liabilities:

Non Current Assets:

Liabilities which are not due for payment within 12 months

Assets which cannot be classified as current or

from the date of the Balance Sheet)

fixed or intangible assets Book Debts or Sundry Debtors more

Term loans from financial institutions;

than 6 months old/ Disputed Debts, Investment of long term

Term loan from banks; Debentures/Bonds;

nature in shares,

Deferred payment liability;Preference Shares redeemable

govt. securities, associates or sister firms or

within 12 years;

companies. Long term security deposits. Unquoted investments;

Fixed Deposits maturing after one year;

Investments in subsidiaries or sister concerns; Loans & Advances

Provision for gratuity; Unsecured Loans

to directors, officers; Accounts receivables in respect of sale of



plant &



machinery; Advances to concerns in which directors are



interested; Deposits with customs port trust etc



Intangible & fictitious Assets Which do not have physical



existence. For example: Goodwill, Patents, Trade Mark, Copy



Right, Preliminary or pre operative expenses, other formation



expenses, debit balance of P & L account, accumulated losses,



bad debts, Capital issue expenses e.g. discount on issue of share



& debentures, commission on underwriting of shares &



debentures; Deferred revenue expenditure





Short term or CurrentyLiabilities :

Current Assets :

Liabilities which are due for payment within 12 months

Cash in hand, Bank balance

from the date of the balance sheet and are to be repaid

including fixed ,deposits with banks. Stocks/inventory (such as

out of proceeds of current assets,Short term borrowings

raw material, stock in process, finished goods, consumable stores

from banks (C/C, 0/D or B/P, B/D limits) for working

and spares),Book debts/Sundry debtors/Bills Receivable/

capital.,Sundry/trade creditors/creditors/ Account

Accounts receivable/ debtors, Government and other trustee

payable,Bills Payable / trade acceptances

securities

Fixed Deposits from public payable within one year,Short

(other than for long term purposes e.g. sinking funds, gratuity

duration loans or deposits

funds etc.),Readily Marketable/quoted govt. or other securities

Provision for taxation, Proposed Dividends, Provision for

meant for sale,Interest accrued and

bonus, unclaimed dividend.

receivables,Advance payment of taxes,

Deposits from dealers, selling agents etc.

pre-paid expenses,Advance payments for merchandise; unexpired

Advance payments from customers,

insurance

outstanding expenses and Accruals e.g. wages & salaries,



rent; expenses payable



e.g. Advertisement