Balance Sheet and Profit and Loss Account - Final

CA.CS.CMA.MBA: Naveen.
Rohatgi NMIMS Pharmacy- FM 1
FINANCIAL STATEMENTS
PART I – FORM OF BALANCE SHEET
Name of the Company……………………….
Balance sheet as on …………………..
(Rupees in…………………….)
Particulars Note Figures for the Figures for the

No current current
reporting reporting
period period
A. Assets
I. Non- current assets
(a) Plant, property and Equipment
(b)Capital WIP- Plant and Machinery
© Investment Property
(d) Goodwill
(e) other intangible assets
(f) Intangible assets under development
(g) Deferred tax asset
(h) Financial assets
(1) Investments
(2) Trade Receivable
(3) Loans
(4) other non-currents assets(security
deposit having maturity period of more than a
year)
II. Current assets

(a) Inventories
(b) Financial assets
(1) Investments
(2)Trade Receivable
(3) Cash and cash equivalents
(4) Bank balances other than (3) above
(5) Loans
(6) others (to be specified)
(c) Current Tax assets
(d) Other Current assets
Total asset
B. Equities and Liabilities
CA.CS.CMA.MBA: Naveen. Rohatgi NMIMS Pharmacy- FM 1
I. Equity
1. Equity share capital
2. Other Equity
II. Non -current liabilities
(a)Financial liabilities
(1) Borrowings
(2) Trade payables
(3) other financial liabilities
(b) Provisions
© Deferred tax liabilities
(d)Other non-current liabilities
III. Current liabilities

(a)Financial liabilities
(1) Borrowings
(2) Trade payables
(3) other financial liabilities
(b) other current liabilities
(c) Provisions
(d) Current tax liabilities (net)
Total
A. NON-CURRENT ASSETS
1).Property, Plant and Equipment
(i) Classification shall be given as:
(a) Land (b) Buildings (c) Plant and Equipment (d) Furniture and Fixtures (e) Vehicles (f) Office
equipment (g) Bearer Plants (h) Others (specify nature)
(ii) Assets under lease shall be separately specified under each class of asset.
(iii) A reconciliation of the gross and net carrying amounts of each class of assets at the beginning
and end of the reporting period showing additions, disposals, acquisitions through business
combinations and other adjustments and the related depreciation and impairment losses or
reversals shall be disclosed separately.
2) Investment Property A reconciliation of the gross and net carrying amounts of each class of
property at the beginning and end of the reporting period showing additions, disposals, acquisitions
through business combinations and other adjustments and the related depreciation and impairment
losses or reversals shall be disclosed separately
3) Goodwill:
A reconciliation of the gross and net carrying amount of goodwill at the beginning and end of the
reporting period showing additions, impairments, disposals and other adjustments.
4) Other Intangible assets
(i) Classification shall be given as: (a) Brands or trademarks (b) Computer software (c) Mastheads
and publishing titles (d) Mining rights (e) Copyrights, patents, other intellectual property rights,
services and operating rights (f) Recipes, formulae, models, designs and prototypes 21 (g) Licenses
and franchises (h) Others (specify nature)
A reconciliation of the gross and net carrying amounts of each class of assets at the beginning and
end of the reporting period showing additions, disposals, acquisitions through business
combinations and other adjustments and the related amortization and impairment losses or
5) Intangible assets under development:
Other Intangible assets The company shall disclose the following in the Notes to Accounts:
(i) Classification shall be given as:
(a) Brands / trademarks;
(b) Computer software;
(c) Mining rights;
(d) Copyrights, patents, other intellectual property rights, services and operating rights;
(e) Recipes, formulae, models, designs and prototypes;
(f) Licenses and franchise;
(g) Others (specify nature).
(ii) A reconciliation of the gross and net carrying amounts of each class of assets at the beginning
and end of the reporting period showing additions, disposals, acquisitions through business
combinations and other adjustments and the related amortization and impairment losses or
6) Non-Current Investments:
(i) Investments shall be classified as:
(a) Investments in Equity Instruments;
(b) Investment in Preference Shares;

(c) Investments in Government or trust securities;
(d) Investments in debentures or bonds;
(e) Investments in Mutual Funds;
(f) Investments in partnership firms; or
(g) Other investments (specify nature).
Under each classification, details shall be given of names of the bodies corporate that are –
(i) subsidiaries, (ii) associates, (iii) joint ventures
7) Non-current Trade Receivables
Non-current Trade Receivables, shall be sub-classified as:
(i) (a) Secured, considered good;
(b) Unsecured considered good;
(c) Doubtful
(ii) Allowance for bad and doubtful debts shall be disclosed under the relevant heads separately.
(iii) Debts due by directors or other officers of the company or any of them either severally or
jointly with any other person or debts due by firms or private companies respectively in which any
director is a partner or a director or a member should be separately stated.
8) Non-current Loans
(i) Loans shall be classified as:
(a) Security Deposits;
(b) Loans to related parties (giving details thereof);
(c) Other loans (specify nature).
(ii) The above shall also be separately sub-classified as:
(a) Secured, considered good;
(b) Unsecured, considered good;
(c) Doubtful.
(iii) Allowance for bad and doubtful loans shall be disclosed under the relevant heads separately.
(iv) Loans due by directors or other officers of the company or any of them either severally or
jointly with any other persons or amounts due by firms or private companies respectively in which
any director is a partner or a director or a member should be separately stated
9) Other non-current assets: Other non-current assets shall be classified as: (i) Capital Advances;
and (ii) Advances other than capital advances
B. Current Assets
1).Inventories
(i) Inventories shall be classified as: (a) Raw materials; (b) Work-in-progress; (c) Finished goods;
(d) Stock-in-trade (in respect of goods acquired for trading); (e) Stores and spares; (f) Loose tools;
(g) Others (specify nature).
(ii) Goods-in-transit shall be disclosed under the relevant sub-head of inventories.
(iii) Mode of valuation shall be state
2) Cash and cash equivalents: Cash and cash equivalents shall be classified as: (i) Cash on hand
(ii) Balances with Banks (of the nature of cash and cash equivalents); (iii) Cheques, drafts on
hand;and (iv) Others (specify nature).
3)Cash and Bank balances (Cash and cash equivalents): : The following disclosures with regard
to cash and bank balances shall be made: (i) Earmarked balances with banks (for example, for
unpaid dividend) shall be separately stated. (ii) Balances with banks to the extent held as margin
money or security against the borrowings, guarantees, other commitments shall be disclosed
separately.
4) Current Investments:
(i) Investments shall be classified as:
(a) Investments in Equity Instruments;
(b) Investment in Preference Shares;
(c) Investments in Government or trust securities;
(d) Investments in debentures or bonds;
(e) Investments in Mutual Funds;
(f) Investments in partnership firms; or
(g) Other investments (specify nature).

Under each classification, details shall be given of names of the bodies corporate that are –
(i) subsidiaries, (ii) associates, (iii) joint ventures
5) Trade Receivables
Non-current Trade Receivables, shall be sub-classified as:
(i) (a) Secured, considered good;
(b) Unsecured considered good;
(c) Doubtful
(ii) Allowance for bad and doubtful debts shall be disclosed under the relevant heads separately.
(iii) Debts due by directors or other officers of the company or any of them either severally or
jointly with any other person or debts due by firms or private companies respectively in which any
director is a partner or a director or a member should be separately stated.
6) Current Loans and advances
(i) Loans shall be classified as:
(a) Security Deposits;
(b) Loans to related parties (giving details thereof);
(c) Other loans (specify nature).
(ii) The above shall also be separately sub-classified as:
(a) Secured, considered good;
(b) Unsecured, considered good;
(c) Doubtful.
(iii) Allowance for bad and doubtful loans shall be disclosed under the relevant heads separately.
(iv) Loans due by directors or other officers of the company or any of them either severally or
jointly with any other persons or amounts due by firms or private companies respectively in which
any director is a partner or a director or a member should be separately stated
7) Other non-current assets: Other non-current assets shall be classified as: (i) Capital Advances;
and (ii) Advances other than capital advances
C.EQUITY
1. Equity Share Capital:
For each class of equity share capital:
(a) the number and amount of shares authorized;
(b) the number of shares issued, subscribed and fully paid, and subscribed but not fully paid;
(c) par value per share;
(d) a reconciliation of the number of shares outstanding at the beginning and at the end of the
period;
(e) the rights, preferences and restrictions attaching to each class of shares including restrictions
on the distribution of dividends and the repayment of capital;
(f) shares in respect of each class in the company held by its holding company or its ultimate
holding company including shares held by or by subsidiaries or associates of the holding company
or the ultimate holding company in aggregate;
(g) shares in the company held by each shareholder holding more than five percent shares
specifying the number of shares held; (h) shares reserved for issue under options and
contracts/commitments for the sale of shares or disinvestment, including the terms and amounts;
(i) For the period of five years immediately preceding the date at which the Balance Sheet is
prepared: 28
 Aggregate number and class of shares allotted as fully paid up pursuant to contract without
payment being received in cash;
 Aggregate number and class of shares allotted as fully paid up by way of bonus shares; and
 Aggregate number and class of shares bought back; (j) terms of any securities convertible into
equity shares issued along with the earliest date of conversion in descending order starting from
the farthest such date; (k) calls unpaid (showing aggregate value of calls unpaid by directors and
officers); (l) forfeited shares (amount originally paid up)
2.Other Equity
Reserves and Surplus – these shall be further disclosed
(a) Capital Reserve;
(b) Securities Premium Reserve;
(c) Retained Earnings;

(d)Debenture redemption reserve
(e) Other Reserves (specify nature);
Reconciliation of items in Other Equity Reconciliations for each component of other equity are
required to be made in the following manner (to the extent applicable): (i) Balance at the beginning
of the reporting period (ii) Dividends (iii) Transfer to retained earnings (vi) Any other change (to
be specified) (v) Balance at the end of reporting period
Contingent Liabilities shall be classified as: (a) Claims against the company not acknowledged
as debt; (b) Guarantees excluding financial guarantees; and (c) Other money for which the
company is contingently liable (ii) Commitments shall be classified as: (a) Estimated amount of
contracts remaining to be executed on capital account and not provided for; (b) Uncalled liability
on shares and other investments partly paid; (c) Other commitments (specify
D. Non-Current liabilities
1.Non-current borrowings shall be classified as:
(a) Bonds or debentures;
(b) Term loans; (i) from banks; (ii) from other parties;
(c) Deposits;
(d) Loans from related parties;
(e) Other loans (specify nature).
2. Borrowings shall further be sub-classified as secured and unsecured. Nature of security shall
be specified separately in each case.
3. Where loans have been guaranteed by directors or others, the aggregate amount of such loans
under each head shall be disclosed.
4. Bonds/debentures (along with the rate of interest and particulars of redemption or conversion,
as the case may be) shall be stated in descending order of maturity or conversion, starting from
farthest redemption or conversion date, as the case may be. Where bonds/debentures are
redeemable by installments, the date of maturity for this purpose must be reckoned as the date on
which the first installment becomes due.
5.Particulars of any redeemed bonds/ debentures which the company has power to reissue shall
be disclosed.
6.Terms of repayment of term loans and other loans is also required to be stated.
7. Period and amount of default as on the Balance Sheet date in repayment of borrowings and
interest shall be specified separately in each case.
E. Current Liabilities
(1) Current Borrowings shall be classified as:
(a) Loans repayable on demand • from banks; • from other parties.
(b) Loans from related parties;
(c) Deposits;
(d) Other loans (specify nature).
(ii) Borrowings shall further be sub-classified as secured and unsecured. Nature of security shall
be specified separately in each case.
(iii) Where loans have been guaranteed by directors or others, the aggregate amount of such
loans under each head shall be disclosed.
(iv) Period and amount of default as on the Balance Sheet date in repayment of borrowings and
interest shall be specified separately in each case. Loans payable on demand should be treated as
part of current borrowings
(v)Current borrowings will include all loans payable within a period of 12 months from the date
of the loan.
(vi) In the case of current borrowings, the period and amount of defaults existing as at the date of
the Balance Sheet should be disclosed (item-wise).
(2)Current provisions The amounts shall be classified as:
(a) Provision for employee benefits;
(b) Others (specify nature). Others would include all provisions other than provisions for
employee benefits such as provision for warranties, provision for decommissioning liabilities,
etc. These amounts should be disclosed separately specifying nature thereof
(3) Other Current Liabilities
The amounts shall be classified as: (a) revenue received in advance; (b) other advances (specify
nature); (c) others (specify nature);
F. Contingent liabilities and commitments

(i) Contingent liabilities shall be classified as:

(a) Claims against the company not acknowledged as debt;
(b) Guarantees excluding financial guarantees; and
(c) Other money for which the company is contingently liable
(ii) Commitments shall be classified as:

(a) Estimated amount of contracts remaining to be executed on capital account and not provided
for; (b) Uncalled liability on shares and other investments partly paid
(c) Other commitments (specify nature).
Illustration 1 : Finolex Ltd. furnishes you with the following trial balance as on 31 st March, 2019
:
Particulars Debit Rs. Credit Rs.
Equity share capital : Shares of Rs.10 each fully paid 90,00,000
8% Preference share capital: Shares of Rs.10 each fully paid 28,00,000
Debenture redemption Reserve 1,80,000
Security Premium 4,40,000
Interim Dividend Paid 1,00,000
Cash 4,00,000
Bank of India - Current Account 2,00,000
Customers’ dues – Good and Unsecured 25,00,000
Customers’ dues – Doubtful and Unsecured 11,50,000
Provisions for bad debts 11,50,000
Advances (considered good long term) 34,00,000
Prepaid Expenses (less than a year) 1,50,000
Advance Income received 5,40,000
Creditors for Goods 3,80,000
Fixed Assets :
- Cost 78,00,000
- Provision for Depreciation 45,50,000
Inventory – Raw material 10,00,000
Opening Balance of Profit and loss account 10,00,000
Profit for the year 7,00,000
Term loan from IDBI 6,00,000
Term loan from ICICI 5,00,000
10% Debenture 7,00,000
8% Bond 8,00,000
Creditors for expenses 50,000
Provision for Bonus 1,50,000
Provision for Gratuity (within one year) 3,00,000
Provision for Gratuity (after one year) 6,00,000
Inventory – Stock in Trade 5,00,000
Inventory – Stores and parts 6,00,000
Inventory – Finished goods 17,50,000
Long term investment 6,00,000

Short term investment 7,00,000
Capital WIP – Plant and Machinery 6,50,000
Patents under development 4,50,000
Patents 5,50,000
Trade mark 5,50,000
Security Deposit (Receivable after one year) 13,90,000
Investment in Bonds 5,00,000
Creditors for expenses 3,00,000
Unclaimed dividend 2,00,000
Unclaimed dividend – Bank of India 2,00,000
Bank deposit (maturity period 18 months) 5,00,000
Amount payable under VRS 12,00,000
2,61,40,000 2,61,40,000
st
You are asked to prepare the balance sheet as on 31 March, 2019, giving the information
required by the Companies Act 1956 in the manner so required to the extent it is available from
the above data.
Illustration 2 : Duty Ltd. furnishes you with the following trial balance as on 31 st March, 2016
:
Revaluation reserve 1,80,000
Opening Balance of the Profit and loss 26,00,000
Profit and loss for the year 12,00,000
Interim Dividend Paid 1,80,000
Cash in hand 4,00,000
Bank of India - Current Account 9,00,000
ICICI Bank- Saving Account 6,50,000
Customers’ dues – Unsecured and considered Good 38,00,000
Customers’ dues - Unsecured and considered Doubtful 13,50,000
Advances (considered good- receivable after one year) 34,00,000
Prepaid Expenses (less than one year) 1,50,000
Trade creditors 25,80,000
Creditors for expenses 5,00,000
Capital redemption reserve 10,00,000
Public deposit 7,00,000
8% Term loan from IFCI 6,00,000
12% Term loan from SBI 5,00,000
7.5% Bonds 8,00,000
Provision for Gratuity (before one year) 4,00,000
Provision for tax (net of advance tax) 9,60,000
Inventory – Stock in Trade 6,00,000
Inventory– Raw material 7,00,000
Long term investment 7,00,000
Short term investment 6,50,000
Capital WIP – Building 4,50,000
Patents 5,50,000
Trade mark 13,90,000
Security Deposit(after one year) 6,60,000
Bank over draft 6,60,000
Plant and Machinery 54,00,000
Provision for depreciation of plant 10,00,000
Building 34,00,000
Provision for depreciation of Building 6,00,000
Goodwill 10,60,000
Investment in property 10,00,000
Interest accrued and due on borrowings 5,00,000
Unpaid matured debenture and interest accrued there on 5,00,000
Investment in Kotak mutual fund 5,00,000
Unpaid public deposit and interest accrued there on 5,00,000
Insurance claim receivable 5,00,000
Deposit with custom authorities (more than a year) 5,00,000
Bank deposit (maturity period 60 months ) 10,00,000
Loan to Employees (more than one year) 2,00,000
33,040,000 33,040,000
The directors have proposed final equity dividend at 8% required by the Companies Act 1956 in
the manner so required to the extent it is available from the above data.
HOME WORK SECTION

Illustration 3 : Polar energy Ltd. furnishes you with the following trial balance as on 31st March,
2016 :
12% Preference share capital: Shares of Rs.10 each fully paid 28,00,000
Debenture redemption reserve 1,80,000
First Interim Dividend Paid 1,00,000
Second Interim Dividend 2,00,000
Cash 4,00,000
United Bank - Current Account 2,00,000
Union Bank- Saving 2,00,000
Customers’ dues –Unsecured and considered good 25,00,000
Customers’ dues – –Unsecured and considered doubtful 11,50,000
Loans and Advances ( receivable after one year) 34,00,000
Prepaid Expenses (less than a year) 1,50,000
Trade Creditors 3,80,000
Creditors for Expenses 1,20,000
Fixed Assets :
- Cost 78,00,000
- Provision for Depreciation 45,50,000
Inventory – Raw material 10,00,000
Opening Balance of Profit and loss account 10,00,000
Profit for the year 7,00,000
Term loan from IDBI 6,00,000
Term loan from ICICI 5,00,000
8% Bond 8,00,000
Public deposit (Payable after one year) 50,000
Provision for Gratuity (within one year) 3,00,000
Inventory– Stock in Trade 5,00,000
Investment 8% Tax free NABARD Bond 6,00,000
Investment in Equity Shares 7,00,000
Capital WIP – Plant and Machinery 6,50,000
Patents 5,50,000
Trade mark 5,50,000
Security Deposit (Receivable after one year) 13,90,000
Provision for leave encashment (payable after one year) 4,00,000

General reserve 5,50,000
Bank over draft 7,80,000
Loans and Advances (within one year) 13,50,000
2,61,90,000 2,61,90,000
st
You are asked to prepare the balance sheet as on 31 March, 2016, giving the information
required by the Companies Act 1956 in the manner so required to the extent it is available from
the above data.
PART II – FORM OF STATEMENT OF PROFIT AND LOSS
Name of the Company……………………….
Profit and Loss Statement For the Year Ended…………………..
(Rupees in…………………….)
Particulars Note Figures for the Figures for the

No current previous
reporting reporting period
period
I. Revenue From Operations
II. Other Income
III. Total Revenue
IV. Expenses:
Cost of Materials Consumed
Purchases of Stock-in-Trade
Changes in Inventories of Finished goods,
Work-in-Progress and Stock-in-Trade
Employee Benefits Expense
Finance Cost
Depreciation and Amortization Expense
Other Expenses
Total Expenses
V. Profit Before Exceptional and
Extraordinary Items
and Tax
VI. Exceptional and Extraordinary Items
VII. Profit before tax
VIII. Tax Expense:
IX. Profit/(Loss)
Q1) From the following prepare profit and loss account of OXFORD Limited for the year
ended March 31,2016
Particulars Debit (Rs in Credit (Rs in

crore) crore)
Sale of Product 929
Depreciation on Plant 42
Opening stock of raw material 22
Opening stock of WIP 26
Opening stock of Finished goods 32
Opening stock of Stock in trade 31

Interest received 22
Dividend received 21
Commission received 16
Purchases of raw material 120
Purchases of stock in trade 110
Interest on Bank loan 42
Profit on sale of asset 15
Depreciation on Furniture 20
Interest on Debenture 50
Advertisement 10
Salary and wages 30
Bonus to employee 20
Amortization of patent 10
Warehousing cost 10
Foreign exchange gain (net) 20
Loss on sale of asset 5
Free samples 10
Power and fuel 10
Loss on sale of investment 10
Printing and stationery 23
Bad debts 23
Gratuity paid 20
Legal expenses 10
Commission paid 8
Carriage outward 10
Leave encashment paid 20
Director salary 15
Provision for Bad debts 32
Factory rent 28
Office rent 32
Depreciation on computer 21
Repairs on plant and Machinery 20
Closing stock of raw material 20
Closing stock of WIP 25
Closing stock of Finished goods 30
Closing stock of Stock in trade 32
Insurance premium 14
Contribution to provident fund 22
Interest on income tax refund 23
Net gain on disposal of plant and machinery 24
Provision no longer required written back 22
Profit on sale of subsidiary in UK 200
(exceptional and extraordinary )
Tax rate- 35%
Q2) From the following prepare profit and loss account of Palmolive Limited for the year
ended March 31,2016

crore) crore)
Sale of goods- tooth paste 1290
Profit on sale of investment 42
Opening stock of Raw material 40
Depreciation on Factory building 23
Dividend received from subsidiary in Canada 24
Dividend received from Joint venture in 24
Russia
Depreciation on office Building 29
Provision for leave encashment 22
Director salary 21
Amortization of patent 25
Purchase of raw material 150
Amortization of Trade mark 16

Factory rent 14
Office rent 12
Repairs on plant and Machinery 21
Advertisement 12
Salary and wages 32
Bonus to employee 21
Warehousing cost 11
Foreign exchange loss (net) 22
Bad debts 21
Provision for gratuity 20
Legal expenses 10
Commission paid 8
Carriage outward 10
Provision for VRS 20

Compensated absences paid 12
Staff welfare expenses paid 10
Loss on sale of project in Ranchi (Exceptional 225

and extraordinary)
Rental income received 24
Closing stock of Raw material- 32, WIP-34, Finished goods-28, Stock in trade -29. Tax rate is
35%
HOME WORK SECTION
Q3) From the following prepare profit and loss account of Nano Limited for the year ended
March 31,2016

crore) crore)
Sale of goods and services 2190
Dividend received 34
Interest received on 8% Bond 25
Profit on sale of investment 20
Opening stock of Raw material 82
Depreciation on office furniture 25
Depreciation on Factory Building 26
Depreciation on Plant 32
Depreciation on Delivery van 23
Profit on sale of asset 24
Purchases of raw material 152
Depreciation on office Building 29
Provision for leave encashment 22
Director salary 22
Amortization of Trade mark 25
Amortization of Patent 18
Amortization of copyright 14
Office rent 12
Repairs on Plant and Machinery 22

Advertisement 11
Salary and wages 30
Warehousing cost 13
Foreign exchange Gain (net) 21
Bad debts 22
Provision for gratuity 21
Provision for VRS 10
Commission paid to Selling agent 18
Factory rent 13
Legal expenses 21
Interest on income tax refund 20
Miscellaneous income 1
Provision longer required written back 20
Lease rental 10 12
Staff welfare expense 5
Processing charges 10
Freight forward charges 2
Auditors remuneration 7
Royalty 9
Expenditure towards CSR 12
Interest on deposit with bank 12
Closing stock of Raw material- 32, WIP-34, Finished goods-28, Stock in trade -29.

Balance Sheet and Profit and Loss Account - Final

Uploaded by

Copyright:

Available Formats

Balance Sheet and Profit and Loss Account - Final

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Balance Sheet and Profit and Loss Account - Final

Uploaded by

Copyright:

Available Formats

CA.CS.CMA.MBA: Naveen.

Rohatgi NMIMS Pharmacy- FM 1

PART I – FORM OF BALANCE SHEET

Name of the Company……………………….

Balance sheet as on …………………..

Particulars Note Figures for the Figures for the

II. Current assets

III. Current liabilities

1).Property, Plant and Equipment

(i) Classification shall be given as:

4) Other Intangible assets

5) Intangible assets under development:

(i) Classification shall be given as:

(a) Brands / trademarks;

(b) Computer software;

(c) Mining rights;

(e) Recipes, formulae, models, designs and prototypes;

(f) Licenses and franchise;

(g) Others (specify nature).

(i) Investments shall be classified as:

(a) Investments in Equity Instruments;

(b) Investment in Preference Shares;

(c) Investments in Government or trust securities;

(d) Investments in debentures or bonds;

(e) Investments in Mutual Funds;

(f) Investments in partnership firms; or

(g) Other investments (specify nature).

(i) subsidiaries, (ii) associates, (iii) joint ventures

7) Non-current Trade Receivables

Non-current Trade Receivables, shall be sub-classified as:

(i) (a) Secured, considered good;

(b) Unsecured considered good;

(i) Loans shall be classified as:

(a) Security Deposits;

(b) Loans to related parties (giving details thereof);

(c) Other loans (specify nature).

(ii) The above shall also be separately sub-classified as:

(a) Secured, considered good;

(b) Unsecured, considered good;

(ii) Goods-in-transit shall be disclosed under the relevant sub-head of inventories.

(iii) Mode of valuation shall be state

(i) Investments shall be classified as:

(a) Investments in Equity Instruments;

(b) Investment in Preference Shares;

(c) Investments in Government or trust securities;

(d) Investments in debentures or bonds;

(e) Investments in Mutual Funds;

(f) Investments in partnership firms; or

(g) Other investments (specify nature).

(i) subsidiaries, (ii) associates, (iii) joint ventures

Non-current Trade Receivables, shall be sub-classified as:

(i) (a) Secured, considered good;

(b) Unsecured considered good;

6) Current Loans and advances

(i) Loans shall be classified as:

(a) Security Deposits;

(b) Loans to related parties (giving details thereof);

(c) Other loans (specify nature).

(ii) The above shall also be separately sub-classified as: