The Balance Sheet, Part I of Schedule III
Chapter Forty-Seven
Syllabus topic 6, "Preparation of Balance Sheet Part I of Schedule III"
Pages 145 to 149 of 168
In one line
The Schedule III balance sheet is a vertical statement in two halves, equity and liabilities above and assets below, each classified as current or non-current, with every figure cross-referenced to a note.
The prescribed form
Part I of Schedule III sets the heading exactly.
Name of the Company Balance Sheet as at .... (Rupees in ....)
Four columns: Particulars, Note No., figures as at the end of the current reporting period, figures as at the end of the previous reporting period.
I. EQUITY AND LIABILITIES
| Head | Sub-heads | |
|---|---|---|
| (1) | Shareholders' funds | (a) Share capital; (b) Reserves and surplus; (c) Money received against share warrants |
| (2) | Share application money pending allotment | No sub-heads |
| (3) | Non-current liabilities | (a) Long-term borrowings; (b) Deferred tax liabilities (net); (c) Other long-term liabilities; (d) Long-term provisions |
| (4) | Current liabilities | (a) Short-term borrowings; (b) Trade payables, split into total outstanding dues of micro and small enterprises and dues of other creditors; (c) Other current liabilities; (d) Short-term provisions |
| TOTAL |
II. ASSETS
| Head | Sub-heads | |
|---|---|---|
| (1) | Non-current assets | (a) Property, plant and equipment and intangible assets, itemised as (i) property, plant and equipment, (ii) intangible assets, (iii) capital work-in-progress, (iv) intangible assets under development; (b) Non-current investments; (c) Deferred tax assets (net); (d) Long-term loans and advances; (e) Other non-current assets |
| (2) | Current assets | (a) Current investments; (b) Inventories; (c) Trade receivables; (d) Cash and cash equivalents; (e) Short-term loans and advances; (f) Other current assets |
| TOTAL |
And under it, the line the Schedule itself prints: See accompanying notes to the financial statements.
Reproduce that heading and those two TOTALs in every answer. Marks are given for the form, and the form includes the words "as at", the Note No. column and the previous-period column.
Head by head, on the equity and liabilities side
Share capital. The face carries one figure. The note carries the detail, and Schedule III lists it for each class of share capital, preference classes treated separately: the number and amount authorised; the number issued, subscribed and fully paid, and subscribed but not fully paid; par value per share; a reconciliation of the number of shares outstanding at the beginning and the end; the rights, preferences and restrictions; shares held by the holding company; shares held by each shareholder holding more than five per cent; shares reserved under options; for the five preceding years, shares allotted without payment being received in cash, bonus shares, and shares bought back; terms of convertible securities; calls unpaid, showing separately those unpaid by directors and officers; forfeited shares, at the amount originally paid up; and the shareholding of promoters with the percentage change during the year.
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