FINANCIAL STATEMENTS OF A COMPANY
Financial
statements are the formal reports in a year through which the business firm communicates
financial information to its owners and various other stake holders which
include– investors, tax authorities, government, employees, etc.
Objectives
of Financial Statements
v To provide
information about economic resources and obligations of a business
v To provide
information about the earning capacity of the business
v To provide
information about cash flows
v To judge
effectiveness of management
v Information about
activities of business affecting the society
v Disclosing
accounting policies
Types of Financial Statements
Financial
statements include two statements: Balance sheet and Statement of profit and
loss.
Balance Sheet
Balance sheet of a company is prepared and
presented in the form prescribed in (Revised) Schedule VI of the Companies Act,
1956.
Balance Sheet as
at 31st March, 20.....
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Particulars
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Note
No.
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Figure
as at the end of Current reporting period
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Figure
as at the end of Previous Reporting period
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I.
EQUITY AND LIABILITIES
1)
Shareholder’s Funds
(a) Share
Capital
(b) Reserves and
Surplus
(c) Money
received against share warrants
2)
Share Application Money Pending Allotment
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
(c) Other
current liabilities
(d) Short-term
provisions
Total
II.ASSETS
1)
Non-current Assets
(a) Fixed assets
(i) Tangible
assets
(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
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Statement of Profit and Loss
Form
for preparing statement of profit and loss under (Revised) Schedule VI, Part-II
of the companies Act 1956.
Statement of Profit and Loss for the year
ended ______________
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Sl.
No.
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Particulars
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Note No.
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Figure as at the end
of Current reporting period
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Figure as at the end of Previous
Reporting period
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1
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Revenue from
operations
(i) Sale of
products
(ii) Sale of
services
(iii) Other
operating revenues
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2
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Other income
(i)
Interest income
(ii)
Dividend income,
(iii)
Net gain/loss on sale of investments,
(iv)
Other non-operating income
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3
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Total Revenue
(1+2)
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4
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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 costs
Depreciation and
amortization expense
Other expenses
Total expenses
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5
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Profit before Exceptional
items and tax
(3-4)
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6
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Exceptional
items
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7
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Profit before extraordinary
items and tax
(5-6)
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8
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Extraordinary
items
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9
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Profit before
tax (7-8)
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10
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Tax expense:
(1) Current tax
(2) Deferred tax
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11
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Profit/(Loss)
for the period from continuing
operations (9-10)
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12
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Profit/(Loss)
from discontinuing operations
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13
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Tax expense of
discontinuing operations
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14
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Profit/(Loss)
from Discontinuing operations
(after tax)
(12-13)
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15
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Profit/(Loss)
for the period (11+ 14)
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16
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Earnings per
equity share:
(1) Basic
(2) Diluted
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