Accountancy, asked by rahulpanday3259, 10 months ago

According to schedule 3 of compaies act 2013, debentures are shown in the company,'s balace unde the fund

Answers

Answered by yashwant291205

Explanation:

GENERAL INSTRUCTIONS FOR PREPARATION OF BALANCE SHEET AND

STATEMENT OF PROFIT AND LOSS OF A COMPANY

GENERAL INSTRUCTIONS

1. Where compliance with the requirements of the Act including Accounting Standards

as applicable to the companies require any change in treatment or disclosure including

addition, amendment, substitution or deletion in the head or sub-head or any changes,

inter se, in the financial statements or statements forming part thereof, the same shall be

made and the requirements of this Schedule shall stand modified accordingly.

2. The disclosure requirements specified in this Schedule are in addition to and not in

substitution of the disclosure requirements specified in the Accounting Standards prescribed

under the Companies Act, 2013. Additional disclosures specified in the Accounting Standards

shall be made in the notes to accounts or by way of additional statement unless required to

be disclosed on the face of the Financial Statements. Similarly, all other disclosures as

required by the Companies Act shall be made in the notes to accounts in addition to the

requirements set out in this Schedule.

3. (i) Notes to accounts shall contain information in addition to that presented in the

Financial Statements and shall provide where required (a) narrative descriptions or

disaggregations of items recognised in those statements; and (b) information about items

that do not qualify for recognition in those statements.

(ii) Each item on the face of the Balance Sheet and Statement of Profit and Loss shall

be cross-referenced to any related information in the notes to accounts. In preparing the

Financial Statements including the notes to accounts, a balance shall be maintained between

providing excessive detail that may not assist users of financial statements and not providing

important information as a result of too much aggregation.

4. (i) Depending upon the turnover of the company, the figures appearing in the

Financial Statements may be rounded off as given below:—

Turnover

Rounding off

(a) less than one hundred crore rupees

To the nearest hundreds, thousands, lakhs

or millions, or decimals thereof.

(b) one hundred crore rupees or more

To the nearest lakhs, millions or crores, or

decimals thereof.

(ii) Once a unit of measurement is used, it shall be used uniformly in the Financial

Statements.

5. Except in the case of the first Financial Statements laid before the Company (after its

incorporation) the corresponding amounts (comparatives) for the immediately preceding

reporting period for all items shown in the Financial Statements including notes shall also be

given.

6. For the purpose of this Schedule, the terms used herein shall be as per the applicable

Accounting Standards.

Note:—This part of Schedule sets out the minimum requirements for disclosure on the face

of the Balance Sheet, and the Statement of Profit and Loss (hereinafter referred to as

“Financial Statements” for the purpose of this Schedule) and Notes. Line items,

sub-line items and sub-totals shall be presented as an addition or substitution on

the face of the Financial Statements when such presentation is relevant to an

understanding of the company’s financial position or performance or to cater to

industry/sector-specific disclosure requirements or when required for compliance

with the amendments to the Companies Act or under the Accounting Standards.

PART I — BALANCE SHEET

Name of the Company…………………….

Balance Sheet as at ………………………

(Rupees in…………)

Particulars

Note No.

Figures as at the end of current reporting period

Figures as at the end of the previous reporting period

Answered by GETlost0hell

Answer:

Explanation:

PREPARATION OF BALANCE SHEET AND