How many schedules of final accounts of banking companies?
Answers
Answered by
5
Answer:
There are 16 schedules in banking companies financial accounts
Explanation:
- Capital
- Reserves & Surplus
- Deposits
- Borrowings
- Other Liabilities and provisions
- Cash and Balances
- Balances with Banks & Money at Call & Short notice
- Investments
- Advances
- Fixed Assets
- Other Assets
- Contingent Liabilities
- Interest earned
- Other income
- Interest Expended
- Operating expenses
Answered by
1
Answer:
The schedules of final accounts of banking companies are as follows:
Explanation:
The final accounts of banking companies are divided into
(a) Current Accounts Ledger
(b) Saving Bank Accounts Ledger
(c) Fixed Deposit Accounts Ledger
(d) Investment ledger
The Banking Regulation act, of 1949 defines forms of qualifying final accounts of the Banking companies. The third schedule of section 29 provides forms 'A' for the balance sheet and Form 'B' for the Profit and loss account. There exist 16 schedules in banking companies financial accounts. Therefore, the schedules of final accounts of banking companies are as follows:
- Capital
- Reserves and Surplus
- Deposits
- Borrowings
- Other Liabilities and provisions
- Cash and Balances
- Balances with Banks and Money at Call and Short notice
- Investments
- Advances
- Fixed Assets
- Other Assets
- Contingent Liabilities
- Interest earned
- Other income
- Interest Expended
- Operating expenses
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