Question

schedule 12 of banking companies balance sheet stands for ​

Answer 1

Answer:

Thus, Profit and Loss Account will present the net result of the operation. This accounts deals with the expenses and incomes of the current year, i.e. if incomes exceed expense, this is profit, and vice versa in the opposite case. The same is brought forward.

Explanation:

Answer 2

Accounting Standard 12 deals with representing government awards and contingent liability.

• A contingent liability is a liability that might happen contingent upon the result of a questionable future occasion.
• A contingent liability is recorded assuming the contingency is possible and how much the liability can be sensibly assessed.
• Such awards are presented by the public authority, government organizations, and comparative bodies including neighborhood, public, or worldwide.
• These administration awards are some of the time alluded to as appropriations, cash motivators, obligation disadvantages, and so forth

Be that as it may, AS 12 doesn't manage the accompanying things:

1. Explicit issues emerging because of representing government awards in budget summaries. Such issues feature the effect of changing costs or other data comparative in nature.
2. Government support other than the one that is as government awards
3. Cooperation of government concerning proprietorship in an endeavor