What is vertical format of balance sheet?
A vertical balance sheet is one in which the balance sheet presentation format is a single column of numbers, beginning with asset line items, followed by liability line items, and ending with shareholders’ equity line items. Within each of these categories, line items are presented in decreasing order of liquidity.
How do you make a revised balance sheet?
Format A — Balance Sheet:
- Schedule I — Capital:
- Schedule II — Reserves and Surplus:
- Schedule III — Deposits:
- Schedule IV — Borrowings:
- Schedule V — Other Liabilities & Provisions:
- Schedule VI — Cash and Balance with RBI:
- Schedule VII — Balance with Banks and Money at Call & Short Notice:
- Schedule VIII — Investments:
What is difference between horizontal and vertical balance sheet?
The Difference Between Horizontal and Vertical Balance sheets is of presentation. In the horizontal balance sheet, the assets and liabilities are shown side by side but in the vertical balance sheet, the assets and liabilities are shown from top to bottom.
What is the schedule 6?
The Sixth Schedule consists of provisions for the administration of tribal areas in Assam, Meghalaya, Tripura and Mizoram, according to Article 244 of the Indian Constitution. ADCs are bodies representing a district to which the Constitution has given varying degrees of autonomy within the state legislature.
What is a revised balance sheet?
The Revised Balance Sheet shall be prepared in accordance with the Initial Balance Sheet using the same principles as were used in preparing the Initial Balance Sheet and making the initial calculation of the Closing Date Payment based thereon. …
What is important in balance sheet?
Many experts consider the top line, or cash, the most important item on a company’s balance sheet. Other critical items include accounts receivable, short-term investments, property, plant, and equipment, and major liability items. The big three categories on any balance sheet are assets, liabilities, and equity.
What are the changes in the balance sheet format?
Format a balance sheet. Further the revised schedule vi format prescribes such below the line adjustments to be presented under reserves and surplus in the balance sheet. As per revised schedule vi any item of income or expense which exceeds one. The balance sheet contains 12 schedules which are.
Which is revised schedule VI in Excel format?
Revised Schedule VI in Excel Format – Balance Sheet, Profit Loss A/c, Notes Ministry of Corporate Affairs [MCA], Government of India, has on 3 March 2011, hosted on its website, the revised Schedule VI to the Companies Act, 1956 which d Revised Schedule VI in Excel Format – Balance Sheet, Profit Loss A/c, Notes
What are the items in Schedule V of the balance sheet?
Schedule V — Other Liabilities & Provisions: (4) Others (including provisions). It is the fifth item under the head “Capital and Liabilities”. 6. Schedule VI — Cash and Balance with RBI: (2) Balances with RBI (in Current Account, in other accounts). It is the first item under the head “Assets”.
How are profit and loss disclosed in Schedule VI?
Format balance sheet and profit and loss were disclosed either in horizontal format or in vertical format 2 disclosure in balance sheet equity and format liabilities and assets are disclosed. Further the revised schedule vi format prescribes such below the line adjustments to be presented under reserves and surplus in the balance sheet.