Page 323 - DCOM201_ACCOUNTING_FOR_COMPANIES_I

Accounting for Companies-I

Notes notification of the Government of India, in the Ministry of Industrial Development and Company
Affairs (Department of Company Affairs) G.S.R. No. 129, dated the 3rd day of January, 1968 any
balance sheet in relation to which the paragraph applies has already been made in the first
balance sheet made out and laid before the company in its annual general meeting, the adjustment
referred to in this paragraph may be made out after the issue of the said notification.
Explanation 2: In this paragraph unless the context otherwise requires, the expression “rate of
exchange”, “Foreign currency” and “Indian currency” shall have the meanings respectively
assigned to them under sub-section (1) of Section 43A of the Income Tax Act (XLII of 1961) and
Explanation 2 and Explanation 3 of the said sub-section shall as far as may apply in relation to
the said paragraph, as they apply to the said sub-section (1).

Did u know? Except in the case of the first balance sheet laid before the company after the
commencement of the Act, the corresponding amounts of the immediately preceding financial
year for all items shown in the balance sheet shall be also given in the balance sheet.

13.2.2 Vertical Form of Balance Sheet

Name of Company ...................................
Balance Sheet as at ...................................
Figures as at the end Figures as at the end of the
Schedule No.
of the current year previous financial year
I Sources of Fund
1. Shareholder’s Funds
(a) Capital ..................................................... ..................... .....................
(b) Reserve and Surplus............................... ..................... .....................
2. Loan Funds
(a) Secured loans........................................... ..................... .....................
(b) Unsecured loans...................................... ..................... .....................
Total
II Applications of Funds
1. Fixed Assets
(a) Gross Block .............................................. ..................... .....................
(b) Less Depreciation.................................... ..................... .....................
(c) Net Block..................................................
(d) Capital Work-in-Progress ......................
2. Investment
3. Current Assets, Loans and Advances
(a) Inventories .............................................. ..................... .....................
(b) Sundry Debtors ...................................... ..................... .....................
(c) Cash and Bank Balance .......................... ..................... .....................
(d) Other current Assets .............................. ..................... .....................
(e) Loans and Advance ............................... ..................... .....................
Less: Current liabilities And provisions
(a) Liabilities ................................................. ..................... .....................
(b) Provision ................................................. ..................... .....................
Net Current Assets
4. (a) Miscellaneous expenditure to
the extent not written off or
adjusted ................................................... ..................... .....................
(b) Profit and loss Account ......................... ..................... .....................
Total ..................... .....................

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