Indian Financial Statement Excel Audit Software

Application Guidance for Accounting Standards in India
This is a tool for the preparation and presentation of financial statements of

small and medium enterprises. It has been prepared keeping in view the
requirements of Schedule VI of the Companies Act, 1956 and the Accounting
Standards prescribed by ICAI. It assists in the preparation of financial
statements and includes most of the disclosures applicable to small to
medium businesses. It can be used by non-corporates also, by skipping some
of the disclosures of Schedule VI not applicable to them.
How to use the model?

Getting Started
Trial Balance
Balance Sheet
Profit and Loss Account
Schedules to Balance Sheet
Schedules to Profit and Loss Account
Cash Flow Statement
Notes to Accounts
Balance Sheet Abstract
Groupings to Profit and Loss Account
Groupings to Balance Sheet
Disclaimer: This model is only a guide. The objective is to ensure that all the
prescriptions and disclosures required by Schedule VI and the Accounting Standards
are made available. The Trial balance may require modifications/additions. Similarly
the Schedules/ Notes may ask for changes based on the requirements of individual
entities. The results are subject to the customization required.
Password to unprotect the sheets : acc

Recommended : Take a print out of this page before proceeding
How to use the model?

To begin, all you need is a list of all account balances (trial balance) as at the beginning of the period,and the totals of
during the year/period for each account. To go ahead, follow the steps below:
Step 1: Enter the general information of your company in the "General Info" sheet. Click on the OK button.
Step 2: A model trial balance is given in sheet "TB". This contains the list of the most commonly used account
Update the account balances of your Trial balance into the model trial balance. To do this, you can eith
manually against the relevant account head, or if your trial balance is in the excel format, it can be linke
cell reference in the cells(See note 3). The following information is relevant for the model trial balance:
1. Opening Balances: The opening balances for all items of assets and liabilities. For your ease, the ite
and other irrelevant cells have been shaded in grey colour and no d
2. Transactions : The total of debit transactions and credit transactions in a particular account durin
with reference to items of assets,liablities, income and expenses.
The account names used in the trial balance are generalised. You can modify the account description b
names. For example, in the model trial balance, an account head appears as " Secured Term Loans fro
overwrite this with an account name more meaningful to you say,"Term Loan- ICICI bank- 10 Lakhs". F
both in the balance sheet and Profit and Loss Account, the account name follows with the words "B/S I
their nature of their balance.
To locate the account names easily, you can use the Ctrl+ F option. Just type the keyword and browse
account names.
If you cannot find an account name you are looking for, you can insert additional account in the followin
A new account can be inserted only in specific areas in the trial balance,i.e.,before the rows shaded wi
When you place the cell pointer in the first column of the blue cells, a comment appears which indicate
be inserted in that place. Go to the blue cell which indicates the account type you want to insert. Then
in the blue cell, and fill in the balances.
Any number of rows can be inserted before the blue shaded rows to insert additional accounts of the ty
care should be taken to copy the closing balance formula from the previous row.
If your trial balance has not been adjusted for closing entries like those for closing stock, appropriations
can be directly manually entered in the model trial balance. For accounts of this nature, the model trial
one in the nature of Profit and Loss Account Item and other in the nature of a Balance Sheet Item. To p
relevant opposite effect in the two types of accounts. For example, to pass the entry for "Appropriation
item called "General Reserve (P&L Item)" and credit the item called "General Reserve (B/S Item)" in th
Similarly to create a provision, debit the relevant item of Profit and Loss Account and credit the Balance
create provision for salaries, debit "Salaries to staff"account and credit "Provision for salaries" account.
for reversal of provisions.
For transfer of amount from one reserve to another, the debit and credit effect has to be given in the B/
If you want to enter the trial balance afresh, click on the RESET button.
Once you are done, Click on the DONE button.
Step 3: In case you have inserted an additional row (not merely typing in the blue row) for a new account in
to be updated in the Groupings to Profit and Loss Account/ Groupings to Balance Sheet, as the case m
steps below:
a. Go to either "Groupings to Profit and Loss Account" (GR PL) or "Groupings to Balance Sheet"(GR B
for the account newly created in the trial balance, that is, if the new account is in the nature of asset/l
Grouping, or if it is in the nature of income/expense, go to the Profit and Loss Account grouping.
b. Locate the grouping under which the newly created account falls. This can be done by searching the
option.
c. Each grouping to the Profit and Loss Account/Balance Sheet contains a row shaded in blue
the grouping, update the new account description and the opening/closing balance in the blue shade
d. One blue row is provided in each grouping to update the extra accounts. In case more than one acco
to be updated by inserting additional rows before the blue rows(See note 2)
The rows shaded in red color contain the totals of the groupings. They are not to be modified or altered
Step 4: Go to the "Groupings to Profit and Loss" Sheet. Update the figures of all income and expenses relating
in the cells shaded in green color.
Step 5: Go to the "Schedule" (Sch) sheet. It contains letters written in blue xxx These are to be overwritten
For example, the number of equity shares, face value, etc.
In case the newly added account in the Trial balance is such that would require descriptional disclosure
sheet, it can be done by inserting additional rows in the appropriate place (See note 2).
The Schedules also contains boxes shaded in blue These boxes are to be mandatorily fille
irrelevant.
The cells shaded in green have to be filled up with the corresponding previous year figur
Step 6: In the "Profit and Loss Account" (P&L)sheet, and cells have to be updated with
respectively.
Step 7: Go to the "Cash flow statement"(CF) sheet. Fill in the green and blue shaded cells which previous year
applicable. In case new accounts which involve cash inflow/outflow are inserted in the trial balance the
the relevant links in the cash flow statement are modified accordingly (See note 2).
If discontinuing operations are applicable, update the figures in the second table.
Certain kinds of transactions, which are routed through reserves and share premium account, like issue
of dividend from general reserve, grants received etc., may require suitable modifications to be done i
Step 8: The general format of notes to accounts including Significant Accounting Policies are given. These can
based on the facts and circumstances. To modify, first unprotect the sheet (See note 2). Then just
needs to be modified. A small word document opens. Make necessary changes, and once you are thro
excel sheet area to view the changed text.
Step 9: In The "Balance Sheet Abstract and General Business Profile" key-in the details like state code of the c
product description.
Step 10: Before taking a print out of the statements, check the page alignment. You can hide (not delete)
your requirements. If colour option is not required, print can even be taken in black and white.
Note 1: Schedule VI of the Companies Act provides for rounding off rules. They are as under:
Where the turnover of the company in any financial year is Round off Permissible:
(i) Less than one hundred crore rupees to the nearest hundreds or thousands, o
decimals thereof.
(ii) One hundred crore rupees or more but less than five to the nearest hundreds, thousands,
hundred crore rupees lakhs or millions, or decimals thereof.
(iii) five hundred crore rupees or more to the nearest hundreds, thousands,lakh
millions,or crores or decimals thereof.
Accordingly, while entering the figures in the trial balance, care should be taken to adhere to the above
Note 2: Before making changes like inserting additional rows, or modifying the notes to accounts, the sheet ha
the sheet, click on Tools Protection Unprotect. A current password is 'acc'. It can be modified
Note 3: The trial balance of a typical accounting software,for example,Tally, will list the accounts in the followin
Balance Sheet Debit balances, Profit and Loss Account credit items, Profit and Loss Account debit side
balance of this model, the accounts have been arranged in the alphabetical order. For quick updation o
or by linking) in the model trial balance, follow the steps below:
a. Import the Accounting Software Trial Balance into a different excel file. A small trial balance contai
Account name Opening Transactions Closing

Dr Cr. Dr. Cr. Dr.
Share Capital 500

Plant and Machinery 250 250
Dividend Income 600
General Expenses 400
b. Select the imported data, as shown below:

Dr Cr. Dr. Cr. Dr.
Share Capital 500

Dividend Income 600
c. Then click on Data Sort. The sort dialog box appears. In the Sort by drop down box, select the c
account names of the imported Trial balance appear. In the above example, the account names appea
sorting option as ascending and select " No Header Row". The trial balance will now appear in the asce

Dr Cr. Dr. Cr. Dr.
Dividend Income 600

Share Capital 500
d. Now your Trial balance is alphabetically sorted, and updation / linking to the model trial balance can
Note 4: Small text messages called "Help Notes" will guide you through the data entry process at the relevant a
Note 5: To get a better view of any of the subsequent sheets, freeze or unfreeze the panes according to your c
do so, select the row where you want to freeze or unfreeze and select Window Freeze/Unfreeze p
s page before proceeding.
the period,and the totals of the debit and credit transactions
Click on the OK button.
st commonly used account names/heads.

nce. To do this, you can either key-in the balances
excel format, it can be linked by giving the appropriate
for the model trial balance:
ilities. For your ease, the items of Profit and Loss Account
colour and no data need to be entered there.
in a particular account during the year/period. This is
expenses.
ify the account description by over writing on the generic

as " Secured Term Loans from Bank 1". You can
an- ICICI bank- 10 Lakhs". For certain items which appear
ollows with the words "B/S Item" or "P&L Item" to clarify
pe the keyword and browse through the matching
ional account in the following manner.

,before the rows shaded with blue (See note 2).
ment appears which indicates the type of account that can
pe you want to insert. Then just type the account description
additional accounts of the type indicated there. In that case,
closing stock, appropriations,certain provisions, etc. they

this nature, the model trial balance has two account names -
a Balance Sheet Item. To pass the entry manually, give the
the entry for "Appropriation to General Reserve", debit the
al Reserve (B/S Item)" in the transaction columns.
count and credit the Balance Sheet item.For example, to
vision for salaries" account. The opposite effect to be given
ect has to be given in the B/S items of the respective reserves.

e row) for a new account in the trial balance, the same has
alance Sheet, as the case may be. To do this, follow the
gs to Balance Sheet"(GR BS) sheet which ever is relevant

nt is in the nature of asset/liability, go to the Balance Sheet
oss Account grouping.
an be done by searching the keyword using the Ctrl+F
row shaded in blue Once you have located

g balance in the blue shaded row.
In case more than one account is to updated, they have
not to be modified or altered.
come and expenses relating to the last financial year.
These are to be overwritten to describe the necessary
uire descriptional disclosure in the Schedule to Balance
s are to be mandatorily filled up manually, unless they
ponding previous year figures.
ells have to be updated with current and last year figures
ed cells which previous year and current year figures, as

erted in the trial balance then it has to be ensured that
premium account, like issue of bonus shares, payment

e modifications to be done in the cash flow statement.
olicies are given. These can be altered to suit your needs

(See note 2). Then just double click on the area which
nges, and once you are through, click anywhere in the
etails like state code of the company, dividend rate and
can hide (not delete) the rows which are irrelevant to

n black and white.
Round off Permissible:

st hundreds or thousands, or
st hundreds, thousands,
ons, or decimals thereof.
st hundreds, thousands,lakhs,
ores or decimals thereof.
aken to adhere to the above rules.

s to accounts, the sheet has to be unprotected. To unprotect
d is 'acc'. It can be modified to your choice.
the accounts in the following order:Balance Sheet credit items,

and Loss Account debit side items. However, in the trial
order. For quick updation of account balances (either manually
A small trial balance containing 4 items may look like as below:
Closing
Cr.
500
Closing
Cr.
500
drop down box, select the column name in which the
, the account names appear in Column D. Select the
e will now appear in the ascending order, like this:
Closing
Cr.
500
the model trial balance can be done easily.
try process at the relevant areas.
e panes according to your convenience. To

dow Freeze/Unfreeze panes.
General Company Information
Name of the company : Gulf Builders & Contractors L.L.C.
Address :
Place :
Board Of Directors
1. Managing Director :
2. Executive Director :
3 Non Executive Director :
Name and Address :

of Auditors
Date of financial statements :
Date of last financial :

statements
Gulf Builders & Contractors L.L.C.
TRIAL BALANCE AS ON 30-Dec-99
Balance as on 30-12-1899 Transactions Balance as on 30-12-1899

Dr Cr Dr Cr Dr Cr
(Rs. in …….) (Rs. in ……) (Rs. in …….) (Rs. in ……) (Rs. in …….) (Rs. in ……)
Accumulated amortisation on Goodwill 500 200 - 700

Accumulated amortisation on Other leased assets 150 - 150
Accumulated amortisation on Patents and Trademarks - -
Accumulated amortisation on Software - -
Accumulated amortisation on Technical knowhow - -
Accumulated amortisation on Leasehold building - -
- -
Accumulated amortisation on Leasehold land 100 50 - 150
Advance FBT AY xxxx 5,000 5,000 -
- -
Advance FBT AY xxxx 2,000 2,000 -
Advance Income Tax AY xxxx 1,500 1,500 -
- -
Advance Income Tax AY xxxx 750 750 -
Advance received from customer 1 2,000 1,000 - 1,000
- -
Advance received from customer 2 2,500 5,680 - 3,180
Advance given towards travelling expenses 3,000 1,500 1,500 -
Advance given towards commission 2,000 900 - 1,100
- -
Advance towards expenses-others 1,000 2,600 - 1,600
Advances given to firm1 5,000 200 2,000 3,200 -
- -
Advances given to firm2 2,000 5,000 1,000 2,000 -
Advances given to firms written off 1,000 1,000 -
Advances given to subsidiary1 2,600 3,000 2,600 3,000 -
- -
Advances given to subsidiary 2 - -
Advances given to subsidiaries written off 400 400 -
Advances to suppliers- party 1 5,000 5,000 2,000 8,000 -
- -
Advances to suppliers- party 2 - -
Adverstisement 9,000 200 8,800 -
Amalgamation Adjustment Account - -
Amortisation on Goodwill 200 200 -
Amortisation on Other leased assets 150 150 -
Amortisation on Patents and Trademarks - -
Amortisation on Software - -
Amortisation on Technical knowhow - -
Amortisation on Leasehold building - -
- -
Amortisation on Leasehold land 50 50 -
Architect fees 680 680 -
Audit Fees Payable 1,200 - 1,200
Bad Debts 950 950 -
Balance of profit and loss a/c of amalgamating company 800 - 800
Balance with customs, port trust,etc 2,500 2,500 - -
Bank- Current Account with scheduled bank 1 4,000 - 4,000
- -
Bank- Current Account with scheduled bank 2 800 2,500 - 1,700
Bank- Non scheduled bank XXX - call account 1 500 1,000 - 500
- -
Bank- Non scheduled bank XXX - call account 2 2,000 1,000 1,000 -
Bank- Non scheduled bank XXX - current a/c 1 900 900 - -
- -
Bank- Non scheduled bank XXX - current a/c 2 9,000 40,000 350 48,650 -
Bank- Non scheduled bank XXX - deposit 1 3,000 1,000 - 4,000
- -
Bank- Non scheduled bank XXX - deposit 2 5,200 2,750 2,450 -
Bank- Non scheduled bank YYY - call account 1 800 2,600 2,000 1,400 -
- -
Bank- Non scheduled bank YYY - call account 2 2,200 300 1,900 -
Bank- Non scheduled bank YYY - current a/c 1 12,010 600 11,410 -
- -
Bank- Non scheduled bank YYY - current a/c 2 300 160 140 -
Bank- Non scheduled bank YYY - deposit 1 3,000 1,000 2,000 -
- -
Bank- Non scheduled bank YYY - deposit 2 5,200 5,000 200 -
Bank-Call account with scheduled bank 1 75,000 19,000 56,000 -
- -
Bank-Call account with scheduled bank 2 200 275 - 75
Bank-Deposit account with scheduled bank 1 5,000 600 6,000 - 400
- -
Bank-Deposit account with scheduled bank 2 500 2,000 - 1,500
- -
Banking Cash Transaction Tax 75 1,300 - 1,225
Bank-Margin money account with scheduled bank 1 600 - 600
- -
Bank-Margin money account with scheduled bank 2 - -
Bills receivable - inland 2500 1500 3,000 1,000 -
- -
Bills receivable - foreign 1500 3000 200 1,300 -
Bonus payable 6,000 2,000 - 8,000
- -
Bonus to staff 3,000 3,000 -
Bonus to workers 500 500 -
Calls in arrears 500 500 - -
Canteen Expenses 160 160 -
Canteen income 300 - 300
Capital redemption reserve(B/S Item) 5,000 1,000 - 4,000
Capital redemption reserve(P/L Item) 1,000 - 1,000
Capital reserve(B/S Item) 2,000 1,000 - 1,000
Capital reserve(P/L Item) 1,000 - 1,000
Capital Work in progress - Intangible Assets 5,000 2,000 6,000 1,000 -
Capital Work in progress - Tangible Assets - -
Carriage outwards 830 200 630 -
Cash credit from bank 1 500 250 6,000 - 6,250
- -
Cash credit from bank 2 55,000 1,000 9,000 - 63,000
Cash in hand(including remittance in transit) 9,600 9,900 - 300
Cenvat receivable 8,000 1,000 14,000 - 21,000
Closing Stock - Raw material (B/S Item) 5,000 5,000 -
Closing Stock - Stores and spares (B/S Item) 4,000 4,000 -
Closing Stock- Byproducts (B/S Item) 300 300 -
Closing Stock- Finished goods(B/S Item) 6,500 6,500 -
Closing Stock- Waste and scrap (B/S Item) 200 200 -
Closing Stock- WIP (B/S Item) 100 100 -
Closing Stock - Raw material (P&L Item) 5,000 - 5,000
Closing Stock - Stores and spares (P&L Item) 4,000 - 4,000
Closing Stock- Byproducts (P&L Item) 300 - 300
Closing Stock- Finished goods (P&L Item) 6,500 - 6,500
Closing Stock- Waste and scrap (P&L Item) 200 - 200
Closing Stock- WIP (P&L Item) 100 - 100
Commission income - Job 1 5,200 - 5,200
- -
Commission income - Job 2 1,000 - 1,000
Computer stationery expenses 500 500 -
Computer - 1 50,000 6,000 50,000 6,000 -
- -
Computer - 2 8,000 2,000 6,000 -
Consultancy Charges Payable 900 - 900
Contibution to ESI - employer 8,500 8,500 -
Conveyance charges - local 2,150 2,150 -
Corporate dividend tax- final dividend(B/S Item) 600 - 600
Corporate dividend tax- final dividend(P/L Item) 1,000 1,000 -
- -
Corporate dividend tax- interim dividend(P/L Item) 200 200 -
Courier Charges 250 250 -
CST Collection & Payment a/c 5,000 150 200 4,950 -
Current Inv- quoted-Govt Securities- bond 1 2,000 2,000 4,000 -
Current Inv- non trade-fully paid -quoted-bonds 3,000 200 2,800 -
Current Inv- non trade-fully paid -quoted-equity 5,000 5,000 -
Current Inv-non trade-fully paid -unquoted-bonds 8,000 8,000 - -
Current Inv- non trade-fully paid -unquoted-equity 6,000 6,000 - -
Current Inv- non trade-investment in units 3,500 1,500 5,000 -
Current Inv- non trade-partly paid -quoted-bonds - -
Current Inv- non trade-partly paid -quoted-equity - -
Current Inv- non trade-partly paid -unquoted-bonds - -
Current Inv- non trade-partly paid -unquoted-equity - -
Current Inv- quoted-Govt Securities- bond 2 - -
Current tax 8,000 8,000 -
Current Inv- trade -investment in units - -
Current Inv- trade-fully paid -quoted-bonds 500 500 -
Current Inv- trade-fully paid -quoted-equity - -
Current Inv- trade-fully paid -unquoted-bonds - -
Current Inv- trade-fully paid -unquoted-equity - -
Current Inv- trade-partly paid -quoted-bonds - -
Current Inv- trade-partly paid -quoted-equity - -
Current Inv- trade-partly paid -unquoted-bonds - -
Current Inv- trade-partly paid -unquoted-equity - -
Current Inv-National savings certificates - -
Current Inv- Indira Vikas Patrika - -
Current Inv- Kisan Vikas Patrika - -
DD / TT Charges 50 50 -
Debenture redemption reserve(B/S Item) 5,000 2,000 - 3,000
Debenture redemption reserve(P/L Item) 2,000 - 2,000
Deferred tax 5,000 9,000 - 4,000
Depreciation-Computer 250 250 -
Depreciation- Development of Property 100 100 -
Depreciation-Electrical equipments 50 50 -
Depreciation-Freehold building - -
Depreciation-Furniture 250 225 25 -
Depreciation-Machinery - -
Depreciation-Office Equipments 250 50 200 -
Depreciation-Railway Sidings 200 100 100 -
Depreciation-Vehicles - -
- -
Designers fees 2,000 2,000 -
Development of property - 1 8,000 6,000 14,000 -
- -
Development of property - 2 - -
- -
Diesel Expenses - Generator - -
Diminution in value of investments 200 200 -
- -
Directors' Commission 6,000 6,000 -
Directors Commission Payable 5,000 - 5,000
Directors' Salary 9,000 9,000 -
- -
Directors Salary Payable 6,000 - 6,000
- -
Director's travel expenses 3,000 3,000 -
Disputed tax appeal account 300 300 -
Dividend from subsidiary 1 200 - 200
- -
Dividend from subsidiary 2 300 - 300
Dividend from trade investment 1 - -
- -
Dividend from trade investment 2 - -
Dividend income from other investment 1 - -
- -
Dividend income from other investment 2 - -
Dividend receivable - -
Donation - -
DTA- Brought forward business loss and unabsorbed depreciation - -
DTA- Expenditure allowable on actual payment - -
DTA- Provision for diminution in the value of investments - -
DTA- Provision for doubtful debts - -
DTA- Provision for excise duty 9,000 9,000 -
DTA- Provision for gratuity/pension - -
- -
DTA- Provision for impairment losses - -
DTL- Accelerated amortization of intangibles 2,000 - 2,000
DTL- Depreciation on fixed assets 1,000 - 1,000
- -
DTL- Lease accounting 2,000 - 2,000
Electrical equipment - 1 6,000 6,000 -
- -
Electrical equipment - 2 2,000 2,000 -
Electricity charges - Factory 650 650 -
- -
Electricity charges for office 200 200 -
Electricity Charges Payable 250 - 250
Electricity deposit 800 800 -
EMD 900 900 -
Employer's contribution to PF - Labour 1,000 1,000 -
Employer's contribution to PF - Staff - -
Equity share capital - class 1 2,500 39,000 - 41,500
- -
Equity share capital - class 2 - -
Equity share issue/debenture issue expenses 100 100 -
ESI Payable 400 - 400
- -
Excise duty 9,000 9,000 -
Excise Duty Payable 1,000 - 1,000
Export incentives and subsidy - -
Extraordinary item - loss on account of earthquake - -
Extraordinary item - gain - -
Factory wages - -
First Aid & Medical expenses - -
Foreign bills payable - -
Foreign currency translation reserve (B/S Item) 200 100 - 100
Foreign currency translation reserve (P&L Item) 100 - 100
- -
Foreign exchange fluctuation - -
Foreign Travel expenses 2,500 2,500 -
Forfeited shares - -
Freehold Building - 1 2,200 2,200 -
- -
Freehold Building - 2 - -
Freehold Land -1 - -
- -
Freehold Land -2 - -
Freight charges - -
Freight charges payable - -
Fringe benefit tax - -
Furniture & fitting - 1 - -
- -
Furniture & fitting - 2 - -
Gardening - -
General reserve (B/S item) 100 - 100
General reserve (P&L item) - -
General stationery - -
God's account - -
Goodwill - -
Gratuity settlement to staff and labour - -
Group Gratuity - -
Group Insurance Premium - -
Incentive to staff and labour - -
Increase in value of investment 1,500 - 1,500
Indira Vikas Patrika 5,000 5,000 -
- -
Inland bills payable - -
Insurance - Building - -
Insurance - Plant and Machinery - -
- -
Insurance - Stock 1,500 1,500 -
Insurance for cash 120 120 -
Insurance receipts-building - -
- -
Insurance receipts-plant and machinery - -
Inter corporate loans - company 1(loans and advances) 800 1,500 - 700
- -
Inter corporate loans - company 2 (loans and advances) 2,000 1,000 1,000 -
Inter corporate loans written off 1,000 800 200 -
Inter unit balances- Unit 1 100 100 -
- -
Inter unit balances- Unit 2 100 - 100
Interest accrued and due on secured term loans from financial inst. 300 - 300
Interest accrued and due on secured debentures 900 - 900
Interest accrued and due on secured term loans from banks - -
Interest accrued and due on overdrafts from banks - -
Interest accrued and due on cash credit from banks - -
Interest accrued and due on secured loans from subsidiaries - -
Interest accured and due on unsecured fixed deposit - -
Interest accrued and due on unsecured loans from subsidiaries - -
Interest due on short term loans and advances from banks - -
Interest due on short term loans and advances from others - -
Interest due on other loans and advances from banks - -
Interest due on other loans and advances from others - -
Interest accrued on investments (asset item) 200 200 -
Interest free sales tax loan 4,000 9,000 - 5,000
Interest from Fixed Deposit 1(income) 800 - 800
- -
Interest from Fixed Deposit 2(income) - -
Interest income from government security 1 - -
- -
Interest income from government security 2 - -
Interest income from other investment1 - -
- -
Interest income from other investment2 - -
Interest income on labour advance - -
- -
Interest income on staff advance - -
Interest on CC - Bank 1 - -
Interest on CC - Bank 2 - -
- -
Interest on CC- Bank 3 - -
Interest on debentures- class 1 900 900 -
- -
Interest on debentures- class 2 - -
Interest on Fixed deposit 1 - -
- -
Interest on Fixed deposit 2 - -
Interest on IT refund - -
Interest on late payment to creditors - -
Interest on O/D- Bank 1 - -
- -
Interest on O/D- Bank 2 - -
Interest on Term Loan - Bank 1 - -
- -
Interest on term loan - financial institution 1 500 500 -
- -
Interest on term loan - financial institution 2 - -
Interest on term loan - secured- subsidiary 1 - -
- -
Interest on term loan - secured- subsidiary 2 - -
Interest on term loan - unsecured-subsidiary 1 - -
- -
Interest on term loan - unsecured-subsidiary 2 - -
Interest payable on matured deposits/debentures 3,000 2,000 - 1,000
Interim dividend 5,000 5,000 -
Internal audit fee 800 800 -
Internet Charges - -
Investment allowance reserve (B/S Item) 2,000 1,000 - 1,000
Investment allowance reserve (P&L Item) 1,000 - 1,000
Investment in capital of partnership firms 10,000 1,000 11,000 -
Investment in immovable properties 500 500 -
- -
ISO Certification Fee 150 150 -
Job work income-process 1 4,500 - 4,500
- -
Job work income-process 2 250 - 250
Keyman Insurance premium 200 200 -
Kisan Vikas Patrika 1,000 1,000 -
Labour advance -Labour 1 5,000 2,000 1,000 6,000 -
- -
Labour advance -Labour 2 - -
Labour Trip hire charges 120 120 -
LC Charges 240 240 -
Lease rental from buildings 360 - 360
- -
Lease rental from plant and machinery 120 - 120
Leasehold Building - 1 5,000 5,000 -
- -
Leasehold Building - 2 - -
Leasehold Land - 1 - -
- -
Leasehold Land - 2 - -
Leave salary 500 500 -
Legal fees 1,000 1,000 -
- -
Letter head printing charges 100 100 -
Loading/unloading charges 150 150 -
Loans from director 1 - -
- -
Loans from director 2 - -
Long term Inv- quoted-Govt Securities- bond 1 120 120 -
Long term Inv - quoted-Govt Securities- bond 2 800 800 -
Long term Inv- non trade-fully paid -quoted-bonds - -
Long term Inv- non trade-fully paid -quoted-equity - -
Long term Inv- non trade-fully paid -unquoted-bonds - -
Long term Inv- non trade-fully paid -unquoted-equity - -
Long term Inv- non trade-partly paid -quoted-bonds - -
Long term Inv- non trade-partly paid -quoted-equity - -
Long term Inv- non trade-partly paid -unquoted-bonds - -
Long term Inv- non trade-partly paid -unquoted-equity - -
Long term Inv- trade-fully paid -quoted-bonds - -
Long term Inv- trade-fully paid -quoted-equity - -
Long term Inv- trade-fully paid -unquoted-bonds - -
Long term Inv- trade-fully paid -unquoted-equity - -
Long term Inv- trade-partly paid -quoted-bonds - -
Long term Inv- trade-partly paid -quoted-equity - -
Long term Inv- trade-partly paid -unquoted-bonds - -
Long term Inv- trade-partly paid -unquoted-equity - -
Loose tools 500 500 -
LPG deposit - -
- -
Mobile Phone Expenses - -
National savings certificate - -
- -
Octroi - -
Office equipment - 1 - -
- -
Office equipment - 2 - -
Office Maintenance - -
Opening Stock - Raw material (P&L Item) 2,000 2,000 -
Opening Stock - Stores and spares (P&L Item) 6,000 6,000 -
Opening Stock- Byproducts (P&L Item) 7,500 7,500 -
Opening Stock- Finished goods (P&L Item) 1,500 1,500 -
Opening Stock- Waste and scrap (P&L Item) 2,000 2,000 -
Opening Stock- WIP (P&L Item) 600 600 -
Other bank Charges - -
Other leased assets - -
Other loans from - party 1 100 10,000 - 9,900
- -
Other loans from - party 2 - -
Other manufacturing expenses-1 - -
- -
Other manufacturing expenses-2 - -
Other unsecured loans - bank 1 9,600 120 - 9,720
- -
Other unsecured loans - bank 2 6,600 2,500 4,100 -
Overdraft from Bank 1 5,000 6,100 - 11,100
- -
Overdraft from Bank 2 6,500 - 6,500
Overtime Premium 500 500 -
Packing expense 1 - -
- -
Packing expense 2 - -
Patents, Trademarks and Designs 2,000 2,000 - -
Petrol and Diesel expenses 240 240 -
Petrol Deposit 9,000 500 240 9,260 -
Plant & Machinery - 1 - -
- -
Plant & Machinery - 2 - -
Pollution Renewal Fee - -
Pooja expenses - -
Preference dividend (B/S item) - -
Preference dividend (P&L item) - -
Preference share capital - class 1 17,500 5,000 - 22,500
- -
Preference share capital - class 2 - -
Preliminary expenses (B/S item) 6,000 3,000 3,000 -
Preliminary expenses (P&L item) 3,000 3,000 -
Prior Period items - -
Processing expenses - process 1 - -
- -
Processing expenses - process 2 - -
- -
Profit and loss account 19,600 - 19,600
Profit on sale of Business 1 100 - 100
Profit on sale of Business 2 600 - 600
- -
Profit on sale of Business 3 - -
Profit/(Loss) on sale of Electrical Machinery - -
Profit/(Loss) on sale of Office Equipments 11,000 - 11,000
- -
Profit/(Loss) on sale of Other assets 5,000 - 5,000
Profit/(Loss) on sale of Plant and Machinery - -
Profit/(Loss) on sale of quoted investments -current 2,000 - 2,000
Profit/(Loss) on sale of quoted investments- long term 1,000 1,000 -
- -
Profit/(Loss) on sale of unquoted investmens- long term - -
- -
Profit/(Loss) on sale of unquoted investmens-current - -
Proposed dividend (B/S item) 9,000 9,000 - -
Proposed dividend (P&L item) - -
Provident fund Adminstration charges - -
Provision for bad and doubtful debts (B/S item) 500 - 500
Provision for bad and doubtful debts (P&L item) - -
Provision for contingencies (B/S item) - -
Provision for contingencies (P&L item) - -
Provision for Depreciation-Building - -
Provision for Depreciation-Computer 250 - 250
Provision for Depreciation - Development of property 100 - 100
Provision for Depreciation-Electrical equipments 1,000 50 - 1,050
Provision for Depreciation-Freehold building - -
Provision for Depreciation-Furniture 400 225 250 - 425
Provision for Depreciation-Machinery - -
Provision for Depreciation-Office Equipments 750 50 250 - 950
Provision for Depreciation-Railway Sidings 100 200 - 100
- -
Provision for Depreciation-Vehicles - -
Provision for FBT AY xxxx - -
- -
Provision for FBT AY xxxx - -
Provision for Income Tax AY xxxx 8,000 - 8,000
- -
Provision for Income Tax AY xxxx 250 - 250
Provision for Provident Fund Contribution 800 - 800
Provision for salary 200 - 200
Provision for wages - -
Provisions/liabilities no longer required written back - -
Purchases - Raw Materials - -
Purchases - Stores - -
Railway siding -1 - -
- -
Railway siding -2 2,000 2,000 -
Rent expense - factory 1 - -
- -
Rent expense factory 2 - -
- -
Rent for office premises - -
Rental deposit - -
Repairs and maintenance- electrical equipments 960 960 -
Repairs and maintenance- machinery - -
- -
Repairs and maintenance- other machinery - -
Repairs and maintenance-building 1 - -
- -
Repairs and maintenance-building 2 40 40 -
Repairs to Office equipments 500 500 -
- -
Repairs to vehicles - -
Research and Development expenditure 2,500 2,500 -
Revaluation reserve (B/S item) 2,800 2,800 -
Revaluation reserve (P&L item) - -
ROC filing Fee 360 360 -
- -
Rounding off - -
- -
RST 1% payable a/c 800 750 - 50
Salaries to staff - -
Sales - DTA exports - -
- -
Sales - Real exports - -
Sales commission - -
Sales Commission Payable 500 - 500
Sales- Exempted - -
Sales promotion and publicity - -
Sales tax deposit - -
Sales- TNGST 10% 50,000 - 50,000
Sales TNGST 3% 20,000 - 20,000
- -
Sales-Cst 4% 5,000 - 5,000
Secured Term loan Bank 1 - -
- -
Secured Term loan Bank 2 600 - 600
Secured Term loan from financial institution 1 1,000 2,800 - 1,800
- -
Secured Term loan from financial institution 2 200 - 200
Secured Term loan from subsidiary 1 5,000 200 1,500 - 6,300
- -
Secured Term loan from subsidiary 2 300 8,000 - 7,700
Security Charges Payable - -
Security Deposit with suppliers 500 - 500
Security deposit from customer 1 1,600 - 1,600
- -
Security deposit from customer 2 900 - 900
Self Assessment tax paid - -
Seminar and training charges - -
Share Application money 1,000 - 1,000
Share premium account (B/S Item) 5,000 100 - 4,900
Sitting Fee 2,000 2,000 -
Snacks and refreshment - -
Software - -
Sports/ cultural day expenses - -
Staff salary advance - staff 1 5,000 200 100 5,100 -
- -
Staff salary advance - staff 2 - -
Stamping Fee - -
Statutory audit fee - -
Stipend to Labour - -
Stock in transit insurance - -
Subscription and periodicals - -
Sundry Creditor - Party 1 1,080 - 1,080
- -
Sundry Creditor - Party 2 200 500 - 300
Sundry Creditor - Subsidiary 1 1,250 8,200 - 9,450
- -
Sundry Creditor - Subsidiary 2 300 2,200 - 1,900
Sundry Creditors - SSI unit 1 1,000 5,500 2,150 2,350 -
- -
Sundry Creditors - SSI unit 2 1,050 - 1,050
Sundry debtor- company 1 under same management 2,000 250 6,000 - 3,750
- -
Sundry debtor- company 2 under same management 500 8,000 6,000 2,500 -
Sundry debtors- director 1 50,000 8,000 42,000 -
- -
Sundry debtors- director 2 25,000 750 24,250 -
Sundry debtors- party 1 500 960 - 460
Sundry debtors- party 2 5,000 2,750 1,500 6,250 -
Sundry debtors- party 3 2,500 3,000 - 500
- -
Sundry debtors- party 4 - -
- -
Superannuation fund - -
- -
Tax audit fee 500 500 -
Tax deducted at source AY xxxx (Asset Item) 8,500 7,000 15,500 -
- -
Tax deducted at source AY xxxx (Asset Item) - -
Taxes of earlier years - -
TDS Payable - Commission - -
TDS Payable - Contract - -
TDS Payable - Interest 1,250 - 1,250
TDS Payable - Professional Charges - -
TDS Payable - Rent 2,250 6,000 3,750 -
- -
TDS Payable - Salary 1,250 250 - 1,500
TDS return filing Fee 360 - 360
Technical knowhow - -
Telehone charges - office - -
Telephone deposit 1,000 1,000 -
- -
Tender deposit - -
Unclaimed dividend - year 1 800 800 - -
Unclaimed dividend - year 2 1,000 - 1,000
- -
Uniform expenses for labour/staff - -
Unpaid Application Money received by company for allotment
of securities and due for refund 9,000 - 9,000
Unpaid matured deposits 2,000 - 2,000
Unpaid matured debentures 5,000 - 5,000
Unsecured fixed deposit - party 1 2,500 - 2,500
- -
Unsecured fixed deposit - party 2 400 - 400
Unsecured loans/advances from subsidiary 1 5,000 5,000 -
- -
Unsecured loans/advances from subsidiary 2 7,000 - 7,000
Unsecured short term loans and advances from bank 1 10,000 2,000 - 12,000
- -
Unsecured short term loans and advances from bank 2 1,400 - 1,400
Unsecured short term loans and advances from others 1 4,800 7,200 - 12,000
- -
Unsecured short term loans and advances from others -2 - -
- -
VAT 7,000 1,500 5,500 -
VAT Payable 5,000 2,000 - 3,000
Vehicle - 1 9,800 800 9,000 -
- -
Vehicle - 2 - -
Water expenses 200 200 -
x% Secured Redeemable debentures- class 1 350 - 350
- -
x% Secured Redeemable debentures- class 2 1,000 - 1,000
Total 223,800 223,800 527,980 527,980 529,955 529,955

Difference - - -
Gulf Builders & Contractors L.L.C
GROUPINGS TO PROFIT AND LOSS ACCOU
For the year ended

Dr
(Rs. in …….)
Domestic sales
Sales- Exempted -
Sales- TNGST 10% -
Sales TNGST 3% -
- -
Sales-Cst 4% -
-
Export sales
Sales - DTA exports -
- -
Sales - Real exports -
-
Commission
Commission - Job 1 -
- -
Commission - Job 2 -
-
Profit/(Loss) on sale of Fixed Asset
Profit/(Loss) on sale of Plant and Machinery -
Profit/(Loss) on sale of Office Equipments -
Profit/(Loss) on sale of Electrical Machinery -
- -
Profit/(Loss) on sale of Other assets -
-
Profit on sale of business
Profit on sale of Business 1 -
- -
-
Profit/(Loss) on sale of long term investments
Profit/(Loss) on sale of quoted investments 1,000
- -
Profit/(Loss) on sale of unquoted investmens -
1,000
Profit/(Loss) on sale of current investments
Profit/(Loss) on sale of quoted investments -
- -
Profit/(Loss) on sale of unquoted investmens -
-
Dividend income from subsidiary
Dividend from subsidiary 1 -
- -
Dividend from subsidiary 2 -
-
Dividend income from trade investments
Dividend from trade investment 1 -
- -
Dividend from trade investment 2 -
-
Dividend income from other investments
Dividend income from other investment 1 -
- -
Dividend income from other investment 2 -
-
Interest income on Government securities
Interest income from security 1 -
- -
Interest income from security 2 -
-
Interest income on other investments
Interest income from other investment1 -
- -
Interest income from other investment2 -
-
Interest income on FD with banks
Interest from FD 1 -
- -
Interest from FD 2 -
-
Interest income on loans and advances
Interest income on staff advance -
- -
Interest income on labour advance -
-
Lease rentals
Lease rental from buildings -
- -
Lease rental from plant and machinery -
-
Job work income
Job work income - process 1 -
- -
Job work income - process 2 -
-
Insurance claims
Insurance receipts-building -
- -
Insurance receipts-plant and machinery -
-
Foreign exchange gain/(loss)
- -
Foreign exchange fluctuation -
-
Miscellaneous income
Interest on IT refund -
Canteen income -
- -
Rounding off -
-
Stores and spares consumed
Opening stock of stores and spares 6,000
Add: Purchases -
Less: Closing stock -
6,000
Power and Fuel
Electricity charges - Factory 650
- -
Diesel Expenses - Generator -
650
Factory Rent
Rent - factory 1 -
- -
Rent - factory 2 -
-
Repairs and maintenance-building
Repairs and maintenance-building 1 -
- -
Repairs and maintenance-building 2 40
40
Repairs and maintenance-plant and machinery
Repairs and maintenance- electrical equipments 960
Repairs and maintenance- machinery -
- -
Repairs and maintenance- other machinery -
960
Packing materials
Packing expense 1 -
- -
Packing expense 2 -
-
Processing charges
Processing charges - process 1 -
- -
Processing charges - process 2 -
-
Carriage Inwards
Freight charges -
Loading/unloading charges 150
- -
Octroi -
150
Excise Duty
- -
Excise duty 9,000
9,000
Other expenses
Other expenses -1 -
- -
Other expenses - 2 -
-
Salaries, Wages and bonus
Salaries to staff -
Factory wages -
Leave salary 500
Overtime Premium 500
Bonus to workers 500
- -
Bonus to staff 3,000
4,500
Contribution to PF and other Funds
Employer's contribution to PF - Staff -
Employer's contribution to PF - Labour 1,000
Provident fund Adminstration charges -
Contibution to ESI - employer 8,500
Group Gratuity -
- -
Superannuation fund -
9,500
Staff Welfare
Incentive to staff and labour -
Labour Trip hire charges 120
Canteen Expenses 160
Seminar and training charges -
Stipend to Labour -
Sports/ cultural day expenses -
Gratuity settlement to staff and labour -
Snacks and refreshment -
First Aid & Medical expenses -
- -
Uniform -
280
Rates and Taxes
ROC filing Fee 360
TDS return filing Fee -
Pollution Renewal Fee -
Stamping Fee -
- -
ISO Certification Fee 150
510
Rent- office
- -
Rent for office premises -
-
Travelling and Conveyance
Conveyance charges - local 2,150
Foreign Travel expenses 2,500
Petrol and Diesel expenses 240
- -
Director's travel expenses 3,000
7,890
Insurance
Insurance - Plant and Machinery -
Insurance - Building -
Insurance - Stock 1,500
Insurance for cash 120
Keyman Insurance 200
Stock in transit insurance -
- -
Group Insurance Premium -
1,820
Electricity - office
- -
Electricity charges for office 200
200
Managerial Remuneration
Directors' Salary 9,000
Sitting Fee 2,000
- -
Directors' Commission 6,000
17,000
Postage, Telegram and Telephone
Telehone charges - office -
Courier Charges 250
Internet Charges -
- -
Mobile Phone Expenses -
250
Printing and stationery
General stationery -
Computer stationery 500
- -
Letter head printing charges 100
600
Professional fees
Legal fees 1,000
Architect fees 680
- -
Designers fees 2,000
3,680
Audit fee
Internal audit fee 800
Statutory audit fee -
- -
Tax audit fee 500
1,300
Other Expenses
Office Maintenance -
Gardening -
Water expenses 200
Donation -
Subscription and periodicals -
Repairs to Office equipments 500
Pooja expenses -
- -
Repairs to vehicles -
700
Interest on Term Loan
Interest on Term Loan - Bank 1 -
- -
Interest on Term Loan - financial institution 1 500
- -
Interest on Term Loan - financial institution 2 -
Interest on Term Loan - secured-subsidiary 1 -
- -
Interest on Term Loan - secured-subsidiary 2 -
Interest on Term Loan - unsecured-subsidiary 1 -
- -
Interest on Term Loan - unsecured-subsidiary 2 -
500
Interest on Working Capital
Interest on O/D- Bank 1 -
- -
Interest on O/D- Bank 2 -
Interest on CC - Bank 1 -
- -
Interest on Fixed deposit 1 -
- -
Interest on Fixed deposit 2 -
-
Other Finance Charges
DD / TT Charges 50
LC Charges 240
Other bank Charges -
Interest on late payment to creditors -
- -
Banking Transaction Tax -
290
Interest on debentures
Interest on debentures- class 1 900
- -
Interest on debentures- class 2 -
900
Appropriations-Corporate dividend tax
Corporate dividend tax- interim dividend 200
- -
Corporate dividend tax- final dividend 1,000
1,200
Depreciation/Amortisation
Depreciation-Computer 250
Depreciation- Development of property 100
Depreciation-Electrical equipments 50
Depreciation-Freehold building -
Depreciation-Furniture 25
Depreciation-Machinery -
Depreciation-Office Equipments 200
Depreciation-Railway Sidings 100
Depreciation-Vehicles -
Amortisation on Goodwill 200
Amortisation on Other leased assets 150
Amortisation on Patents and Trademarks -
Amortisation on Software -
Amortisation on Technical knowhow -
Amortisation on Leasehold building -
- -
Amortisation on Leasehold land 50
1,125
rs & Contractors L.L.C.
PROFIT AND LOSS ACCOUNT
30-12-1899 For the year ended 30-12-1899

Cr Dr Cr
(Rs. in ……) (Rs. in …….) (Rs. in ……)
-
50,000
20,000
-
5,000
75,000 - -
-
-
-
- - -
5,200
-
1,000
6,200 - -
-
11,000
-
-
5,000
16,000 - -
100
600
-
-
700 - -
-
-
-
- - -
2,000
-
-
2,000 - -
200
-
300
500 - -
-
-
-
- - -
-
-
-
- - -
-
-
-
- - -
-
-
-
- - -
800
-
-
800 - -
-
-
-
- - -
360
-
120
480 - -
4,500
-
250
4,750 - -
-
-
-
- - -
-
-
- - -
-
300
-
-
300 - -
-
-
(4,000) (6,000) -
(4,000) (6,000) -
-
-
-
- - -
-
-
-
- - -
-
-
-
- - -
-
-
-
-
- - -
-
-
-
- - -
-
-
-
- - -
-
-
-
-
- - -
-
-
- - -
-
-
-
- - -
-
-
-
-
-
-
-
- - -
-
-
-
-
-
-
-
- - -
-
-
-
-
-
-
-
-
-
-
-
- - -
-
360
-
-
-
-
360 - -
-
-
- - -
-
-
-
-
-
- - -
-
-
-
-
-
-
-
-
- - -
-
-
- - -
-
-
-
-
- - -
-
-
-
-
-
- - -
-
-
-
-
- - -
-
-
-
-
- - -
-
-
-
-
- - -
-
-
-
-
-
-
-
-
-
- - -
-
-
-
-
-
-
-
-
-
-
-
-
-
- - -
-
-
-
-
-
-
-
-
-
-
- - -
-
-
-
-
-
1,225
1,225 - -
-
-
-
- - -
-
-
-
- - -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
- - -
- 8,250 - 250
Provision for FBT AY xxxx - - - -
- - - - -
Provision for FBT AY xxxx - - - -
- - - -
Provison for employee benefits
Bonus payable - 8,000 - 6,000
Salary - 200 - -
Wages - - - -
ESI Payable - 400 - -
- 8,600 - 6,000
SCHEDULE 8 - INVENTORIES
Stores and spare parts 4,000 6,000

Loose tools 500 -
Raw material 5,000 2,000
Finished goods 6,500 1,500
By products 300 7,500
Work in Process 100 600
Waste and scrap 200 2,000
16,600 19,600
SCHEDULE 9 - SUNDRY DEBTORS
Secured - considered good

a) Exceeding six months
b) Others - -
Unsecured
a) Exceeding six months
- Considered good
- Considered doubtful
Less: Provision for doubtful debts (500) (500) (500) (500)
b) Others - Considered good 5,290 8,000
c) Debts due from Directors or other officers of the company 66,250 -
(Maximum amount due at any time during the year Rs. xxxx)
d) Debts due from other companies under the same management (1,250) 2,500
69,790 10,000
SCHEDULE 10 - CASH AND BANK BALANCES
Cash on hand (including remittance in transit) (300) -

Balances with Scheduled banks
- in Current Account (5,700) -
- in Deposit Account (1,900) 5,000
- in Margin Money Account (600) -
- in Call Account 55,925 47,725 - 5,000
Balances with other banks
Bank XXX
- in Current Account 48,650 9,000
- in Deposit Account (1,550) (3,000)
- in Call Account 500 -
(Maximum amount outstanding at any time during 47,600 6,000
the year Rs.xxxx)
Bank YYY
- in Current Account 11,550 -
- in Deposit Account 2,200 -
- in Call Account 3,300 17,050 800 800
(Maximum amount outstanding at any time during
the year Rs.xxxx)
112,075 11,800
SCHEDULE 11 - OTHER CURRENT ASSETS
Dividend Receivable - -
Interest accrued on Investments 200 -
200 -
SCHEDULE 12 - LOANS AND ADVANCES
(Unsecured,considered good)
Advances and loans to Subsidiaries 3,000 2,600
Advances and loans to Partnership Firms in which the company

or any of its Subsidiaries is a partner 5,200 3,000
Bills of Exchange 2,300 1,000
Advances recoverable in cash or in kind or for the value to be 2,700 9,000

received
Balances with Customs,Port Trust,etc.(where payable on demand) - 2,500
Inter Corporate Loan 300 -

Advance Income tax 2,250 1,500
Advance Fringe benefit tax 7,000 5,000
Tax deducted at source 15,500 8,500
Deposits 11,460 10,000
49,710 43,100
SCHEDULE 13 - CURRENT LIABILITIES
Acceptances - -
Sundry Creditors
- Due to Small Scale Industries (1,300) 1,000
- Other than Small Scale Industries 3,230 1,930 5,250 6,250
Payable to Subsidiary Companies 11,350 1,250
Advance payments and unexpired discounts for the portion for 4,180 (500)
which value has still to be given
Investor Education and Protection Fund
- Unclaimed dividend Year 1 - 800
- Unclaimed dividend Year 2 1,000 -
- Unpaid Application Money received by company for allotment 9,000 9,000
of securities and due for refund
- Unpaid matured deposits 2,000 2,000
- Unpaid matured debentures 5,000 5,000
- Interest accrured on the above 1,000 18,000 3,000 19,800
Security Deposits 2,500 2,500
Commission due to Directors (Net) 11,000 -
Sales tax payable (900) 800
Interest accrued but not due on loan
48,060 30,100
SCHEDULE 14 - PROVISIONS
Provision for tax

- Income tax 8,250 250
- Fringe benefit tax - 8,250 - 250
Proposed dividend - 9,000
Preference dividend payable - -
Corporate dividend tax 600 -
Provision for contingencies - -
Provision for Provident Fund Scheme 800 -
Provision for employee benefits 8,600 6,000
18,250 15,250
SCHEDULE 6 - FIXED ASSETS
Gross Block Depreciation / Amortisation Net Block

Description As at Additions Deletions As at Up to For the Deletions Up to As at As at
30-12-1899 30-12-1899 30-12-1899 Year 30-12-1899 30-12-1899 30-12-1899
A.Tangible Assets
Freehold land - - - - - - -
Leasehold Land - - - - 100 50 - 150 (150) (100)
Freehold Buildings 2,200 - - 2,200 - - - - 2,200 2,200
Leasehold Buildings - 5,000 - 5,000 - - - - 5,000 -
Railway Sidings 2,000 - - 2,000 - 200 100 100 1,900 2,000
Plant & Machinery - - - - - - - - - -
Furniture and Fittings - - - - 400 250 225 425 (425) (400)
Development of Property 8,000 6,000 - 14,000 - 100 - 100 13,900 8,000
Electrical Equipments - 8,000 - 8,000 1,000 50 - 1,050 6,950 (1,000)
Office Equipments - - - - 750 250 50 950 (950) (750)
Vehicles 9,800 - 800 9,000 - - - - 9,000 9,800
Computer 50,000 14,000 52,000 12,000 - 250 - 250 11,750 50,000
Other Leased Assets - - - - - 150 - 150 (150) -
B. Intangible Assets
Goodwill - - - - 500 200 - 700 (700) (500)
Software - - - - - - - - - -
Technical Knowhow - - - - - - - - - -
Patents,Trademarks and - 2,000 2,000 - - - - - - -

Designs
Total 72,000 35,000 54,800 52,200 2,750 1,500 375 3,875 48,325 69,250
Previous year
Capital Work in Progress
- Tangible Assets - -
- Intangible Assets 1,000 5,000
1. Leasehold Land includes Rs.xxxx(Previous Year Rs.xxxx) in respect of which lease deeds are pending execution.
2. Gross Block includes Rs. xxxx added on revaluation of asset name as at xx.xx.xxxx.
3.Building /land includes cost of shares in co-operative societies Rs.xxxx.
4.Exchange rate differences arising during the year on foreign currency loans borrowed on acquisition/construction of fixed assets have been adjusted - increase
of Rs.xxxx - (Previous Year Rs.xxxx).
5.Class of asset include asset given on operating lease amounting to Rs.xxxx.
6.Capital work-in-progress includes advance against capital expenditure, asset name under installation/transit,construction material purchases,and other assets under
erection and pre-operative expenses.
7.Class of asset include Rs.xxxx being company's share of cost of asset name jointly owned with other corporates.
8. Other leased assets include:
Plant & Machinery - Rs. xxxx
Computers - Rs. xxxx
Any other class of asset - Rs. xxxx
Income
AS-9 Sales 17 75,000 -
Other income 18 33,230 -
Increase/(Decrease) in Stock 19 (4,500) 11,600
103,730 11,600
Expenditure
Manufacturing Expenses 20 9,800 (8,000)
Personnel Cost 21 14,280 -
Administrative and Selling Expenses 22 52,370 -
AS-16 Interest and Finance Charges 23 465 -
76,915 (8,000)
Profit before Depreciation 26,815 19,600
AS-6 Depreciation 1,125
Less: Transferred from Revaluation Reserve - (1,125) -
(Refer note no.xxx)
AS-5 Extraordinary Items
Loss due to earthquake -
Extraordinary gain -
AS-5 Prior period items -
Profit before tax 25,690 19,600
Profit from continuing operations before tax 13,690 19,600
AS-22 Less: Tax expense
- Current tax (8,600)
- Deferred tax 3,900
- Fringe Benefit tax (200)
Profit from continuing operations after tax (a) 8,790 19,600
AS-24 Profit from discontinuing operations before tax 12,000

Tax expense
- Current tax 600
- Deferred tax 100
- Fringe Benefit tax 200
Profit from discontinuing operations after tax (b) 12,900 -
Profit after tax (a+b) 21,690 19,600
Add :Balance brought forward from previous year 19,600
Add/ (Less):Debenture Redemption Reserve 2,000
written back/ created
Capital Redemption Reserve 1,000
Investment Allowance Reserve 1,000
Capital Reserve written back 1,000 -
Foreign Currency Trans. Reserve 100 24,700
AS-14 Add/(Less): Taxation for earlier years -
Balance in Profit and Loss Account 800 -
of Amalgamating company 800 -
Profit available for Appropriation 47,190 19,600
Appropriations
Transfer to General Reserve -
G.N Preference dividend -
Interim dividend 5,000
Proposed dividend -
Corporate dividend tax 1,200 -
Surplus/(Deficit) carried to Balance Sheet 40,990 19,600
AS-20 Basic EPS of Rs. xx each

Diluted EPS of Rs. xx each
(Refer Note 29, Schedule 16)
NOTES TO ACCOUNTS 16
I. Sources of Funds
(1) Shareholders' funds:

(a) Capital 1 65,000 19,500
(b) Reserves and surplus 2 52,290 117,290 38,800 58,300
(2) Loan funds:

(a) Secured loans 3 106,000 65,500
(b) Unsecured loans 4 50,820 156,820 21,900 87,400
AS-22 Deferred Tax Liability 5 - -
TOTAL 274,110 145,700

II. Application of Funds
AS-10 (1) Fixed assets:

AS-26 (a) Gross block 6 52,200 72,000
AS-6 (b) Less : Depreciation (3,875) (2,750)
(c) Net block 48,325 69,250
(d) Capital work-in-progress 1,000 49,325 5,000 74,250
AS-13 (2) Investments 7 35,720 32,300
(3) Current assets , loans and

advances:
AS-2 (a) Inventories 8 16,600 19,600
(b) Sundry debtors 9 69,790 10,000
(c) Cash and bank balances 10 112,075 11,800
(d) Other current assets 11 200 -
(e) Loans and advances 12 49,710 43,100
248,375 84,500
Less:
Current liabilities and provisions:
(a) Liabilities 13 48,060 30,100
(b) Provisions 14 18,250 15,250
66,310 45,350
Net current assets 182,065 39,150
AS-22 Deferred Tax Asset 4,000
GN (4) (a) Miscellaneous expenditure 15 3,000 -

to the extent not written off
or adjusted
(b) Profit and loss account - -
TOTAL 274,110 145,700

CASH FLOW STATEMENT
Current Year
(Rs. in ……..)
A. Cash Flow from Operating Activities
a. Net Profit before taxation and extraordinary items

b. Adjustments for:
Depreciation 1,125
Foreign Exchange gain (unrealised) -
Foreign Exchange loss (unrealised) -
Interest income (800)
Dividend income (500)
Preliminary expenses written off 3,000
Provision for employee benefits 2,600
Provision for Provident Fund Contribution 800
Liabilities/Provisions written back -
Provision for contingencies -
Equity share/Debenture issue expenses 100
Advances to subsidiaries/ firms/corporates written
off 1,600
Diminution in investments 200
Increase in value of investments (1,500)
(Profit)/Loss on sale of fixed assets (16,000)
(Profit)/Loss on sale of investments(net) (1,000)
(Profit) on sale of business 700
Interest expense(net) 465
c. Operating Profit before working capital changes
i. (Increase)/Decrease in sundry debtors (59,790)
ii.(Increase)/Decrease in inventories 3,000
iii.Increase/(Decrease) in current liabilities 17,960
iv.(Increase)/Decrease in loans and advances 6,040
v.Net current assets transferred on sale/ 100
amalgamation of business
d. Cash generated from operations
e. Income Taxes paid net of refund
f. Cash flow before extraordinary items
g. Extraordinary items:
i.Loss due to earthquake -
AS- 3
ii.Extraordinary gain -
h. Net Cash from operating activities
AS- 3 B. Cash Flow from Investing Activities
a. Purchase of Fixed assets (29,000)

b. Proceeds from sale of asset 68,000
c. Capital Work in Progress (2,000)
d. Proceeds from sale of business
e. Advances to subsidiaries/ firms (4,000)
f. Inter corporate loans and advances (500)
g. Purchase of investments (1,120)
h. Sale of investments -
I. Interest received 600
j. Dividend received 500
k. Net Cash from investing activities
C. Cash Flow from Financing Activities
a. Issue of shares/Capital introduced 45,500

b. Proceeds from long term borrowings 3,600
c. Repayment of long term borrowings (1,000)
d. Redemption of debentures -
e. Issue of debentures 1,350
f. Fixed deposits accepted/(repaid) 400
g. Change in working capital finance 36,950
h. Net increase/(decrease) in other borrowings 26,920
I. Dividends paid (14,000)
j. Equity share/Debenture issue expenses (100)
k. Preliminary expenses incurred during the year (6,000)
l. Corporate dividend tax (600)
m. Interest paid 735
n. Net Cash from financing activities
Net increase in cash and cash equivalents

(A+B+C)
Cash and cash equivalents at the beginning
of the period
Cash and cash equivalents at the end of the
Period
The above Cash Flow Statement has been prepared under the indirect method set out in AS-3 issued by
have been regrouped and recast wherever necessary to conform to current year classification.
The Cash Flow of continuing and discontinuing operations are:
Continuing operations
AS- 24
Current year
A. Net Cash Flow from Operating Activities

AS- 24
B. Net Cash from Investing activities
C. Net Cash Flow from Financing activities
This is the Cash Flow Statement referred to in our report of even date.
tractors L.L.C.
ATEMENT
Current Year Previous Year

(Rs. in ……..) (Rs.in ………)
25,690 19,600
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(9,210) - -
16,480 19,600
(32,690) -
(16,210) 19,600
(9,750)
(25,960) 19,600
-
- - -
(25,960) 19,600
32,480 -
93,755 -
100,275 19,600
11,800
112,075 19,600
set out in AS-3 issued by ICAI. Previous year figures

ar classification.
Continuing operations Discontinuing operations Total

Previous year Current year Previous year Current
Previous
year year
IT paid
Schedule 16 : NOTES TO ACCOUNTS
Significant Accounting Policies
1. Basis of preparation of Financial Statements

a) The financial statements have been prepared under the historical cost convention in accordance with
Generally Accepted Accounting Principles (GAAP), Accounting Standards issued by the Institute of
Chartered Accountants of India (ICAI), and the relevant provisions of Companies Act, 1956.
b) All income and expenditure having material bearing are recognised on accrual basis except where
otherwise stated.
AS - 9 2. Revenue Recognition
a) Revenue from sale of goods is recognised when the risks and rewards of ownership are transferred to the
buyer.
b) Sales are net of sales return and sales tax but include applicable excise duty and other elements as are
allowed to be recovered as part of the price.
c) Interest income is recognised on a time proportion basis, taking into account the amount outstanding and
the rate applicable.
d) Dividend income is recognised when the company’s right to receive the payment is established.
e) Insurance claims for loss of profit are accounted for in the year of acceptance. Other insurance claims are
accounted for based on certainty of realisation.
f) Export benefits under DEPB License are accounted on accrual basis.
AS - 2 3. Inventories
a) Raw materials are valued at cost on First In First Out (FIFO)/Weighted Average basis. Cost includes all
taxes and duties, but excludes taxes and duties that are subsequently recoverable from the taxing
authorities. Imported products in transit are valued at CIF cost. However when the cost of finished products
exceeds its net realisable value, the raw materials are written down to net realisable value. The
replacement cost is taken as the net realisable value.
b) Stock-in-process is valued at raw material cost plus cost of conversion, or net realizable value, whichever is
lower.
c) Finished products are valued at cost (on FIFO basis) or net realizable value, whichever is lower.
d) Scrap is valued at net realizable value.
e) Empty packages are valued at cost.
f) Stores and spares are valued at cost on First In First Out (FIFO)/Weighted Average basis. Specific provision
is made in respect of identified obsolete stores & spares for likely diminution in value. Further, an adhoc
provision at the rate of x% is also made on the balance stores and spares towards likely diminution in
value. Stores and spares in transit are valued at cost.
g) Surplus items, when transferred from completed projects are valued at cost/realizable value, pending
periodic assessment/ascertainment of condition.
h) Excise/Customs duty is provided on stocks stored in Bonded Warehouses (excluding goods exempted from
duty/exports or where liability to pay duty is transferred to consignee).
AS - 5 4. Use of accounting Estimates

a) The preparation of the financial statements in conformity with the Generally Accepted Accounting Principles
requires the company’s management to make estimates and assumptions that affect the reported balances
of assets and liabilities and disclosures relating to contingent assets and liabilities as at the date of the
financial statements and reported amounts of income and expenses during the period.
b) Examples of such estimates include provisions for bad and doubtful debts, future obligations under
employee retirement benefit plans, income taxes, post sales customer support and useful life of fixed
assets and intangible assets.
Actual results could differ from those estimates.
AS - 6 5. Depreciation
a) Depreciation on fixed assets (other than leased assets) is provided on straight line method on the following
basis:
i) Assets acquired up to (Month) (year) on the basis of specified period under section 205(2) of the
Companies Act, 1956.
ii) In respect of assets acquired after (Month) (year), (class of assets) are depreciated based on estimated
useful life of the assets determined by technical evaluation at the following rates:
• (Class of Asset): yy%
• (Class of asset): xx%
b) (Class of asset) are depreciated at the rates specified in the Schedule XIV to the Companies Act, 1956.
c) The depreciation on incremental value arising from revaluation of fixed assets is charged to revaluation
reserve account.
d) Depreciation on leased assets is charged to Profit and Loss Account on straight line method over the
primary lease period.
e) Assets costing individually Rs.5000/- or less are fully depreciated in the year of addition.
basis:
i) Assets acquired up to (Month) (year) on the basis of specified period under section 205(2) of the
Companies Act, 1956.
ii) In respect of assets acquired after (Month) (year), (class of assets) are depreciated based on estimated
useful life of the assets determined by technical evaluation at the following rates:
• (Class of Asset): yy%
• (Class of asset): xx%
b) (Class of asset) are depreciated at the rates specified in the Schedule XIV to the Companies Act, 1956.
c) The depreciation on incremental value arising from revaluation of fixed assets is charged to revaluation
reserve account.
d) Depreciation on leased assets is charged to Profit and Loss Account on straight line method over the
primary lease period.
e) Assets costing individually Rs.5000/- or less are fully depreciated in the year of addition.
6. Expenditure incurred during Construction period (in case of contractee)

a) In case of supply-cum-erection contracts, the value of supplies received at site and accepted is treated as
capital work in progress.
b) Revenue expenses exclusively attributable to projects incurred during construction period are capitalised.
c) Financing cost incurred during the construction period on loans specifically borrowed and utilized for
products is capitalised on quarterly/monthly basis.
d) Financing cost, if any, on general borrowings used for projects is capitalised at weighted average cost. The
amount of such borrowings is determined on quarterly/monthly basis after setting off the amount of
internal accruals.
e) Claims for price variation/exchange rate variation in case of contracts are accounted for on acceptance.
AS- 7 7. Long term Contracts (in case of contractor)

a) The company accounts for income on the percentage to completion basis, which necessarily involve
technical estimates of the percentage of completion, and costs to completion of each contract/ activity, on
the basis of which profits/losses are accounted.
b) Such estimates, made by the company and certified to the auditors, have been relied upon by them, as
these are of a technical nature.
c) Expenditure incurred during the progress of contracts and the estimated profits up to the stage of
completion are carried forward as work- in- progress. Advances and progress payments, received and
receivable from customers in respect of such long term contracts in progress are disclosed under Current
Liabilities.
AS- 10 8. Fixed Assets

a) Fixed assets (other than those which have been revalued) are stated at their original cost of acquisition or
construction less accumulated depreciation/amortization and specific grants. Costs include related taxes,
freight, duties, levies, insurance, etc. attributable to acquisition and installation of assets and borrowing
cost incurred up to the date of commencing operations, but excludes duties and taxes that are recoverable
subsequently from the taxing authorities.
b) The revalued fixed assets are restated at their estimated current replacement values as on date of
revaluation as determined by the valuers.
c) In line with Accounting Standard 19 on ‘Leases’, fixed assets acquired through ‘finance lease’ transactions
entered into on or after 1 st April 2001, have been capitalised.
d) Machinery spares which are capitalised are depreciated over the useful life of the related fixed asset. The
written down value of such spare is charged to Profit and Loss Account on issue for consumption.
e) Where foreign currency loans have been availed to purchase fixed assets, the exchange difference is
adjusted with the carrying cost of the relevant asset. Depreciation is charged to the Profit and Loss Account
on the value so adjusted over the remaining life of the asset.
AS- 11 9. Foreign Currency Transactions

a) Transactions denominated in foreign currencies are normally recorded at the exchange rate prevailing at
the date of the transaction.
b) At the balance sheet date, monetary items denominated in foreign currency (such as cash, receivables,
payables etc.) are translated at the exchange rate prevailing on the last day of the accounting year.
c) Non-monetary items denominated in foreign currency (such as investments, fixed assets, etc) are
translated at the exchange rate ruling at the date of the transaction.
d) The income or expense on account of exchange difference either on settlement or on translation is
recognised in the Profit & Loss Account except those relating to acquisition of fixed assets which are
adjusted to the cost of such assets.
e) In case of forward contracts, the exchange rate difference between the forward rate and the exchange rate
on the date of the transaction is recognised over the life of the contract.
AS - 12 10. Grants
I. Capital Grants
a) In case of depreciable assets, the cost of the asset is shown at gross value and the grant thereon is treated
as capital grants which are recognised as income in the Profit and Loss Account over the period and in
proportion in which depreciation is charged.
b) In case of non- depreciable assets, the amount is credited to capital reserve. The amount is credited to
income as and when the conditions / obligations attached to the grant are fulfilled.
II. Revenue Grants
a) Revenue Grants are credited to Profit and Loss Account, or deducted from the relevant
expenses
11. Investments
a) Investments are classified into long - term investments and current investments. Long - term investments
are those that are intended to be held for more than a year from the date of acquisition.
b) Long - term investments are carried at cost. However, provision for diminution in value thereof is made,
wherever such decline is other than temporary.
c) Current investments are valued at cost or market value whichever is lower.
11. Investments
AS - 13 a) Investments are classified into long - term investments and current investments. Long - term investments
are those that are intended to be held for more than a year from the date of acquisition.
b) Long - term investments are carried at cost. However, provision for diminution in value thereof is made,
wherever such decline is other than temporary.
c) Current investments are valued at cost or market value whichever is lower.
AS - 15 12. Retirement Benefits

a) The company makes regular contribution to Provident fund and Super annuation fund and these
contributions are charged to Profit and Loss Account.
b) Liability towards gratuity is paid to a fund maintained by XXXX and administered through a separate trust
set up by the company. Difference between the fund balance and the accrued liability as at the end of the
year, determined based on actuarial valuation by XXX is charged to Profit and Loss Account.
c) Provision for leave encashment is made based on actuarial valuation carried out by XXX/actuary as on the
balance sheet date and is charged to Profit and Loss Account.
AS - 16 13. Borrowing Costs

a) Borrowing costs that are attributable to the acquisition or construction of qualifying assets, up to the date
when they are ready for their intended use or sale, are capitalised as part of the cost of such assets.
b) Other borrowing costs are charged to Profit & Loss Account.
AS -19 14. Lease

a) Lease income is accounted as per terms of the lease agreement for contracts entered into up to 31 st
March
st
2001. Income from leases entered into on or after 1 April 2001 is accounted for as per Accounting Standard-
19 “Leases” issued by Institute of Chartered Accountants of India (ICAI). Initial direct costs are written off in
the year in which they are incurred.
b) Cost of assets given on lease is amortized during the lease period, for all leased assets acquired prior to
01.04.2001 as recommended in the “Guidance Note on Accounting for Leases (Revised)” issued by ICAI.
Lease Equalization Account, which represents the excess of annual lease charge over statutory depreciation,
is debited to Profit and Loss Account.
c) Cost of assets taken on lease on or after 01.04.2001 is amortized over the lease tenure as per the Accounting
Standard- 19 “Leases” issued by ICAI, based on the capital recovery method.
AS -22 15. Taxation

a) Provision for current tax is made after taking into consideration benefits admissible under the provisions of
the Income Tax Act, 1961.
b) Deferred tax resulting from timing difference between book and taxable profit is accounted for using the
tax rates and laws that have been enacted or substantively enacted as on the balance sheet date.
c) The deferred tax asset is recognised and carried forward only to the extent that there is a reasonable
certainty that the assets will be realised in future.
d) Deferred tax assets/liabilities are reviewed at each balance sheet date.
AS - 26 16. Intangible Assets

a) Intangible assets are stated at cost less accumulated amortisation. Amortisation is done on written down
value basis.
b) Costs incurred on technical know-how/ license fee relating to production process are charged to revenue in
the year of incurrence.
c) Costs incurred on technical know-how/ license fee relating to process design/plants/facilities are accounted
as “Work-in-progress – Intangible Assets” during the construction period of the said plant/facility. At the
time of capitalisation of the said plant/facility, such costs are capitalised as Intangible Asset and amortized
on a straight line basis over a period of x years or life of the said plant/facility, whichever is earlier,
beginning from the quarter/month in which the said plant is capitalised.
d) Costs incurred on computer software purchased/developed on or after xxxx resulting in future economic
benefits, are capitalised as Intangible Assets and amortised over a period of x years beginning from the
quarter/month in which such software is capitalised. However, where such computer software is still in
development stage, costs incurred during development stage of such software are accounted as “Work-in-
progress- Intangible Assets”.
e) Expenditure incurred on Research & Development, other than on capital account, is charged to revenue.
AS - 28 17. Impairment of Assets

a) Consideration is given at each balance sheet date to determine whether there is any indication of
impairment of the company’s fixed asset.
b) If any indication exists, an asset’s recoverable amount is estimated.
c) An asset is treated as impaired when the carrying amount of asset exceeds its recoverable value.
d) The impairment loss is charged to Profit and Loss Account in the year in which an asset is identified as
impaired.
e) The impairment loss recognised in prior accounting periods is reversed if there has been a change in the
estimate of recoverable amount.
impairment of the company’s fixed asset.
b) If any indication exists, an asset’s recoverable amount is estimated.
c) An asset is treated as impaired when the carrying amount of asset exceeds its recoverable value.
d) The impairment loss is charged to Profit and Loss Account in the year in which an asset is identified as
impaired.
e) The impairment loss recognised in prior accounting periods is reversed if there has been a change in the
estimate of recoverable amount.
18. Provisions, Contingent Liabilities and Contingent Assets

AS - 29
a) Provisions involving substantial degree of estimation in measurement are recognised when there is a
present obligation as a result of past events and it is probable that there will be an outflow of resources.
b) Contingent liabilities are not recognised but are disclosed in the notes.
c) Show cause notices issued by various Government authorities are not considered as contingent liabilities.
However, when the demand are raised against such show cause notices after considering the company’s
views, these demands are either paid or treated as liabilities, if accepted by the company, and are treated
as contingent liability, if disputed by the company.
d) Contingent assets are neither recognised nor disclosed in the financial statements.
G.N 19. Excise Duty

a) Excise duties recovered are included in the sales of products. Excise duties paid on dispatches and in respect
of finished goods lying at factory premises are shown separately as an item of manufacturing expenses and
included in the valuation of finished goods.
20. Commodity Hedging

a) The realised gain or loss in respect of commodity hedging contracts, the pricing period of which has expired
during the year, are recognised in the Profit and Loss Account. However, in respect of contracts, the pricing
period of which extend beyond the balance sheet date, suitable provision for likely loss, if any, is provided.
AS-29 21 Contingent Liabilities not provided for:

(Rs. in ……..)
Particulars Current Year Previous Year
a. Claims against the company not acknowledged as debts xxxx xxxx

b. Uncalled liability on shares partly paid xxxx xxxx
c. Arrears of fixed cumulative dividends xxxx xxxx
d. Estimated amount of contracts remaining to be executed xxxx xxxx
on capital account and not provided for xxxx xxxx
e. Disputed Excise/Income tax/Sales tax demands xxxx xxxx
f. Letters of credit opened by banks xxxx xxxx
g. Counter guarantee to bankers xxxx xxxx
h. Industrial disputes pending before Tribunal/High Court xxxx xxxx
i. Differential amount of Customs Duty in respect of machinery xxxx xxxx
imported under EPCG Scheme including interest thereon xxxx xxxx
j. Liability in respect of Bills discounted with banks xxxx xxxx
k. Sales tax deferral liability assigned xxxx xxxx
l. Performance Guarantees xxxx xxxx
m.Certain industrial disputes are pending before Tribunal/High Court. No provision has been made
in the accounts as the liability of the company in respect of these disputes depends upon the
final outcome of such cases and the quantum of which is not currently ascertainable.
n.The Income Tax assessment of the company has been completed up to the Assessment Year xxxx-xxxx.
The disputed demand outstanding up to the said Assessment Year xxxx-xxxx is Rs. xxxx. Based on the
decisions of the Appellate authorities and the interpretations of other relevant provisions, the
Company has been legally advised that the demand is likely to be either deleted or substantially
reduced and accordingly no provision has been made.
22 Expenditure in Foreign Currency

(Rs. in ……..)
a.Travelling and training xxxx xxxx

b.General license fees(net of tax) xxxx xxxx
c.Ocean freight xxxx xxxx
d.Technical know how and services(net of taxes) xxxx xxxx
e.Demurrage charges xxxx xxxx
f. Royalty xxxx xxxx
g.Professional and consultancy fees xxxx xxxx
h.Interest and commitment charges on foreign currency xxxx xxxx
loans/debentures
i. Expenses on foreign contracts xxxx xxxx
j. Books, Publications and Membership fees paid xxxx xxxx
k.Postage, telegram, telex and other expenses xxxx xxxx
l. Loss in exchange xxxx xxxx
m.Salaries xxxx xxxx
n.Federal tax xxxx xxxx
o.Commission to Directors xxxx xxxx
p.Service charges to overseas subsidiaries xxxx xxxx
q.Others xxxx xxxx
23 Earnings in Foreign Currency
(Rs. in ……..)
a.Export of goods on FOB basis
- Product 1 xxxx xxxx
- Product 2 xxxx xxxx
[Includes Rs. xx ( Previous year Rs. xx )received in Indian
currency out of the repartiable funds of foreign customer]
b.Interest xxxx xxxx
c.Dividend xxxx xxxx
d.Technical know how and Service Charges xxxx xxxx
e.Commission xxxx xxxx
f.Consultancy services xxxx xxxx
g.Earnings on foreign contracts xxxx xxxx
h.Sale of publications xxxx xxxx
i. Gain in exchange xxxx xxxx
j. Others xxxx xxxx
24 Remittances in Foreign Exchange on account of dividend

1st Interim 2nd Interim 1st Interim
a. Number of Non resident Shareholders
b. Number of Equity shares on which dividend was paid
c. Year to which the dividend related
d. Amount remitted (net of tax) Rs. in xx
AS-11 25 Premium on Forward Exchange contracts to be recognised in the Profit and Loss Account of subsequent accounting period
amounts to Rs. xxxx(Previous year Rs. xxxx).
26 Sundry Creditors include a sum of Rs. xxxx payable to Small Scale Undertakings out of which outstanding for more than 30 days
as at the Balance Sheet date are:
(Rs. in ……..)
a. Party 1
b. Party 2
c. Party 3
Total - -
G.N 27 Auditors' Remuneration and Expenses

(Rs. in ……..)
a. Audit fees
b. Fees for
- Taxation matters
- Company Law matters
- Management services
c. Reimbursement of expenses
d. Cost Audit fees
Total - -
# Includes paid to Branch auditor
28 Managerial Remuneration
(Rs. in ……..)
I. Managing Directors/Executive Directors/WholeTime
Directors (WTD)
a. Salaries
b. Perquisites
c. Contribution to Provident fund
d. Contribution to Superannuation fund
e. Contribution to Gratuity fund
f. Leave salary/encashment
g. Incentive/Commission
Total
II. Directors other than Managing/Executive/WTD
a. Commission
b. Sitting fees
Total
Note:
In addition, Whole Time Directors are also allowed the use of Company's car/any other asset for private purpose (upto xxxx kms
per annum) on a payment of Rs.xxxx per month as specified in the terms of appointment.
III.Computation of Directors' Commission as per Section 349 of the Companies Act,1956

a. Profit before tax as per Profit and Loss Account 25,690
b. Add:
- Whole time Directors' remuneration including commission
- Non Whole time Directors' Sitting fees and Commission
- Provision for doubtful debts/advances
- Provision for diminution in the value of investments
- Profit on sale of fixed assets/immovable property
- Compensation under Voluntary Retirement Scheme
- Any other voluntary compensation,damage or payment
made otherwise than by virtue of a legal liability
- Loss from the sale of undertaking
- Depreciation as per Profit and Loss Account
- Asset written off as per Profit and Loss Account
- Loss on sale of fixed assets
Sec. 198, 309, 349, 350
- Loss on sale of long term/current investments -
b. Less:
- Capital Profit from the sale of undertaking
- Premium on investment in Preference shares
- Profit on sale of Fixed Assets/Immovable Property
- Profit on sale of long term/current investments
- Profit from the sale of undertaking
- Depreciation under Section 350 of Companies Act,1956
- Loss computed under Section 349 in respect of any earlier
year, to the extent unadjusted
- Provision for deferred repairs/doubtful debts/advances/
contingencies written back (net) -
c. Profit as per Section 349 25,690
d. Commission to WTD/Managing Director restricted to:

- in case of one WTD/Managing Director 5% 1,285
- in case of more than one WTD/Managing 10% 2,569
e. Commission to Non Whole time Director restricted to:
- in case the company has a Managing Director/WTD 1% 257
- in case the company has no Managing Director/WTD 3% 771
29 Earnings Per share (EPS)

I. Basic EPS
a. Profit after tax as per Profit and Loss Account 21,690

b. Add/(Less):Provision for tax of earlier years -
c. Net Profit available to Equity Shareholders 21,690
(Used as numerator for calculating Basic EPS)
d. Weighted Average Number of Equity Shares (Number)
(Used as denominator for calculating EPS)
e. Basic Earnings Per Share (face value of Rs.xx each) (in Rs.) #DIV/0!
II. Diluted EPS

AS-20
a. Profit as per I(c) above 21,690

b. Add: Dividend recognised on dilutive potential equity shares
and any tax thereon (eg.Preference dividend)
c. Add: Interest recognised on dilutive potential equity shares
and any tax thereon
d. Add/(Less): After tax amount of any change in expenses
or income -
e. Adjusted Net Profit / (Loss) 21,690

(Used as numerator for calculating Diluted EPS)
f. Weighted Average Number of Equity Shares
(as per I(d) above)
g. Add:Weighted Average Potential Equity Shares on
conversion of Preference Shares/Debentures
h. Add:Weighted Average Potential Equity Shares on
excercise of Options issued at less than fair value
i. Add: Weighted Average Number of equity shares on account
of proposed buy back not completed on balance sheet
date
j. Add:Partly paid shares not entitled to participate in dividend
k. Weighted Average Number of Equity Shares for Diluted -

EPS (Number)
l. Diluted Earnings Per Share(face value of Rs.xx each) #DIV/0!
AS-22 30 Deferred Tax Liabilities/Assets (Net)

(Rs. in ……..)
I.Deferred Tax Liabilities:
- Accelerated amortization of intangibles under IT Act 2,000 -
- Depreciation on fixed assets 1,000 -
- Lease accounting 2,000 -
Gross Deferred Tax Liabilities 5,000 -
II.Deferred Tax Assets:
- Brought forward business loss and unabsorbed
depreciation - -
- Expenditure allowable on actual payment - -
- Provision for diminution in the value of investments - -
- Provision for doubtful debts - -
- Provision for Excise duty 9,000 9,000
- Provision for Gratuity/pension - -
- Provision for impairment losses - -
Gross Deferred Tax Assets 9,000 9,000
Net Deferred Tax (Liabilities)/Assets (4,000) (9,000)
31 Related Party Disclosure
I. Nature of Relationship
Name of the Related Party Nature of Relationship
a. Name of the company Subsidiary (upto xx.xx.xxxx)*
b. Name of the company Sub-subsidiary
c. Name of the company Co-subsidiary
d. Name of the company Holding Company
e. Name of the company Associate
f. Name of the company Joint Venture
g. Name of the individual Key Management Personnel (KMP)
h. Name of the individual Relatives of KMP
i. Name of the company Enterprises over which KMP
exercise significant influence
* If the relationship exists only for a part of the year specify the date upto which the relationship existed for each category
AS-18
II. Details of transactions with Related Parties
Transactions Subsidiary Sub-subsidiary Co-subsidiary
A. Transactions during the year / period

a. Purchase of goods
b. Sale of goods
c. Purchase of fixed assets
d. Sale of fixed assets
e. Dividends received
f. Loans/Advances made
g. Loans received
h. Loans repaid
i. Remuneration
j. Interest received/receivable
k. Interest paid/payable
l. Inter corporate deposits given/taken
m. Guarantees given(Performance/Financial Guarantees)
n. Services rendered
o. Service income
p. Rent income
q. Machinery rentals
r. Debentures issued
s. Investments
t. Premium accrued on investment in Preference shares
u. ESOS granted
v. Reimbursement of expenses
w. Others
B. Amount outstanding on Balance Sheet date

a. Loans given outstanding
b. Loans taken outstanding
c. Amounts receivable
d. Amounts payable
e. Deposits outstanding
f. Debentures
CARO 32 Disputed Statutory Dues

2003 (Rs. in ……..)
Sl No. Name of the Statute Nature of Dues Current Year Previous
Year
a. Central Excise Act, 1944 Excise Duty xxxx xxxx
b. Finance Act, 1994(Service Tax) Service Tax xxxx xxxx
c. Customs Act, 1962 Customs Duty xxxx xxxx
d. Various State Sales Tax Acts Sales Tax-Local xxxx xxxx
e. Central Sales Tax Act, 1956 Sales Tax-CST xxxx xxxx
f. Income Tax Act, 1961 Income Tax xxxx xxxx
33 Licensed/Installed capacities and production details for the year ended ………….
Class of Goods* Unit Licensed Capacity**

Current Previous
Year Year
Finished Product 1 KL
Finished Product 2 MT
Finished Product 3
Finished Product 4
*Details furnished only in terms of Finished Products

** To be given only for those products covered by the list of industries in respect of which industrial licensing is compulsory
Notes:
1. Installed capacity is estimated on a 1/2/3 shifts basis and is as certified by the Company's Technical Expert
2. Conversion Factor from KL to MT is as certified by the Company's Technical Expert
34 Particulars in respect of Finished Goods Stock
Class of Goods Unit Year ended 30-12-1899

Quantity Value
Opening Stock
Finished Product 1
Finished Product 2
Finished Product 3
-
Closing Stock
Finished Product 1
Finished Product 2
Finished Product 3
-
Closing Stock excludes excess/shortages including damaged stocks and breakages etc.
35 Particulars in respect of Finished Goods - Purchases and Sales
Class of Goods Unit Year ended 30-12-1899

Quantity Value
Purchases
Finished Product 1
Finished Product 2
Finished Product 3
-
Sales
Finished Product 1
Finished Product 2
Finished Product 3
-
36 Analysis of Raw Materials consumed
Description Unit Year ended 30-12-1899

Quantity Value
Raw Material 1
Raw Material 2
Raw Material 3
-
37 Value of imported and indigenous raw materials, components

and spare parts consumed
Description Year ended 30-12-1899 Year ended

Value % Value
a. Raw Materials
- Imported
- Indigenous
- -
b. Components and Spare Parts
- Imported
- Indigenous
- -
c. Machinery Spares
- Imported
- Indigenous
- -
38 CIF Value of Imports

(Rs. in ……..)
Description Current Year Previous
Year
a. Raw Materials
b. Capital Goods
c. Stores and spare parts
d. Traded Goods
- -
39 Leases
I.In the case of Lessee
A.Finance Lease
a. Fixed Assets include the following assets purchased on Finance Lease:

(Rs. in ……..)
Particulars Amount
Gross Block
Asset 1
Asset 2
Asset 3
Total -
Net Block
Asset 1
Asset 2
Asset 3
Total -
b. Fixed Assets taken on Finance Lease prior to April 1, 2001 amount to Rs. xxxx (Previous Year Rs. xxxx). Future obligations
towards lease rentals under the lease agreement as at xx.xx.xxxx amount to Rs. xxxx (Previous Year Rs. xxxx).
(Rs. in ……..)
Within one year
Later than one year and not later than five years
Later than five years
Total - -
c. Fixed Assets taken on Finance Lease on or after April 1, 2001 amounts to Rs. xxxx (Previous Year Rs. xxxx). The minimum
lease rentals outstanding as on xx.xx.xxxx in respect of these assets are as follows:
Payment due Total Minimum Lease Future Interest on

Payments outstanding Outstandings
As at As at As at
30-12-1899 30-12-1899 30-12-1899
Within one year
Total - - -
d. Significant terms under lease agreement
(i) Basis of recognition of contingent rent.
(ii) Clauses governing renewal, purchase option or escalation.
(iii) Restricted Covenants, if any.
B.Operating Lease
a.The company has taken an asset on operating lease which are non-cancellable. The lease payments made during the year
AS-19
amount to Rs. xxxx (Previous Year Rs. xxxx). The breakup of Minimum Lease Payments outstanding is are follows:
(Rs. in ……..)
Within one year
Total - -
II.In the case of Lessor

A.Finance Lease
Particulars Gross Investment Unearned Finance

Income
As at As at As at
30-12-1899 30-12-1899 30-12-1899
Within one year
Total - - -
B.Operating Lease
a.Fixed Assets include the following assets given on Operating Lease:

(Rs. in ……..)
Particulars Amount
Gross Block
Asset 1
Asset 2
Asset 3
Total -
Depreciation
Asset 1
Asset 2
Asset 3
Total -
Impairment
Asset 1
Asset 2
Asset 3
Total -
Net Block
Asset 1
Asset 2
Asset 3
Total -
b.Future lease rentals receivable are as follows:

(Rs. in ……..)
Within one year
Total - -
AS-2 40 With effect from xx.xx.xxxx the company has changed the method of valuation of inventories from First In First Out to
Weighted Average method. Consequently the value of inventory as at year end is lower by Rs. xxxx with a corresponding
decrease in profit for the year. The change in the valuation method was necessitated by the computerisation of stock
valuation in an ERP environment incorporating connectivity between factory and Head Office.
AS-13 41 The company had an investment of Rs. xxxx in equity shares/redeemable preference shares/redeemable debentures of
XX Co. The operations of XX Co. had resulted in substantial erosion of its net worth and the company is potentially sick
under the Sick Industrial Companies (Special Provisions) Act, 1985. This being the long term strategic investment, in
the opinion of the management, no provision is required to be made for diminution in the value of this investment as the
same is of temporary nature.
AS- 14 42 Amalgamation
XXX Ltd., a wholly owned subsidiary was amalgamated with the Company effective xx.xx.xxxx as per the order of the
Hon'ble High Court of Madras dated (Month),(Year). The amalgamation has been accounted for under the "pooling of
interest/ purchase" method as prescribed by the Accounting Standard 14 issued by the Institute of Chartered Accou-
ntants of India. In accordance with the scheme of amalgamation sanctioned by the Hon'ble High Court of ………, the
assets,liabilities and reserves(if applicable) of XXX Ltd as at xx.xx.xxxx have been taken over at book value/fair value
and Rs.xxxx being the excess of assets over liabilities/liabilities over assets after adjusting the cost of investments of
the Company in the amalgamating company has been debited to General Reserve/ Goodwill/credited to Capital Reserve.
AS-15 43 Employee Benefits: ( relevant in case of defined benefit plans)
a. Changes in Present value of Defined Benefit Obligations representing reconciliation of opening and closing balances
Particulars Defined benefit Post employment

pension plans medical benefits
As at As at As at
30-12-1899 30-12-1899 30-12-1899
Opening defined benefit obligation
Service cost
Interest cost
Acturial losses(gains)
Losses(gains) on curtailments
Liabilities extinguished on settlements
Liabilities assumed in an amalgamation in the nature of purchase
Exchange differences on foreign plans
Benefits paid
Closing defined benefit obligation
b. Changes in fair value of Planned Assets representing reconciliation of opening and closing balances thereof
(Rs. in ……..)
Particulars Defined benefit
pension plans
Current Previous
Year Year
Opening fair value of plan assets
Expected return
Acturial gains and (losses)
Assets distributed on settlements
Contributions by employer
Assets acquired in an amalgamation in the nature of purchase
Exchange differences on foreign plans
Benefits paid
The company expects to contribute Rs.xxxx to its defined benefit pension plans in the year …
c. Statement showing movement for five years in amounts of obligations and value of plan assets
Defined benefit pension plans

Year 1 Year 2 Year 3
Defined benefit obligations
Plan assets
Surplus /(Deficit)
Experience adjustments on plan liabilities
Experience adjustments on plan assets
d. Principal Acturial Assumptions as at Balance Sheet Date

(in %)
Particulars Current year Previous year
Discount rate as at xx.xx.xxxx
Expected return on plan assets at last day of financial year
Proportion of employees opting for early retirement
Annual increase in healthcare costs
Future changes in maximum state healthcare benefits
e. Major categories of Plan Assets as a percentage of Total Plan Assets
Particulars Defined benefit Post employment

pension plans medical benefits
Current Previous Current
Year Year Year
Government of India Securities
High quality corporate bonds
Equity shares of listed Companies
Property
Others(to be specified)
f. Actual Return on Plan assets

(Rs. in ……..)
Particulars Current year Previous year
Expected return on planned assets
Acturial gain (loss) on planned assets
Actual return on plan assets
AS- 24 44 Discontinuing Operations

At the meeting held on xx.xx.xxxx, the Board of Directors had approved of a plan of disposal of certain
assets and settlement of attributable liabilities pertaining to (division name), since the busniess is
inconsistent with the long term objective of the Company/(any other reason). Negotiations are
continuing with prospective buyers.
The estimated net realisable value of assets after recoking settlement of related liabilities is Rs.xx.
Since at this juncture, uncertainities do remain as to the outcome of negotiations, the said surplus
has not been, as a measure of prudence, recognised in the statement of Profit and Loss.
(Rs. in ……..)
Revenue
Continuing Operations
Discontinuing Operations
Total
Cost of sales
Total
Operating Expenses
Total
Interest Expenses
Total
Others (like impairment of assets, employee severence cost,etc)
Total
Profit before tax
Continuing Operations 13,690 19,600
Discontinuing Operations 12,000 -
Total
Tax expense
Continuing Operations (4,900) -
Discontinuing Operations 900 -
Total
Profit after tax
Continuing Operations 8,790 19,600
Discontinuing Operations 12,900 -
Total
Basic EPS
Diluted ES
45 The previous year's figures have been rewoked, regrouped, rearranged and reclassified wherever
necessary. Accordingly amounts and other disclosures for the preceding year are included as part
statements and of the current year financial are to be read in relation to the amounts and other
disclosures relating to the current year.
AS-10 46 The Gross block of fixed assets incudes Rs. xxxx (Previous year Rs. xxxx) on account of revaluation
out in the past. Consequent to the said revaluation there is an additional charge of depreciation
of Rs. xxxx (Previous year Rs. xxxx) and an equivalent amount has been withdrawn from Revaluation
Reserve and credited to Profit and Loss Account.
47 The company has bought back xxxx equity shares for a total consideration of Rs.xxxx at an average
rice of Rs.xx per share. Consequently a sum of Rs. xx being the premium on buyback has been charged
to Share Premium Account and a sum of Rs. xxxx has been transferred to Capital Redemption Reserve
from General Reserve.
AS-28 48 (a) The recoverable amount of certain items of class of assets has been determined on the basis of
Net Selling Price Method, based on offers received from prospective buyers for purchase of the
select items of class of asset. The offers received indicate that there is an active market for the
items proposed for sale. The highest offer has been considered. The company however does not
have intention to sell these assets in the near future, considering that during the remaining useful
life of the assets, the probability of assets generating economic benefits is very good and the
present value of such benefits equals the offers in hand.
(b) The recoverable amount of certain items of class of assets has been determined on the basis of
Value in Use Method.To this end, the company has taken into account attributable operational flows
for a period of xx years and estimated terminal flows at the end of that period by applying a
discount rate of x% over bank rate applicable on balance sheet date.
(Rs. in ……..)
Previous Year
2nd Interim
nt accounting period
ing for more than 30 days
e purpose (upto xxxx kms

(Rs. in ……..)
Previous Year
19,600
19,600
980
1,960
196
588
-
(Rs. in ……..)
Previous Year
19,600
-
-
#DIV/0!
-
-
#DIV/0!
ed for each category
Holding Co
Forum where the dispute is
Assistant Commissioner/
Commissioner Appeals/
Deputy Commissioner/
Tribunal/
High Court/Supreme Court
Installed Capacity
Current
Year
ensing is compulsory
(Rs. in ……..)
Year ended
Quantity
(Rs. in ……..)
Year ended
Quantity
(Rs. in ……..)
Year ended
Quantity
(Rs. in ……..)
###
%
xx). Future obligations
s. xxxx). The minimum
Future Interest on
Outstandings
As at
###
-
made during the year
Unearned Finance
Income
As at
###
h a corresponding
le debentures of
s potentially sick
investment as the
o Capital Reserve.
(Rs. in ……..)
Post employment
medical benefits
As at
###
(Rs. in ……..)
Year 4
(in %)
Post employment
medical benefits
Previous
Year
(Rs. in ……..)
(Rs. in ……..)
Associate Joint KMP Relatives Enterprises over
Venture of KMP
which KMP
exercise signif.
influence
Forum where the dispute is
pending
Commissioner Appeals/
Deputy Commissioner/
High Court/Supreme Court
Installed Capacity Actual Production

Previous Current Previous
Year Year Year
(Rs. in ……..)
###
Value
(Rs. in ……..)
###
Value
(Rs. in ……..)
###
Value
(Rs. in ……..)
Present Value of
Minimum Lease
Payments
As at As at
### ###
- -
(Rs. in ……..)
Present Value of
Minimum Lease
Rentals
As at As at
### ###
- -
(Rs. in ……..)
Year 5

PART IV
BALANCE SHEET ABSTRACT AND COMPANY'S GENERAL BUSINESS PROFILE
I .Registration details:
Registration No: State code : xx
Balance Sheet Date: 30-Dec-99
II. Capital raised during the year(Amount in Rs. 000)
Public Issue Rights Issue
Bonus Issue Private placement
ACADEMIC GUIDANCE:
III. Position of Mobilisation and deployment of Funds (Amount in Rs.'000)
Total liabilities 274 Total Assets
Source of Funds:
Paid up Capital 65 Reserves & Surplus
Secured Loans 106 Unsecured loans
Application of Funds:
Net Fixed Assets 49 Investments
Net Current Assets 182 Miscellaneous Expenditure
Accumulated losses 0
IV. Performance of Company (Amount in Rs.'000)
Turnover 104 Total Expenditure
Profit/Loss before Tax 26 Profit/Loss after Tax
Earnings per Share in Rs. 0 Dividend rate %

V. Generic Names of three principal Products/Services of Company
(as per monetary terms)
a. Item Code No. (ITC Code)

Product Description: xxxxxxxxxxxxxxxxxxxxxxxxxx
USINESS PROFILE
274
52
51
36
77
22

Indian Financial Statement Excel Audit Software

Transféré par

Informations du document

Copyright

Formats disponibles

Partager ce document

Partager ou intégrer le document

Options de partage

Avez-vous trouvé ce document utile ?

Ce contenu est-il inapproprié ?

Droits d'auteur :

Formats disponibles

Indian Financial Statement Excel Audit Software

Transféré par

Droits d'auteur :

Formats disponibles

Application Guidance for Accounting Standards in India

This is a tool for the preparation and presentation of financial statements of

How to use the model?

Password to unprotect the sheets : acc

How to use the model?

Account name Opening Transactions Closing

Share Capital 500

b. Select the imported data, as shown below:

Account name Opening Transactions Closing

Share Capital 500

Account name Opening Transactions Closing

Dividend Income 600

the period,and the totals of the debit and credit transactions

Click on the OK button.

st commonly used account names/heads.

ify the account description by over writing on the generic

pe the keyword and browse through the matching

ional account in the following manner.

additional accounts of the type indicated there. In that case,

closing stock, appropriations,certain provisions, etc. they

ect has to be given in the B/S items of the respective reserves.

gs to Balance Sheet"(GR BS) sheet which ever is relevant

an be done by searching the keyword using the Ctrl+F

row shaded in blue Once you have located

In case more than one account is to updated, they have

not to be modified or altered.

come and expenses relating to the last financial year.

These are to be overwritten to describe the necessary

uire descriptional disclosure in the Schedule to Balance

s are to be mandatorily filled up manually, unless they

ponding previous year figures.

ells have to be updated with current and last year figures

ed cells which previous year and current year figures, as

premium account, like issue of bonus shares, payment

olicies are given. These can be altered to suit your needs

can hide (not delete) the rows which are irrelevant to

Round off Permissible:

aken to adhere to the above rules.

the accounts in the following order:Balance Sheet credit items,

A small trial balance containing 4 items may look like as below:

the model trial balance can be done easily.

try process at the relevant areas.

e panes according to your convenience. To

General Company Information

Name of the company : Gulf Builders & Contractors L.L.C.

3 Non Executive Director :

Name and Address :

Date of last financial :

Gulf Builders & Contractors L.L.C.

TRIAL BALANCE AS ON 30-Dec-99

Balance as on 30-12-1899 Transactions Balance as on 30-12-1899

Accumulated amortisation on Goodwill 500 200 - 700

Total 223,800 223,800 527,980 527,980 529,955 529,955

Gulf Builders & Contractors L.L.C

GROUPINGS TO PROFIT AND LOSS ACCOU

For the year ended

PROFIT AND LOSS ACCOUNT

30-12-1899 For the year ended 30-12-1899

Stores and spare parts 4,000 6,000

Secured - considered good

Cash on hand (including remittance in transit) (300) -

Advances and loans to Subsidiaries 3,000 2,600

Advances and loans to Partnership Firms in which the company

Bills of Exchange 2,300 1,000