Analysis of Financial Statements

Schedule III to the Companies Act, 2013 deals with the form of Balance Sheet and Profit and Loss Account and classified disclosure to be made therein and it applies to all the companies registered under […]

Here ,in this article all the main terms used in Balance Sheet of a Company as per Companies Act,2013, have been explained in brief.

Terms explained in this article includes Share Capital, Cash and Cash Equivalents, Deferred Tax Assets, Deferred Tax Liabilities etc.

A format for Statement of Profit and Loss is prescribed for the first time, where revenue from Operations and Other Income is shown separately and Expenses on business operations are shown on the basis of nature and not function.