Give a Format of Balance sheet as per Schedule –III of Companies Act, 2013 .

The balance sheet format as per Schedule III of the Companies Act, 2013, provides a structured way for companies to present their financial position at the end of a financial period. Schedule III outlines the format for both the classified balance sheet and the statement of changes in equity. Here’s a detailed format of the balance sheet as per Schedule III:

Balance Sheet Format (as per Schedule III, Companies Act, 2013)

Part I: Balance Sheet

1. Equity and Liabilities

1. Shareholders' Funds
• (a) Share Capital
• Authorized Share Capital
• Issued, Subscribed and Paid-up Share Capital
• (b) Reserves and Surplus
• General Reserve
• Securities Premium Reserve
• Revaluation Reserve
• Capital Reserve
• Surplus in the Statement of Profit and Loss (Balance of Profit or Loss after adjustments)
• Total Shareholders' Funds
2. Non-Current Liabilities
• (a) Long-Term Borrowings
• Secured Loans
• Unsecured Loans
• (b) Deferred Tax Liabilities (Net)
• (c) Other Long-Term Liabilities
• (d) Long-Term Provisions
• Provision for Employee Benefits (e.g., Gratuity)
• Other Provisions
• Total Non-Current Liabilities
3. Current Liabilities
• (a) Short-Term Borrowings
• (b) Trade Payables
• Micro and Small Enterprises
• Other than Micro and Small Enterprises
• (c) Other Current Liabilities
• Current Maturities of Long-Term Debt
• Interest Accrued but not Due
• Other Liabilities (e.g., Statutory Dues)
• (d) Short-Term Provisions
• Provision for Income Tax
• Provision for Employee Benefits
• Other Provisions
• Total Current Liabilities

Total Equity and Liabilities

Part II: Assets

1. Non-Current Assets
• (a) Property, Plant, and Equipment
• Tangible Assets
• Intangible Assets
• Capital Work-in-Progress
• (b) Non-Current Investments
• (c) Deferred Tax Assets (Net)
• (d) Long-Term Loans and Advances
• Loans to Related Parties
• Security Deposits
• (e) Other Non-Current Assets
• Total Non-Current Assets
2. Current Assets
• (a) Current Investments
• (b) Inventories
• Raw Materials
• Work-in-Progress
• Finished Goods
• Stock-in-Trade
• (c) Trade Receivables
• Outstanding for a period exceeding six months
• Others
• (d) Cash and Cash Equivalents
• Cash on Hand
• Bank Balances
• Deposits with Banks
• (e) Short-Term Loans and Advances
• Loans to Related Parties
• Advances to Suppliers
• (f) Other Current Assets
• Prepaid Expenses
• Accrued Income
• Total Current Assets

Total Assets

Key Points:

1. Presentation: The balance sheet is presented in a vertical format, with assets listed on one side and equity and liabilities on the other side. It should be prepared in compliance with the Schedule III format to ensure consistency and comparability.
2. Additional Information: The format includes various sub-items under each category, allowing detailed disclosure of financial information. Companies should provide additional notes and disclosures as required by the Act.
3. Consistency: Companies must ensure that the balance sheet format and classifications are consistent with previous periods to allow for meaningful comparisons.

This format helps in providing a clear picture of a company's financial position, including its assets, liabilities, and equity, ensuring transparency and adherence to regulatory requirements.

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