What are the components of financial statements?

Financial statements include PNL, Balance Sheet, Notes, Cash Flow.

What is the format of the Companies Act 2013 Schedule Part One?

The format includes Particulars, Note Number, Current Year Figures, Previous Year Figures.

Shareholders Fund, Share Application Money, Non-Current Liabilities, Current Liabilities.

Non-Current Assets, Current Assets.

Expenses are divided into A, B, C, D, E, F, G subheads.

The format of the Companies Act 2013 Schedule Part One is essential for presenting a balance sheet, with four key columns: Particulars, Note Number, Current Year Figures, and Previous Year Figures for comparison.
Dividend calculations are based on paid-up capital, not face value, and are paid from free reserves, not restricted reserves, following specific conditions outlined in the Companies Declaration and Payment of Dividend Rules 2014.

What are the components of financial statements?
Financial statements include PNL, Balance Sheet, Notes, Cash Flow.
What is the format of the Companies Act 2013 Schedule Part One?
The format includes Particulars, Note Number, Current Year Figures, Previous Year Figures.
What are the main heads under Equity and Liabilities in financial statements?
Shareholders Fund, Share Application Money, Non-Current Liabilities, Current Liabilities.
What are the components of Assets in financial statements?
Non-Current Assets, Current Assets.
How are expenses categorized in financial statements?
Expenses are divided into A, B, C, D, E, F, G subheads.

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Chapter 11 of Unit One covers Financial Statements of a Company, with a weightage from 10 to 18.
Financial statements include PNL (Income Statement), Balance Sheet (Position Statement), Notes to Accounts, and Cash Flow Statement.
Unit One focuses on Balance Sheet, PNL, and Notes to Account, while Cash Flow Statement is covered in Unit Two.
The format of the Companies Act 2013 Schedule Part One is crucial for balance sheet presentation.
The format includes four columns: Particulars, Note Number, Current Year Figures, and Previous Year Figures for comparison.
Equity and Liabilities is the main head, with four subheads: Shareholders Fund, Share Application Money Pending Allotment, Non-Current Liabilities, and Current Liabilities.
Shareholders Fund comprises Share Capital, Reserve and Surplus, and Money Received Against Share Warrant.
Share Application Money Pending Allotment represents funds received but not yet allotted, shown separately until allotment.
Non-Current Liabilities include Long Term Borrowings, Deferred Tax Liability, Other Long Term Liabilities, and Long Term Provisions.
Current Liabilities consist of Short Term Borrowings, Trade Payables (Creditors and Bills Payable), and other liabilities.

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Other current liabilities include outstanding expenses, rent, and salary, as well as income received in advance.
Long-term provisions are made for expenses expected within 12 months, such as provision for tax.
Equity and liabilities consist of Shareholder Fund, Share Application Money, Non-Current Liability, and Current Liability.
Shareholder Fund includes Share Capital, Reserves, Surplus, and Share Warrant Money.
Non-Current Liability includes Long-Term Provisions, Long-Term Loans, and Advances.
Current Liability comprises Short-Term Provisions, Other Current Liabilities, and Short-Term Loans and Advances.
Assets are divided into Non-Current Assets and Current Assets.
Non-Current Assets include Non-Current Investments, Deferred Tax Assets, Long-Term Loans, and Advances.
Current Assets consist of Current Investments, Inventories, Trade Receivables, and Cash and Cash Equivalents.
Other Current Assets encompass Short-Term Loans and Advances, and miscellaneous items like Accrued Income or Prepaid Expenses.

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Other income is anything that is not RFO, which includes all income apart from RFO.
Total Revenue is calculated by adding two components together.
Expenses are divided into seven subheads: A, B, C, D, E, F, and G.
The first expense is the cost of material consumed, calculated as opening raw material plus purchase of raw material minus closing raw material.
The second expense is the purchase of stock in trade.
The third expense is the change in inventories, including work in progress, finished goods, and stock in trade.
Employee benefit expenses cover costs related to employees like salaries, wages, travel allowance, and staff welfare.
Finance cost includes interest payments.
Depreciation is a non-cash expense.
Other expenses include carriage, selling expenses, freight, advertisement, printing, stationary, and bad debts.

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Interim dividend is recorded in books as an expense, reducing bank balance.
Losses or expenses decrease profit and bank balance, termed as Interim Dividend.
Paid up capital formula: Called up capital minus call sr yer.
Dividend is always calculated on paid up capital, not face value.
Dividend is paid from free reserves, not restricted reserves.
Companies Declaration and Payment of Dividend Rules 2014 impose conditions.
Rate of dividend cannot exceed average of last three years.
Total amount withdrawn from profits cannot exceed paid up capital plus free reserves.
Amount withdrawn from profits must first cover current year losses, then set off.