Accounting schedules

Hello..

on what basis accounting schedules are done for Bal.sheet & P/L a/c , is there any standards for this..

thankyou

regards

- karthik

Replies (2)

No unlike under Banking and insurance industry there is no fixed format specified any where for schedules for Company financials.

Normally all Balance Sheets items viz., CL & CA ie., S.Crs & SDrs. Fixed Assets, Cash & Bank Balances, Deposits everything appeared in Balance Sheet Schedule is required & its best to prepare since it will reflect in the next FY also. More over in IT scrutiny they may insist for such details.

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