Format of p/l & bs in exams

Final 609 views 1 replies

RS

none

298 Points Joined July 2010

Hi friends

I was going through the practice manual of Financial Reporting and I saw that mostly in all the solutions the format of the Balance Sheet was as per The Companies Act i.e. in the vertical form and not in T form. Does the format matter in the exams? Is it manadatory to present the BS in the vertical form?

Please reply. Thanks

Replies (1)

APOORV SAXENA

Chartered Accountant

794 Points Joined May 2010

In solution....make that format which is given in Question.

eg. in Amalgamation, if in quesion B/S of Co. is given in verical format, make vertical in solution, and if its horizontal in question, make horizontal.

And in holding, only T shape B/S is made.