Reserve and surpluses

Is free resevrves and reserve and surplus is same ?
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Quick Summary
This discussion clarifies the difference between 'free reserves' and 'reserves and surplus'. While 'reserves and surplus' is a broad balance sheet category including various types of reserves and gains, 'free reserves' specifically refers to profits available for dividend distribution. Both are important components of shareholders' funds.

Reserves are the amounts set aside for future use.

Surplus is an excess gain which arises on a transaction. Example, surplus gain when currency is exchanged between USD and INR at a higher exchange rate from the date when purchased. 

"Reserves and surplus" is a significant head on the liabilities side of the balance sheet forming part of the shareholders' funds.

"Reserves and surplus"includes Statutory and voluntary reserves ; capital and revenue reserves; and free and specific reserves.and also include security Premium ect..

“free reserves” means such reserves which, as per the latest audited balance sheet of a company, are available for distribution as dividend and which company can freely drawn.

Free reserves is also part of reserves and surplus.
Ok.thanks
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