{"id":9518,"date":"2018-02-12T15:43:45","date_gmt":"2018-02-12T10:13:45","guid":{"rendered":"http:\/\/mycbseguide.com\/blog\/?p=9518"},"modified":"2019-03-11T14:37:21","modified_gmt":"2019-03-11T09:07:21","slug":"financial-statements-company-class-12-notes-accountancy","status":"publish","type":"post","link":"https:\/\/mycbseguide.com\/blog\/financial-statements-company-class-12-notes-accountancy\/","title":{"rendered":"Financial Statements Of A Company Class 12 Notes Accountancy"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_76 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/mycbseguide.com\/blog\/financial-statements-company-class-12-notes-accountancy\/#CBSE_Guide_Financial_Statements_Of_A_Company_class_12_Notes_Accountancy\" >CBSE Guide Financial Statements Of A Company class 12 Notes Accountancy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/mycbseguide.com\/blog\/financial-statements-company-class-12-notes-accountancy\/#Class_12_Accountancy_notes_Chapter_11_Financial_Statements_Of_A_Company\" >Class 12 Accountancy notes Chapter 11 Financial Statements Of A\u00a0Company\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/mycbseguide.com\/blog\/financial-statements-company-class-12-notes-accountancy\/#CBSE_Class_12_Accountancy_Revision_Notes_Chapter_1_Financial_Statements_Of_A_Company\" >CBSE Class 12 Accountancy Revision Notes Chapter 1 Financial Statements Of A Company<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/mycbseguide.com\/blog\/financial-statements-company-class-12-notes-accountancy\/#At_contents_of_Balance_Sheet\" >At contents of Balance Sheet<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/mycbseguide.com\/blog\/financial-statements-company-class-12-notes-accountancy\/#Part_I_%E2%80%93_Form_of_Balance_Sheet\" >Part I \u2013 Form of Balance Sheet\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/mycbseguide.com\/blog\/financial-statements-company-class-12-notes-accountancy\/#13_Non-current_liabilities\" >1.3 Non-current liabilities<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/mycbseguide.com\/blog\/financial-statements-company-class-12-notes-accountancy\/#13a_Long-term_borrowings\" >1.3.a. Long-term borrowings :<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/mycbseguide.com\/blog\/financial-statements-company-class-12-notes-accountancy\/#13c_Other_Long-term_liabilities\" >1.3.c Other Long-term liabilities<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/mycbseguide.com\/blog\/financial-statements-company-class-12-notes-accountancy\/#13c_Long-term_Provisions\" >1.3.c. Long-term Provisions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/mycbseguide.com\/blog\/financial-statements-company-class-12-notes-accountancy\/#I4_Current_Liabilities\" >I.4. Current Liabilities<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/mycbseguide.com\/blog\/financial-statements-company-class-12-notes-accountancy\/#14a_Short-term_borrowings\" >1.4.a. Short-term borrowings<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/mycbseguide.com\/blog\/financial-statements-company-class-12-notes-accountancy\/#14c_Other_current_liabilities\" >1.4.c. Other current liabilities<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/mycbseguide.com\/blog\/financial-statements-company-class-12-notes-accountancy\/#14d_Short-term_Provisions\" >1.4.d. Short-term Provisions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/mycbseguide.com\/blog\/financial-statements-company-class-12-notes-accountancy\/#_I_of_the_Schedule_III\" >\u00a0I of the Schedule III :<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/mycbseguide.com\/blog\/financial-statements-company-class-12-notes-accountancy\/#_II1aii_Intangible_Assets\" >\u00a0II.1.a.ii. Intangible Assets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/mycbseguide.com\/blog\/financial-statements-company-class-12-notes-accountancy\/#Trade_investments\" >Trade investments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/mycbseguide.com\/blog\/financial-statements-company-class-12-notes-accountancy\/#A_receivable_shall_be_classified_as_%E2%80%98trade_receivable_if_it_is_in_respect_of_the_amount_due_on_account_of_goods_sold_or_services_rendered_in_the_normal_courses_of_business\" >A receivable shall be classified as \u2018trade receivable\u2019 if it is in respect of the amount due on account of goods sold or services rendered in the normal courses of business.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/mycbseguide.com\/blog\/financial-statements-company-class-12-notes-accountancy\/#I2_Current_Assets\" >I.2. Current Assets<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/mycbseguide.com\/blog\/financial-statements-company-class-12-notes-accountancy\/#CBSE_Class_12_Revision_Notes_and_Key_Points\" >CBSE Class 12 Revision Notes and Key Points<\/a><\/li><\/ul><\/nav><\/div>\n<p><strong>Financial Statements Of A Company class 12 Notes Accountancy<\/strong> in PDF are available for free download in myCBSEguide mobile app. The best app for CBSE students now provides accounting for partnership firm\u2019s fundamentals class 12 Notes latest chapter wise notes for quick preparation of CBSE board exams and school-based annual examinations. Class 12 Accountancy notes on chapter 11 accounting for partnership firm\u2019s fundamentals are also available for download in CBSE Guide website.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"CBSE_Guide_Financial_Statements_Of_A_Company_class_12_Notes_Accountancy\"><\/span><strong>CBSE Guide Financial Statements Of A Company class 12 Notes Accountancy<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>CBSE guide notes are the comprehensive notes which covers the latest syllabus of CBSE and NCERT. It includes all the topics given in NCERT class 12 Accountancy text book. Users can download CBSE guide quick revision notes from myCBSEguide mobile app and my CBSE guide website.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Class_12_Accountancy_notes_Chapter_11_Financial_Statements_Of_A_Company\"><\/span><strong>Class 12 Accountancy notes Chapter 11 Financial Statements Of A\u00a0Company\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Download CBSE class 12th revision notes for chapter 11 Financial Statements Of A\u00a0Company\u00a0in PDF format for free. Download revision notes for Financial Statements Of A\u00a0Company\u00a0class 12 Notes and score high in exams. These are the Financial Statements Of A\u00a0Company\u00a0class 12 Notes prepared by team of expert teachers. The revision notes help you revise the whole chapter 11 in minutes. Revision notes in exam days is one of the best tips recommended by teachers during exam days.<\/p>\n<p style=\"text-align: center;\"><strong><a class=\"button\" href=\"https:\/\/mycbseguide.com\/downloads\/cbse-class-12-accountancy\/1315\/cbse-revision-notes\/7\/\">Download Revision Notes as PDF<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"CBSE_Class_12_Accountancy_Revision_Notes_Chapter_1_Financial_Statements_Of_A_Company\"><\/span><strong>CBSE Class 12 Accountancy Revision Notes Chapter 1 Financial Statements Of A Company<br \/>\n<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Financial Statements are the end products of accounting process and are prepared at end of the accounting period to reveal the financial position of the enterprise at a particular date and the result of its business operations preparing an accounting period.<\/p>\n<p>As per Section 2(40) of the Companies Act, 2013 Financial Statements includes:<\/p>\n<ol>\n<li>Balance Sheet or Position Statement<\/li>\n<li>Statement of Profit and Loss or Income Statement<\/li>\n<li>Notes to Accounts.<\/li>\n<li>Cash Flow Statement.<\/li>\n<\/ol>\n<p>Balance Sheet: It is a statement of assets, liabilities and equities of a business and it is prepared to show the financial position of the company at particular date.<\/p>\n<p>The balance sheet of a company is prepared as per the formal prescribed in part I of Schedule III of the Companies Act, 2013.<\/p>\n<p>The Schedule III prescribes only the vertical format for presentation of financial statements. Thus, a company will now not have an option to use horizontal format for the presentation of financial statements.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"At_contents_of_Balance_Sheet\"><\/span><strong>At contents of Balance Sheet<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>An asset is a resource controlled by the enterprise as a result of past events Pam which future economic benefits are expected to flow to the enterprise.<\/p>\n<p>Liabilities is a present obligation of the enterprise arising from past events, the settlement of which is expected to result in an outflow from the enterprise of resources embodying economic benefits.<\/p>\n<p>Equity is the residual interest in the assets of the enterprise after deducting all its liabilities.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Part_I_%E2%80%93_Form_of_Balance_Sheet\"><\/span><strong>Part I \u2013 Form of Balance Sheet\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ol>\n<li><strong><br \/>\nShare capital equity AND LIABILITIES<\/strong><\/li>\n<li><strong> (1) Shareholders\u2019 funds<\/strong><\/li>\n<\/ol>\n<ul>\n<li>Reserves and surplus<\/li>\n<li>Money received against share warrants<\/li>\n<\/ul>\n<ol>\n<li><strong> (1)b.Reserves and Surplus<\/strong><\/li>\n<\/ol>\n<p><strong>(i)<\/strong> Reserves and Surplus shall be classified as :<\/p>\n<p><strong>(a)<\/strong> Capital Reserves;<\/p>\n<p><strong>(b)<\/strong> Capital Redemption Reserve;<\/p>\n<p><strong>(c)<\/strong> Securities Premium Reserve;<\/p>\n<p><strong>(d)<\/strong> Debenture Redemption Reserve;<\/p>\n<p><strong>(e)<\/strong> Revaluation Reserve;<\/p>\n<p><strong>(f)<\/strong> Share Options Outstanding Account;<\/p>\n<p><strong>(g)<\/strong> Other Reserves \u2013 (Specify the nature and purpose of each reserve and the amount in respect thereof such as Tax Reserve);<\/p>\n<p><strong>(h)<\/strong> Surplus i.e. Balance in statement of Profit &amp; Loss.<\/p>\n<p><strong>(i)<\/strong> Debit balance of Statement of Profit and Loss shall be shown as a negative figure under the head \u2018surplus\u2019. Similarly, the balance of \u2018Reserves and Surplus\u2019, After adjusting negative balance of surplus, if any, shall be shown under the head \u2018Reserves and Surplus\u2019 even if the resulting figure is in the negative.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"13_Non-current_liabilities\"><\/span><strong>1.3 Non-current liabilities<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A liability shall be classified as non-current if it is not a current liability. The following items shall be disclosed under non-current liabilities.<\/p>\n<p>Long-term borrowings<\/p>\n<p>Deferred tax liabilities (Net)<\/p>\n<p>Other Long term liabilities<\/p>\n<p>Long-term provisions<\/p>\n<h3><span class=\"ez-toc-section\" id=\"13a_Long-term_borrowings\"><\/span><strong>1.3.a. Long-term borrowings :<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>1.3.a. 1. <\/strong>Long-term borrowings shall be classified as :<\/p>\n<p><strong>(a)<\/strong> Bonds\/debentures;<\/p>\n<p><strong>(b)<\/strong> Term loans;<\/p>\n<p>From banks;<\/p>\n<p>From other parties;<\/p>\n<p><strong>(c)<\/strong> Deferred payment liabilities;<\/p>\n<p><strong>(d)<\/strong> Deposits;<\/p>\n<p><strong>(e)<\/strong> Loans and advances from related parties;<\/p>\n<p><strong>(f)<\/strong> Long term maturities of finance lease obligations;<\/p>\n<p><strong>(g)<\/strong> Other loans and advances (Specify nature).<\/p>\n<h3><span class=\"ez-toc-section\" id=\"13c_Other_Long-term_liabilities\"><\/span><strong>1.3.c Other Long-term liabilities<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>This should be classified into :<\/p>\n<p><strong>(a)<\/strong> Trade payables; (payable after 12 months from date of Balance sheet or after operating cycle); and<\/p>\n<p><strong>(b)<\/strong> Others.<\/p>\n<p>A payable shall be classified as \u2018trade payable\u2019 if it is in respect of amount due on account of goods purchased or services received in the normal course of business operations.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"13c_Long-term_Provisions\"><\/span><strong>1.3.c. Long-term Provisions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>This amounts shall be classified as :<\/p>\n<p><strong>(a)<\/strong> Provision for employee benefits. Example: Provision for Provident Fund<\/p>\n<p><strong>(b)<\/strong> Other (specify nature). Example: Provision for Warranties.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"I4_Current_Liabilities\"><\/span><strong>I.4. Current Liabilities<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ol>\n<li>A liability shall be classified as current when it satisfies any of the following criteria:<\/li>\n<\/ol>\n<p><strong>(a)<\/strong> it is expected to be settled in the company\u2019s normal operating cycle; or<\/p>\n<p><strong>(b)<\/strong> it is held primarily for the purpose of being traded; or<\/p>\n<p><strong>(c)<\/strong> it is due to be settled within twelve months after the reporting date; or<\/p>\n<p><strong>(d)<\/strong> the company does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Terms of a liability that could, at the option of the counter party, result in its settlement by the issue of equity instruments do not affect its classification.<\/p>\n<ol start=\"2\">\n<li>An operating cycle is the time between the acquisition of an asset for processing and their realization in cash or cash equivalents. Where the normal operating cycle cannot be identified, it is assumed to have a duration of 12 months.<\/li>\n<\/ol>\n<p>Short-term borrowings<\/p>\n<p>Trade payables<\/p>\n<p>Other Current liabilities<\/p>\n<p>Short-term provisions<\/p>\n<h3><span class=\"ez-toc-section\" id=\"14a_Short-term_borrowings\"><\/span><strong>1.4.a. Short-term borrowings<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Short-term borrowings are the borrowings which are payable within 12 months from the date of Balance Sheet or within the period of operating cycle. The following items are included in short term borrowings:<\/p>\n<p><strong>(a)<\/strong> loans repayable on demand;<\/p>\n<p><strong>(b)<\/strong> Bank overdraft and cash credit limit form banks;<\/p>\n<p><strong>(c)<\/strong> Loans from other parties repayable within 12 months;<\/p>\n<p><strong>(d)<\/strong> Deposits; and<\/p>\n<p><strong>(e)<\/strong> Other loans and advances (Specify nature).<\/p>\n<h3><span class=\"ez-toc-section\" id=\"14c_Other_current_liabilities\"><\/span><strong>1.4.c. Other current liabilities<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The amounts shall be classified as :<\/p>\n<p><strong>(a)<\/strong> Current maturities of long-term debt;<\/p>\n<p><strong>(b)<\/strong> Current maturities of finance lease obligations;<\/p>\n<p><strong>(c)<\/strong> Interest accrued but not due on borrowings;<\/p>\n<p><strong>(d)<\/strong> Interest accrued and due on borrowings;<\/p>\n<p><strong>(e)<\/strong> Income received in advance;<\/p>\n<p><strong>(f)<\/strong> Unpaid dividends;<\/p>\n<p><strong>(g)<\/strong> Application money received for allotment of securities and due for refund and interest accrued thereon;<\/p>\n<p><strong>(h)<\/strong> Unpaid matured deposits and interest accrued thereon;<\/p>\n<p><strong>(i)<\/strong> Unpaid matured debentures and interest accrued thereon;<\/p>\n<p><strong>(j)<\/strong> Calls-in-Advance<\/p>\n<p><strong>(k)<\/strong> Other payables (specify nature).<\/p>\n<h3><span class=\"ez-toc-section\" id=\"14d_Short-term_Provisions\"><\/span><strong>1.4.d. Short-term Provisions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Provisions which are expected to mature within 12 months are classified as short term provisions.<\/p>\n<p>The amounts shall be classified as :<\/p>\n<p><strong>(a)<\/strong> Provision for employee benefits;<\/p>\n<p><strong>(b)<\/strong> Others (specify nature).<\/p>\n<p>Others would include Proposed Dividend, Provision for Taxation, Provision for expenses, Warranty Provisions, etc. These amounts should be disclosed separately specifying nature thereof.<\/p>\n<ol>\n<li><strong> Assets<\/strong><\/li>\n<li><strong> Non-Current Assets<\/strong><\/li>\n<\/ol>\n<p><strong>(a)<\/strong> Fixed assets<\/p>\n<p><strong>(i)<\/strong> Tangible assets<\/p>\n<p><strong>(ii)<\/strong> Intangible assets<\/p>\n<p><strong>(iii)<\/strong> Capital work-in-progress<\/p>\n<p><strong>(iv)<\/strong> Intangible assets under development<\/p>\n<p><strong>(b)<\/strong> Non-current investments<\/p>\n<p><strong>(c)<\/strong> Deferred tax assets (net)<\/p>\n<p><strong>(d)<\/strong> Long-term loans and advances<\/p>\n<p><strong>(e)<\/strong> Other non-current assets<\/p>\n<ol>\n<li><strong> 1.a.i. Tangible assets<\/strong><\/li>\n<\/ol>\n<p>Tangible assets are the assets which have a physical existence. Assets that can be touched and seen are known as tangible assets.<\/p>\n<p>The company shall disclose the following in the notes to accounts as per Part<\/p>\n<h3><span class=\"ez-toc-section\" id=\"_I_of_the_Schedule_III\"><\/span><strong>\u00a0I of the Schedule III :<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>(a)<\/strong> Land;<\/p>\n<p><strong>(b)<\/strong> Buildings;<\/p>\n<p><strong>(c)<\/strong> Plant and Equipment;<\/p>\n<p><strong>(d)<\/strong> Furniture and Fixtures;<\/p>\n<p><strong>(e)<\/strong> Vehicles;<\/p>\n<p><strong>(f)<\/strong> Office equipment;<\/p>\n<p><strong>(g)<\/strong> Other (specify nature).<\/p>\n<h3><span class=\"ez-toc-section\" id=\"_II1aii_Intangible_Assets\"><\/span><strong>\u00a0<\/strong><strong>II.1.a.ii. Intangible Assets<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Intangible Assets are the assets which do not have a physical existence. These assets cannot be seen and touched.<\/p>\n<p><strong>(h)<\/strong> Classification shall be given as:<\/p>\n<p><strong>(a)<\/strong> Goodwill;<\/p>\n<p><strong>(b)<\/strong> Brands\/trademarks;<\/p>\n<p><strong>(c)<\/strong> Computer software;<\/p>\n<p><strong>(d)<\/strong> Mastheads and publishing titles;<\/p>\n<p><strong>(e)<\/strong> Mining rights;<\/p>\n<p><strong>(f)<\/strong> Copyrights, patents and other intellectual property rights, services and operating rights;<\/p>\n<p><strong>(g)<\/strong> Recipes, formulae, models, designs and prototypes;<\/p>\n<p><strong>(h)<\/strong> Licenses and franchise;<\/p>\n<p><strong>(i)<\/strong> Other (specify nature).<\/p>\n<ol>\n<li><strong> 1.a.iii. Capital Work-in-progress<\/strong><\/li>\n<\/ol>\n<p>It includes Fixed Assets which are under construction by the company itself.<\/p>\n<p><strong>II.1.a.iv. Intangible Assets under Development<\/strong><\/p>\n<p>Intangible Assets under development should be disclosed under this head provided they can be recognized based on the criteria laid down in AS-26. Examples are patents, computer software under development.<\/p>\n<p><strong>II.1.b. Non-Current Investments<\/strong><\/p>\n<p><strong>(i)<\/strong> Non-currents investments shall be classified as :<\/p>\n<ol>\n<li>Trade investments; and<\/li>\n<li>Other investments.<\/li>\n<\/ol>\n<h3><span class=\"ez-toc-section\" id=\"Trade_investments\"><\/span><strong>Trade investments<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>The \u201ctrade investment\u201d is an investment mad by a company in shares or debentures of another company, to promote the trade or business of the first company.<\/strong><\/p>\n<p>Non-Current Investments is further classified as :<\/p>\n<p><strong>(a)<\/strong> Investment in\u00a0 property;<\/p>\n<p><strong>(b)<\/strong> Investment in Equity Instruments;<\/p>\n<p><strong>(c)<\/strong> Investment in preference shares;<\/p>\n<p><strong>(d)<\/strong> Investment in Government or trust securities;<\/p>\n<p><strong>(e)<\/strong> Investment in debentures or bonds.<\/p>\n<p><strong>(f)<\/strong> Investment in Mutual Funds;<\/p>\n<p><strong>(g)<\/strong> Investment in partnership firms;<\/p>\n<p><strong>(h)<\/strong> Other non-current Investments (specify nature)<\/p>\n<p><strong>Note :<\/strong>If a debenture is to be redeemed partly within 12 months and balance after 12 months, the amount to be redeemed within 12 months should be disclosed as current and balance should be shown as non-current.<\/p>\n<ol>\n<li><strong> 1. d. Long-term loans &amp; advances<\/strong><\/li>\n<\/ol>\n<p>Loans and advances that are not expected to be received back in cash or in the form of an asset within 12 months are known as Long-Term loans and advances.<\/p>\n<p><strong>(i)<\/strong> Long-term loans and advances shall be classified as :<\/p>\n<p><strong>(a)<\/strong> Capital Advances;<\/p>\n<p><strong>(b)<\/strong> Security Deposits;<\/p>\n<p><strong>(c)<\/strong> Loans and advances to related parties (giving details thereof);<\/p>\n<p><strong>(d)<\/strong> Other loans and advances (specify nature)<\/p>\n<p>Capital advances are advances given for procurement of fixed assets which are non-current assets.<\/p>\n<p><strong>II.1.e. Other Non-Current Assets<\/strong><\/p>\n<p>Other non-current assets shall be classified as :<\/p>\n<p><strong>(i)<\/strong> Long Term Trade Receivables (including trade receivables on deferred credit terms);<\/p>\n<p><strong>(ii)<\/strong> Other (Specify nature)<\/p>\n<h3><span class=\"ez-toc-section\" id=\"A_receivable_shall_be_classified_as_%E2%80%98trade_receivable_if_it_is_in_respect_of_the_amount_due_on_account_of_goods_sold_or_services_rendered_in_the_normal_courses_of_business\"><\/span><strong>A receivable shall be classified as \u2018trade receivable\u2019 if it is in respect of the amount due on account of goods sold or services rendered in the normal courses of business.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Important: <\/strong>The Schedule III does not contain any specific disclosure requirement for the unamortized portion of expense items such as share issue expenses, ancillary borrowing cost and discount or premium relating to borrowings.<\/p>\n<p>We should disclose the unamortized portion of such expenses as \u201cUnamortized expenses\u201d, under the head \u2018Other current assets\u201d, depending on whether the amount will be amortized in the next 12 months or thereafter.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"I2_Current_Assets\"><\/span><strong>I.2. Current Assets<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ol>\n<li>An asset shall be classified as current when it satisfies any of the following criteria :<\/li>\n<\/ol>\n<p><strong>(a)<\/strong> it is expected to be realized in, or is intended for sale or consumption n the company\u2019s normal operating cycle; or<\/p>\n<p><strong>(b)<\/strong> it is held primarily for the purpose of being traded; or<\/p>\n<p><strong>(c)<\/strong> it is expected to be realized within twelve months after the reporting date; or<\/p>\n<p><strong>(d)<\/strong> it is cash or cash equivalent unless it is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting date.<\/p>\n<p>All other assets shall be classified as non-current.<\/p>\n<ol start=\"2\">\n<li>An operating cycle is the time between the acquisition of an asset for processing and their realization in cash or cash equivalents. Where the normal operating cycle cannot be identified, it is assumed to have a duration of 12 months.<\/li>\n<\/ol>\n<p><strong>II.2.a. Current Investments<\/strong><\/p>\n<p>Current Investments are the investments which are held to be converted into cash within, short period, i.e., within 12 months.<\/p>\n<p>Current investments shall be classified as :<\/p>\n<p><strong>(a)<\/strong> Investment in Equity Instruments;<\/p>\n<p><strong>(b)<\/strong> Investment in preference shares;<\/p>\n<p><strong>(c)<\/strong> Investment in Government or trust securities;<\/p>\n<p><strong>(d)<\/strong> Investment in debentures or bonds.<\/p>\n<p><strong>(e)<\/strong> Investment in Mutual Funds;<\/p>\n<p><strong>(f)<\/strong> Investment in partnership firms;<\/p>\n<p><strong>(g)<\/strong> Other Investments (specify nature)<\/p>\n<p><strong>II.2.b. Inventories<\/strong><\/p>\n<p>Inventories shall be classified as :<\/p>\n<p><strong>(a)<\/strong> Raw materials;<\/p>\n<p><strong>(b)<\/strong> Work-in-progress;<\/p>\n<p><strong>(c)<\/strong> Finished goods;<\/p>\n<p><strong>(d)<\/strong> Stock-in-trade (in respect of goods acquired for trading);<\/p>\n<p><strong>(e)<\/strong> Stores and spares;<\/p>\n<p><strong>(f)<\/strong> Loose tools;<\/p>\n<p><strong>(g)<\/strong> Other (specify nature)<\/p>\n<p>The heading Finished Goods should comprise of all finished goods other than those acquired of trading purposes.<\/p>\n<p><strong>II.2.c. Trade Receivables (current)<\/strong><\/p>\n<p>A receivable shall be classified as a \u2018trade receivable\u2019 if it is in respect of the amount due on account of goods sold or services rendered in the normal course of business.<\/p>\n<p>A trade receivable will be treated as current if it is likely to be realized within 12 months from the date of Balance Sheet or Operating cycle of the business.<\/p>\n<p><strong>II.2.d. Cash and Cash Equivalents<\/strong><\/p>\n<p>As defined in AS-3, Cash flow Statement, cash and cash equivalents are share term highly liquid investments that are readily convertible into known amount cash and which are subject to an insignificant risk of change in value.<\/p>\n<p><strong>(i)<\/strong> Cash and cash equivalents shall be classified as :<\/p>\n<p><strong>(a)<\/strong> Balances with banks;<\/p>\n<p><strong>(b)<\/strong> Cheques, drafts on hand,<\/p>\n<p><strong>(c)<\/strong> Cash in hand;<\/p>\n<p><strong>(d)<\/strong> Other (specify nature)<\/p>\n<p><strong>II.2.e. Short-term Loans and Advances<\/strong><\/p>\n<p><strong>(i)<\/strong> Short-term Loans and Advances shall be classified as :<\/p>\n<p><strong>(a)<\/strong> Loan and advances to related parties (giving details thereof):<\/p>\n<p><strong>(b)<\/strong> Other (specify nature)<\/p>\n<p><strong>(ii)<\/strong> Allowance for bad and doubtful loans and advances shall be disclosed under the relevant heads separately.<\/p>\n<p><strong>II.2.e.f. Other Current Assets (specify nature)<\/strong><\/p>\n<p>This is an all-inclusive heading, which incorporates current assets that do not fit into any other asset, categories e.g. Unbilled Revenue, Unamortized Premium on Forward Contracts, prepaid expenses, dividend receivable, advance taxes etc.<\/p>\n<p>for example-<\/p>\n<table style=\"height: 332px;\" width=\"829\">\n<tbody>\n<tr>\n<td style=\"text-align: center;\">\u00a0Particulars<\/td>\n<td style=\"text-align: center;\">Main heading<\/td>\n<td style=\"text-align: center;\">Sub heading<\/td>\n<\/tr>\n<tr>\n<td>current investments<\/td>\n<td>assets<\/td>\n<td>cash and cash equivalents<\/td>\n<\/tr>\n<tr>\n<td>deferred tax liability<\/td>\n<td>equity and liability<\/td>\n<td>\u00a0non current liability<\/td>\n<\/tr>\n<tr>\n<td>plant and equipment<\/td>\n<td>assets<\/td>\n<td>\u00a0non current assets<\/td>\n<\/tr>\n<tr>\n<td>goodwill<\/td>\n<td>assets<\/td>\n<td>non current assets<\/td>\n<\/tr>\n<tr>\n<td>capital work in progess<\/td>\n<td>assets<\/td>\n<td>non current assets<\/td>\n<\/tr>\n<tr>\n<td>trademark<\/td>\n<td>assets<\/td>\n<td>non current assets<\/td>\n<\/tr>\n<tr>\n<td>deferred tax assets<\/td>\n<td>assets<\/td>\n<td>non current assets<\/td>\n<\/tr>\n<tr>\n<td>loose tools<\/td>\n<td>assets<\/td>\n<td>\u00a0current assets<\/td>\n<\/tr>\n<tr>\n<td>security deposits<\/td>\n<td>assets<\/td>\n<td>non current investments<\/td>\n<\/tr>\n<tr>\n<td>stock in trade<\/td>\n<td>assets<\/td>\n<td>current assets<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>Statement of Profit and Loss<\/strong><\/p>\n<ul>\n<li><strong>Statement of Profit and Loss: <\/strong>It is a statement prepared to show the result of business operations during an accounting period.<\/li>\n<\/ul>\n<p>It shows the operating performance of a company during the accounting period.<\/p>\n<p>A Statement of Profit &amp; Loss of a Company is prepared as per the format prescribed in Part II of Schedule III of the Companies Act, 2013.<\/p>\n<p>for example &#8211;<\/p>\n<p>the main and sub headings for the following are<\/p>\n<p><strong>PART II &#8211;\u00a0 FORM OF STATEMENT OF PROFIT AND LOSS<\/strong><\/p>\n<p><strong>Statement of Profit &amp; Loss <\/strong><\/p>\n<p>For the year ended<\/p>\n<p>(Rs. In\u2026\u2026\u2026)<\/p>\n<p><strong>Revenue from Operations : <\/strong>It refers to the revenue earned by the company from its business operations.<strong>CONTENTS OF STATEMENT OF PROFIT AND LOSS<\/strong><\/p>\n<p>Fox example :<\/p>\n<p><strong>(1)<\/strong> Revenue from sale of products or services<\/p>\n<p><strong>(2)<\/strong> Revenue from sale of scrap.<\/p>\n<ol start=\"2\">\n<li><strong> Other Income : <\/strong>It refers to the revenue earned by the company from activities other than its business operations.<\/li>\n<\/ol>\n<p>For example :<\/p>\n<p><strong>(i)<\/strong> Interest Income<\/p>\n<p><strong>(ii) <\/strong>Dividend Income<\/p>\n<p><strong>(iii)<\/strong> Profit from sale of investments or fixed assets.<\/p>\n<p><strong>(iv)<\/strong> Bad debts recovered<\/p>\n<p><strong>(v)<\/strong> Excess provisions written back etc.<\/p>\n<ol start=\"3\">\n<li><strong> Cost of Material Consumed:<\/strong><\/li>\n<\/ol>\n<p>= Opening inventory of Raw Materials +Net Purchases of Raw Materials \u2013 Closing Inventory of Raw Materials.<\/p>\n<p><strong>Note: <\/strong>Inventory of Work-in-progress, Finished goods and Stock-in-trade are no considered for calculating cost of material consumed.<\/p>\n<ol start=\"4\">\n<li><strong> Purchase of Stock-in-Trade: <\/strong>It includes goods purchased for resale purpose in same form i.e., without any further processing.<\/li>\n<li><strong> Changes in Inventories of work-in-progress, finished goods and stock-in-trade.<\/strong><\/li>\n<\/ol>\n<p><strong>= <\/strong>Opening Inventories \u2013 Closing Inventories<\/p>\n<ol start=\"6\">\n<li><strong> Employees Benefit Expenses : <\/strong>It includes all expenses incurred by the company on its employees such as :<\/li>\n<\/ol>\n<p><strong>(i)<\/strong> Wages, salaries, bonus etc.<\/p>\n<p><strong>(ii)<\/strong> Leave encashment, staff welfare expenses, etc.<\/p>\n<p><strong>(iii)<\/strong> Contribution to employees provident fund and other funds.<\/p>\n<ol start=\"7\">\n<li><strong> Finance Cost: <\/strong>It means cost incurred by a company on its borrowings i.e., debentures issued or loan taken by it.<\/li>\n<\/ol>\n<p>Borrowing costs such as loan processing fees are also included\u00a0 in finance cost.<\/p>\n<ol start=\"8\">\n<li><strong> Depreciation and Amortisation expenses : <\/strong>Depreciation is the cost of tangible fixed assets written of over their useful life such as on\u00a0 building, plant &amp; machinery etc.<\/li>\n<\/ol>\n<p>Amortisation is the cost of intangible fixed assets written off over their useful life such as on patents, trademarks, computer software etc.<\/p>\n<ol start=\"9\">\n<li><strong> Other Expenses: <\/strong>Expenses that are not shown in any of the above mentioned heads are shown here.<\/li>\n<\/ol>\n<p>For example:<\/p>\n<p><strong>(i)<\/strong> Carriage Inwards\/Outwards<\/p>\n<p><strong>(ii)<\/strong> Audit Fees<\/p>\n<p><strong>(iii)<\/strong> Insurance charges<\/p>\n<p><strong>(iv)<\/strong> Rates &amp; taxes<\/p>\n<p><strong>(v)<\/strong> Bank charges<\/p>\n<p><strong>(vi)<\/strong> Advertisement expenses<\/p>\n<p><strong>(vii)<\/strong> Administrative expenses<\/p>\n<p><strong>(viii)<\/strong> Selling and distribution expenses<\/p>\n<p><strong>(ix)<\/strong> Power and electricity expenses]\n<p><strong>(x)<\/strong> Repairs of Fixed Assets etc.<\/p>\n<p><strong>(xi)<\/strong> Rent<\/p>\n<p><strong>(xii)<\/strong> Telephone expenses<\/p>\n<p><strong>(xiii)<\/strong> Sundry expenses<\/p>\n<table width=\"100%\">\n<tbody>\n<tr>\n<td>pariculars<\/td>\n<td>main heading<\/td>\n<td>sub heading<\/td>\n<\/tr>\n<tr>\n<td>audit fees<\/td>\n<td>expenses<\/td>\n<td>other expenses<\/td>\n<\/tr>\n<tr>\n<td>wages salary bonus<\/td>\n<td>expenses<\/td>\n<td>employees benefit expenses<\/td>\n<\/tr>\n<tr>\n<td>cost of raw material<\/td>\n<td>expenses<\/td>\n<td>cost of production<\/td>\n<\/tr>\n<tr>\n<td>interest income<\/td>\n<td>income<\/td>\n<td>other income<\/td>\n<\/tr>\n<tr>\n<td>bad debts recovered<\/td>\n<td>income<\/td>\n<td>other income<\/td>\n<\/tr>\n<tr>\n<td>advertisement expenses<\/td>\n<td>expenses<\/td>\n<td>other expenses<\/td>\n<\/tr>\n<tr>\n<td>contribution to EPF<\/td>\n<td>expenses<\/td>\n<td>employees benefit expenses<\/td>\n<\/tr>\n<tr>\n<td>sale of scrap<\/td>\n<td>income<\/td>\n<td>revenue from operations<\/td>\n<\/tr>\n<tr>\n<td>power and electricity<\/td>\n<td>expenses<\/td>\n<td>other expenses<\/td>\n<\/tr>\n<tr>\n<td>insurance<\/td>\n<td>expenses<\/td>\n<td>other expenses<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"CBSE_Class_12_Revision_Notes_and_Key_Points\"><\/span><strong>CBSE Class 12 Revision Notes and Key Points<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Financial Statements Of A Company class 12 Notes Accountancy. CBSE quick revision note for class-12 Chemistry Physics Math\u2019s, Accountancy and other subject are very helpful to revise the whole syllabus during exam days. The revision notes covers all important formulas and concepts given in the chapter. Even if you wish to have an overview of a chapter, quick revision notes are here to do if for you. These notes will certainly save your time during stressful exam days.<\/p>\n<ul>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-physics\/1251\/cbse-revision-notes\/7\/\">Physics<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-chemistry\/1267\/cbse-revision-notes\/7\/\">Chemistry<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-mathematics\/1284\/cbse-revision-notes\/7\/\">Mathematics<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-biology\/1298\/cbse-revision-notes\/7\/\">Biology<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-accountancy\/1315\/cbse-revision-notes\/7\/\">Accountancy<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-economics\/1327\/cbse-revision-notes\/7\/\">Economics<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-business-studies\/1727\/cbse-revision-notes\/7\/\">Business Studies<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-computer-science\/1851\/cbse-revision-notes\/7\/\">Computer Science<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-informatics-practices\/1873\/cbse-revision-notes\/7\/\">Informatics Practices<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-english-core\/1855\/cbse-revision-notes\/7\/\">English Core<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-history\/1869\/cbse-revision-notes\/7\/\">History<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-physical-education\/1877\/cbse-revision-notes\/7\/\">Physical Education<\/a><\/li>\n<\/ul>\n<p>To download Financial Statements Of A Company class 12 Notes Accountancy, sample paper for class 12 Physics, Chemistry, Biology, History, Political Science, Economics, Geography, Computer Science, Home Science, Accountancy, Business Studies and Home Science; do check myCBSEguide app or website. myCBSEguide provides sample papers with solution, test papers for chapter-wise practice, NCERT Financial Statements Of A\u00a0Company\u00a0, NCERT Exemplar Financial Statements Of A\u00a0Company\u00a0, quick revision notes for ready reference, CBSE guess papers and CBSE important question papers. Sample Paper all are made available through\u00a0<a href=\"https:\/\/play.google.com\/store\/apps\/details?id=in.techchefs.MyCBSEGuide&amp;referrer=utm_source%3Dmycbse_bottom%26utm_medium%3Dtext%26utm_campaign%3Dmycbseads\"><strong>the best app for CBSE students<\/strong><\/a>\u00a0and myCBSEguide website.<\/p>\n<ul>\n<li class=\"entry-title\"><a href=\"https:\/\/mycbseguide.com\/blog\/accounting-partnership-firms-fundamentals-class-12-notes-accountancy\/\">Accounting for partnership firms fundamentals class 12 Notes Accountancy<\/a><\/li>\n<li class=\"entry-title\"><a href=\"https:\/\/mycbseguide.com\/blog\/goodwill-nature-valuation-class-12-notes-accountancy\/\">Goodwill Nature And Valuation class 12 Notes Accountancy<\/a><\/li>\n<li class=\"entry-title\"><a href=\"https:\/\/mycbseguide.com\/blog\/reconstitution-partnership-class-12-notes-accountancy\/\">Reconstitution of Partnership class 12 Notes Accountancy<\/a><\/li>\n<li class=\"entry-title\"><a href=\"https:\/\/mycbseguide.com\/blog\/admission-partner-class-12-notes-accountancy\/\">Admission of A Partner class 12 Notes Accountancy<\/a><\/li>\n<li class=\"entry-title\"><a href=\"https:\/\/mycbseguide.com\/blog\/retirement-death-partner-class-12-notes-accountancy\/\">Retirement or Death of a partner class 12 Notes Accountancy<\/a><\/li>\n<li class=\"entry-title\"><a href=\"https:\/\/mycbseguide.com\/blog\/dissolution-partnership-firm-class-12-notes-accountancy\/\">Dissolution Of a Partnership Firm class 12 Notes Accountancy<\/a><\/li>\n<li class=\"entry-title\"><a href=\"https:\/\/mycbseguide.com\/blog\/accounting-share-capital-class-12-notes-accountancy\/\">Accounting For Share Capital class 12 Notes Accountancy<\/a><\/li>\n<li class=\"entry-title\"><a href=\"https:\/\/mycbseguide.com\/blog\/accounting-debentures-class-12-notes-accountancy\/\">Accounting For Debentures class 12 Notes Accountancy<\/a><\/li>\n<li class=\"entry-title\"><a href=\"https:\/\/mycbseguide.com\/blog\/company-accounts-redemption-debentures-class-12-notes-accountancy\/\">Company Accounts \u2013 Redemption of Debentures class 12 Notes Accountancy<\/a><\/li>\n<li class=\"entry-title\"><a href=\"https:\/\/mycbseguide.com\/blog\/financial-statement-analysis-class-12-notes-accountancy\/\">Financial statement analysis class 12 Notes Accountancy<\/a><\/li>\n<li class=\"entry-title\"><a href=\"https:\/\/mycbseguide.com\/blog\/tools-financial-statement-analysis-class-12-notes-accountancy\/\">Tools for financial statement analysis class 12 Notes Accountancy<\/a><\/li>\n<li class=\"entry-title\"><a href=\"https:\/\/mycbseguide.com\/blog\/accounting-ratios-class-12-notes-accountancy\/\">Accounting Ratios class 12 Notes Accountancy<\/a><\/li>\n<li class=\"entry-title\"><a href=\"https:\/\/mycbseguide.com\/blog\/cash-flow-statement-class-12-notes-accountancy\/\">Cash flow statement class 12 Notes Accountancy<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Financial Statements Of A Company class 12 Notes Accountancy in PDF are available for free download in myCBSEguide mobile app. The best app for CBSE students now provides accounting for partnership firm\u2019s fundamentals class 12 Notes latest chapter wise notes for quick preparation of CBSE board exams and school-based annual examinations. Class 12 Accountancy notes &#8230; <a title=\"Financial Statements Of A Company Class 12 Notes Accountancy\" class=\"read-more\" href=\"https:\/\/mycbseguide.com\/blog\/financial-statements-company-class-12-notes-accountancy\/\" aria-label=\"More on Financial Statements Of A Company Class 12 Notes Accountancy\">Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":9785,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,456],"tags":[620,457,150,640,426,240],"class_list":["post-9518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cbse-class-12","category-revision-notes","tag-accountancy-notes","tag-cbse-notes","tag-cbse-notes-and-key-points","tag-financial-statements-of-a-company","tag-quick-revision","tag-quick-revision-notes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - 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