Financial Statements
Tax Purpose
I. EQUITY AND
LIABILITIES
1 Shareholder's
Funds
(a) Share Capital
Dr. Varadraj Bapat
- -
(b) Reserves and Surplus
-
-
(c) Money received against
Share Warrants
-
-
-
-
(c) Other Long Term Liabilities
-
-
(d) Long-Term Provisions
TOTAL
- -
-
-
(iv) Intangible assets under
development
-
-
(b) Inventories
- -
Liabilities
Owners Fund
Examples
Cash
Land and Building
Investments
Machinery
Dr. Varadraj Bapat
An asset is a resource controlled by
the enterprise as a result of past
events from which future economic
benefits are expected to flow to the
enterprise.
Fixed
Assets
Tangible Intangible
Dr. Varadraj Bapat
In-
Tangible
tangible
Land &
Goodwill
Building
Trade-
Machinery
Marks
Furniture Patents
Dr. Varadraj Bapat
Current Assets
Monetary Non-Monetary
Debtors RM Stock
Bank FG Stock
Therefore,
Owners Fund= Assets Liabilities
Earnings
Dr. Varadraj Bapat
Balance Sheet Equation
A=L+O
1. Company borrows from bank
- - (- Bank, - Reserves)
+, (+ Equity Capital, -
- Reserves)
300000 300000
300000 300000
330000 330000