Balance Sheet 6

image CHAPTER OBJECTIVES

This chapter will help the readers to:

  • Understand the contents of balance sheet in depth.
  • Differentiate between equity and liabilities, current liabilities and non-current liabilities, current assets and non-current assets.
  • Appreciate the issues involved in valuation of assets and liabilities in the balance sheet.
  • Appreciate the impact of relevant accounting standards on the balance sheet—Ind AS 40 (Investment Property), Ind AS 2 (Inventories), Ind AS 109 (Financial Instruments) Ind AS 7 (Statement of Cash Flow) and Ind AS 113 (Fair Value Measurement).

6.1INTRODUCTION

To ensure uniformity in the ...

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