Balance Sheet


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).

To ensure uniformity in the presentation of the balance sheet, the format for the same has been prescribed in the Schedule III of the ...

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