Tag Archives | Balance Sheet

Format of Balance Sheet | Accounting

After reading this article you will learn about the format of balance sheet. Balance sheet reflects financial position of an entity. IAS 1 has used the term Statement of Financial Position in place of Balance Sheet. IFRSs format focuses on classified balance sheet based on current non-current classification. Balance sheet presents assets, liabilities and equity […]

General Instructions for Preparation of Balance Sheet

In this article we will discuss about the General Instructions for Preparation of Balance Sheet. A. Current Assets: 1. An asset shall be classified as current when it satisfies any of the following criteria; (a) It is expected to be realized in, or is intended for sale or consumption in, the company’s normal operating cycle; […]

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