Article Writing

Balance sheet

What is the balance sheet format?

In the financial accounting , a balance sheet is a summary of the financial balances of an individual or organization ,whether it be a sole proprietorship ,a business partnership , a corporation ,private limited company or other organization such as government or not-for -profit entity .

 

Importance of Balance sheet

The balance sheet provides a picture  of the financial health of a business at a given moment in time usually the end of a month or financial year. It can tell you if you owe more money that what you currently have, the current value of your assets and the overall values of your business.

 

Sample format of Balance sheet

 

MCA compliance requirement

As a part of annual e-filling , companies incorporated under the companies act -1956 are required to e file the following documents with the registrar of companies (ROC) compliance certificate :Form 66 to be filled by companies having paid up capital of Rs.10 lakh to Rs.5  crore.

 

Detailed note on sections and sub-sections

A section is a distinct part or chunk of a body of material ., sections and subsections may be one or more paragraphs long .the material in a sections fits together under a topic , which is usually identified by a subject heading or subheading .