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  • MIB, Semester 1 Accounting and Finance Navneet Saxena: Amity International Business School

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    Diptayan Baidya
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    The document discusses the key aspects of a balance sheet, including: - A balance sheet shows the assets, liabilities, and capital of a business at a particular point in time. It balances the debits and credits of ledger accounts. - Assets are listed as current assets, investments, tangible fixed assets, and intangible fixed assets. Liabilities include current and long-term liabilities as well as capital. - Balance sheets are prepared to determine the financial position and solvency of a business by showing the nature and value of assets compared to the nature and amount of liabilities.

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    86459 Balance Sheet

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    The document discusses the key aspects of a balance sheet, including: - A balance sheet shows the assets, liabilities, and capital of a business at a particular point in time. It balances the debits and credits of ledger accounts. - Assets are listed as current assets, investments, tangible fixed assets, and intangible fixed assets. Liabilities include current and long-term liabilities as well as capital. - Balance sheets are prepared to determine the financial position and solvency of a business by showing the nature and value of assets compared to the nature and amount of liabilities.

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    Attribution Non-Commercial (BY-NC)
    Скачайте в формате PPT, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    26 просмотров12 страниц

    MIB, Semester 1 Accounting and Finance Navneet Saxena: Amity International Business School

    Загружено:

    Diptayan Baidya
    The document discusses the key aspects of a balance sheet, including: - A balance sheet shows the assets, liabilities, and capital of a business at a particular point in time. It balances the debits and credits of ledger accounts. - Assets are listed as current assets, investments, tangible fixed assets, and intangible fixed assets. Liabilities include current and long-term liabilities as well as capital. - Balance sheets are prepared to determine the financial position and solvency of a business by showing the nature and value of assets compared to the nature and amount of liabilities.

    Авторское право:

    Attribution Non-Commercial (BY-NC)
    Скачайте в формате PPT, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    из 12

    Amity International Business School

    AIBS
    MIB, Semester 1 Accounting and Finance Navneet Saxena

    Objective
    Balance Sheet

    Amity International Business School

    In this session we will learn about

    Balance Sheet

    Amity International Business School

    A Balance Sheet is one of the financial statements A Balance Sheet is a statement of assets and liabilities of an enterprise at a given date It is called a Balance Sheet because it is a sheet of balances of those ledger accounts which have not been closed till the preparation of the Trading and Profit and Loss Account

    Characteristics

    Amity International Business School

    A Balance Sheet is only a statement and not an account It has no debit side or credit side The headings of the two sides are Assets and Liabilities A Balance Sheet is prepared at a particular point of time and not for a particular period

    Characteristics

    Amity International Business School

    The information contained in a Balance Sheet is true only at the particular point of time at which it is prepared A Balance Sheet is a summary of balances of those ledger accounts which have not been closed by transfer to the Trading and Profit and Loss Account A Balance Sheet shows the nature and value of assets and the nature and the amount of liabilities at a given date

    Need for Preparation of Balance Sheet

    Amity International Business School

    To ascertain the nature and value of assets of a business To ascertain the nature and amount of liabilities of a business To find out the financial solvency of an enterprise
    An enterprise is considered to be solvent if its assets exceed its external liabilities

    Contents of Balance Sheet


    Assets Current Assets Investments Fixed Assets Tangible Fixed Assets Intangible Fixed Assets

    Amity International Business School

    Contents of Balance Sheet


    Liabilities Side Liabilities Current Liability Long-term Liability Capital

    Amity International Business School

    Grouping and Marshalling of Assets and Liabilities

    Amity International Business School

    Grouping putting together items of a similar nature under a common heading Marshalling order in which the various assets and liabilities are shown in the Balance Sheet The assets and liabilities can be shown either in the
    Order of liquidity Order of permanency

    Amity International Business School

    Recap
    Balance Sheet

    Amity International Business School

    In this session we learnt about

    Next Session
    Final Accounts

    Amity International Business School

    In the next session we will learn about

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