What is a Balance Sheet Audit? Verification of all items included in the balance sheet combined with the examination of related income and expenses accounts is known as
The information to be disclosed with respect to each item in balance sheet is discussed below. Share Capital Share capital should be shown under the following heads in
Liabilities of the Company Liabilities are shown in the left side of the Balance Sheet. If Balance Sheet is prepared vertically, liabilities are shown under assets. The Companies
Details of Contingent Liability to be shown in Balance Sheet As per Schedule VI the following liabilities should be shown as footnotes in balance sheet 1. Claims Against
Items of Revenues and Gains to be disclosed in balance sheet The following are the items of incomes and gains, which should be shown separately: 1. Turnover: Under
Items of Expenses and Losses to be disclosed in Balance Sheet The expenses should be shown under suitable heads to the extent possible. Any expense, which exceeds 1%