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Format of the Balance Sheet
It shows the financial position of the company as at the end of a given financial period. The standard requires that assets and liabilities should be classified between current and non-current portions.Currently, the standard requires the first part of the balance sheet to show the total assets (i.e. non-current assets + current assets) and the second part of the balance sheet to show equity and liabilities. Equity is the shareholders funds while liabilities are the total of non-current and current liabilities.The format of the balance sheet is given as follows:
ABC LTD
BALANCE SHEET AS AT 31/12/
£
Property, plant and equipment
x
Goodwill
Other intangible assets
Investment Longterm
Inventory
Accounts receivables and prepayments
Short-term investment
Cash at bank and in hand
TOTAL ASSETS
xx
Preference share capital
Ordinary share capital
Share premium
Revaluation reserve
General reserve
Retained profits
Shareholders funds
Loan stock/debentures
Redeemable preference shares
Deferred tax
Other long-term provisions
Bank overdraft
Trade and other payables (accruals)
Current tax (tax payable)
Current portion of loan stock
Prepared dividends (and shares or preference shares)
TOTAL EQUITY AND LIABILITY
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