Making SYBAF FA simple!

Well FA in 4^th Sem, is simple to understand and solve, depends on the way how you learn.

Here are some shortcuts which will obviously Make your life Easy.

Lets understand a bit of Balance sheet, Before we talk about its format.

Eg: Lets understand balance sheet on the basis of Indian Eg.

We will call balance sheet as “HISAB” which normally my mom demands from me every evening.

Now she will ask me for Hisab, only when she knew that I had money + she had given me money.

So my money is obviously “Mera Paisa” and the money she gave me is “Udhar from Mom”

(Similarly a company Calls its own money as SHAREHOLDERS FUND)

(& Company calls” UDHAR FROM MOM” as NON CURRENT LIABILITIES)

Story Continues. .

Now of the total money I had today that Is Rs. 400(100 Mine & 300 Udhar), I Bought myself,

1. Skull candy(1^st Copy;)) for Rs. 130.
2. I Gave my friend (Dolly) Money for she will return me in next 2 years 50/-
3. Remaining Rs. 220/- is still with me.

Now for the  Skull candy Head sets I Bought Balance sheet calls it Non current assets (just for understanding).

The Udhar I Gave to Dolly is called Long term loans and advances       

And the Cash that is Balance with me called Cash and cash equivalent

Basically balance sheet is just like HISAB!!, only Name is different, Meaning to wahi hai.

• The format of Balance Sheet in FINAL

1. Equity and liabilities
2. Shareholders funds
3. Share capital
4. Reserves and surplus
5. Non current liabilities
6. Long term borrowings

1. Current liabilities {STOP}
2. Short term borrowings
3. Trade payables
4. Other current liabilities
5. Short term provisions

1. Assets
2. Non current assets {FILO}
3. Fixed assets
4. Non current Investments
5. Long term loans and advances
6. Other non current assets

1. Current assets {ITC SO}
2. Inventories
3. Trade receivables
4. Cash and cash equivalent
5. Short term loans and advances
6. Other current assets

Remember the Letters in BOLD, You’ll never make mistake in the Format then.

Hope this Helps to Kill Company Final A/c Format.

–Prepared by Iyer Commerce Classes to assist SYBAF students