Financial Statement

Chapter 1: Financial Statements as per Companies Act 2013

Introduction

• Financial Statement
• Requirement of Financial Statement as per Companies Act
• Schedule III of Companies Act, 2013

Format of FS

• Format of Financial Statement
• Traditionally, financial statements were drawn based on own requirements. However, once a company is formed, it has to follow the format as per Schedule III of the Companies Act 2013.
• Various formats are given below:
• Balance Sheet
• Profit & Loss Account

Instructions

• Instructions for Preparation of Financial Statement
• General Instructions
• Disclosure of Items in Notes (Balance Sheet Items)
• General Instructions for Liabilities

Case Study 1

Case Study 2

Assignment 1

Assignment 2

Chapter 2: MIS & Analytical Tools

Introduction

• MIS or Management Information System
• Role of MIS
• Classification of MIS Reports

Analytical Tools

• MIS Analytical Tools
• Arithmetic Analysis (Vertical Analysis)
• Gross Profit (GP) Analysis

Ratio Analysis

• Ratio Analysis
• Gross Profit (GP) Ratio
• Net Profit Ratio
• Debtor Turnover Ratio
• Inventory Turnover Ratio
• Debt to Equity Ratio
• Current Ratio

Case Study 1

Case Study 2

Assignment 1

Assignment 2

Chapter 3: Product Profit Analysis

Introduction

• Product Profit Analysis
• Why to use product profitability analysis?

Steps to find Profit

• Steps to find the accurate profit of a particular product

Case Study

Assignment

Chapter 4: Budget Vs. Actual

Introduction

• Budget V/s Actuals

Prepare Budgeted FS

• Budgeted Financial Statement

Budgeted Vs Actual Variance

• Budget vs Actual Variance
• Types of Actual vs Budget Variances?

Case Study

Assignment