Class 12 Accountancy - Company Accounts and Analysis of Financial Statements - Chapter Financial Statements of a Company NCERT Solutions | State the meaning of financial statement

How will you disclose the following items in the Balance Sheet of a company;
(i) Loose tools
(ii) Uncalled liability on partly paid-up shares
(iii) Debentures redemption reserve
(iv) Mastheads and publishing titles                                                                        (v) 10% debentures
(vi) Proposed dividend
(vii) Share forfeited account
(viii) Capital redemtion reserve
(ix) Mining rights
(x) Work-in-progress

State the importance of financial statements to
(i) shareholders
(ii) creditors
(iii) government
(iv) investors

Prepare the format of balance sheet and explain the various elements of balance sheet.

Explain the process of preparing income statement and balance sheet.

Prepare the format of statement of profit and loss and explain its items.

Explain how financial statements are useful to the various parties who are interested in the affairs of an undertaking?

List any three objectives of analysing financial statements?

Explain the limitations of financial statements.

Explain the nature of the financial statements.

Explain in detail about the significance of the financial statements.

What do you mean by Ratio Analysis?

List the techniques of Financial Statement Analysis.

What does a Bearer Debenture mean?

What are various types of ratios?

Distinguish between Vertical and Horizontal Analysis of financial data.

State the meaning of ‘Debentures issued as a collateral security’.

What relationships will be established to study?
(a) Inventory Turnover (b) Debtor Turnover
(c) Payables Turnover (d) Working Capital Turnover

State the meaning of Analysis and Interpretation.

What is meant by ‘Issue of debentures for consideration other than cash’?

Describe the meaning of ‘Debenture Issued as Collateral Securities’. What accounting treatment is given to the issue of debentures in the books of accounts?

Explain the different types of debentures?

Name the head under which ‘discount on issue of debentures’ appears in the balance sheet of a company.

What is ‘Capital Reserve’?

Can the company purchase its own debentures?

What is meant by ‘Premium on Redemption of Debentures’?

What is meant by ‘Issue of debenture at discount and redeemable at premium?

What are Comparative Financial Statements?

Explain the guidelines of SEBI for creating Debenture Redemption Reserve.

What is the importance of comparative statements? Illustrate youranswer with particular reference to comparative income statement.