Illustrative Format of Condensed Financial Statements :

This illustration which does not form part of the Accounting Standard, provides illustrative format of condensed financial statements. Its purpose is to illustrate the application of the Accounting Standard to assist in clarifying its meaning.

Paragraph 11 of the Accounting Standard provides that if an enterprise prepares and presents a set of condensed financial statements in its interim financial report, those condensed statements should include, at a minimum, each of the headings and sub-headings that were included in its most recent annual financial statements and the selected explanatory notes as required by the Standard. Additional line items or notes should be included if their omission would make the condensed interim financial statements misleading .

The purpose of the following illustrative format is primarily to illustrate the requirements of paragraph 11 of the Standard. It may be noted that these illustrative formats are subject to the requirements laid down in the Standard including those of paragraph 11.

Illustrative Format of Condensed Financial Statements for an enterprise other than a bank

(A) Condensed Balance Sheet

	Figures at the end of the current interim period	Figures at the end of the previous accounting year
I. Sources of Funds
1. Capital
2. Reserve and surplus
3. Minority interests (in case of consolidated financial statements)
4. Loan funds: (a) Secured loans (b) Unsecured loans
Total
II. Application of Funds
1. Fixed assets (a) Tangible fixed assets (b) Intangible fixed assets
2. Investments
3. Current assets, loans and advances (a) Inventories (b) Sundry debtors (c) Cash and bank balances (d) Loans and advances (e) Others
Less: Current liabilities and provisions (a) Liabilities (b) Provisions
Net Current assets
4. Miscellaneous expenditure to the extent not written off or adjusted
5. Profit and loss account
Total

(B) Condensed Statement of Profit and Loss

	Three months ended	Corresponding three months of the previous accounting year	Year-to-date figures for current period	Year-to-date figures for  previous period
1. Turnover
2. Other Income
Total
3. Changes in inventories of finished goods and work in progress
4. Cost of raw materials and consumables used
5. Salaries, wages and other staff costs
6. Other expenses
7. Interest
8. Depreciation and amortisations
Total
9. Profit or loss from ordinary activities before tax
10. Extraordinary items 13. Profit or loss after tax 14. Minority Interests (in case of consolidated financial statements)
11. Profit or loss before tax
12. Tax expense
13. Profit or loss after tax
14. Minority Interests (in case of consolidated financial statements)
15. Net profit or loss for the period
Earnings Per Share 1. Basic Earnings Per Share 2. Diluted Earnings Per Share

 

(C) Condensed Cash Flow Statement

	Year-to-date figures for the current period	Year-to-date figures for the previous year
1. Cash flows from operating activities
2. Cash flows from investing activities
3. Cash flows from financing activities
4. Net increase/(decrease) in cash and cash equivalents
5. Cash and cash equivalents at beginning of period
6. Cash and cash equivalents at end of period

 

(D) Selected Explanatory Notes

This part should contain selected explanatory notes as required by paragraph 16 of this Standard.