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TMI BlogRegarding amendments in Schedule III to the Companies Act, 2013X X X X Extracts X X X X X X X X Extracts X X X X ..... ral Instructions for preparation of Balance Sheet , in paragraph 6,- (I) under the heading B. Reserves and Surplus , in item (i), in sub- item (c), the word Reserve shall be omitted; (II) in clause W., for the words fixed assets , the words Property, Plant and Equipment shall be substituted; (b) in Division II, in Part I- Balance Sheet,- (i) under the heading Equity and Liabilities , for the words Trade payables at both the places where they occur, the following shall be substituted, namely:- Trade Payables:- (A) total outstanding dues of micro enterprises and small enterprises; and (B) total outstanding dues of creditors other than micro enterprises and small enterprises. ; (ii) under the heading Statement of Changes in Equity , under sub-heading B. Other Equity ,- (A) for the words Securities Premium Reserve , the words Securities Premium shall be substituted; (B) The Note shall be renumbered as clause (i) thereof and after clause (i) as so renumbered, the following clause shall be inserted, namely:- (ii) A description of the purposes of each reserve within equity shall be disclosed in the Notes. ; (iii) in the Notes , under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ccounting year; (c) the amount of interest due and payable for the period of delay in making payment (which has been paid but beyond the appointed day during the year) but without adding the interest specified under the Micro, Small and Medium Enterprises Development Act, 2006; (d) the amount of interest accrued and remaining unpaid at the end of each accounting year; and (e) the amount of further interest remaining due and payable even in the succeeding years, until such date when the interest dues above are actually paid to the small enterprise, for the purpose of disallowance of a deductible expenditure under section 23 of the Micro, Small and Medium Enterprises Development Act, 2006. Explanation.- The terms appointed day , buyer , enterprise , micro enterprise , small enterprise and supplier , shall have the same meaning as assigned to them under clauses (b), (d), (e), (h), (m) and (n) respectively of section 2 of the Micro, Small and Medium Enterprises Development Act, 2006. . (B) in paragraph 9, after the words For instance, , the words plain vanilla shall be inserted; (c) after Division II and the entries relating thereto, the following shall be i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed to any related information in the Notes. In preparing the Financial Statements including the Notes, a balance shall be maintained between providing excessive details that may not assist users of Financial Statements and not providing important information as a result of too much aggregation. 5. Depending upon the total income of the NBFC, the figures appearing in the Financial Statements shall be rounded off as below: Total Income Rounding off (i) less than one hundred crore rupees To the nearest hundreds, thousands, lakhs or millions, or decimals thereof. (ii) one hundred crore rupees or more To the nearest, lakhs, millions or crores, or decimals thereof. Once a unit of measurement is used, it should be used uniformly in the Financial Statements. 6. Financial Statements shall contain the corresponding amounts (comparatives) for the immediately preceding reporting period for all items shown in the Financial Statements including Notes except in the case of first Financial Statements after incorporation. 7. Financial Statements shall disclos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ASSETS (1) Financial Assets (a) Cash and cash equivalents (b) Bank Balance other than (a) above (c) Derivative financial instruments (d) Receivables (I) Trade Receivables (II) Other Receivables (e) Loans (f) Investments (g) Other Financial assets (to be specified) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (ii) total outstanding dues of creditors other than micro enterprises and small enterprises (II) Other Payables (i) total outstanding dues of micro enterprises and small enterprises (ii) total outstanding dues of creditors other than micro enterprises and small enterprises (c) Debt Securities (d) Borrowings (Other than Debt Securities) (e) Deposits (f) Subordinated Liabilities (g) Other financial liabilities(to be speci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y received against share warrants Total Statutory Reserve Capital Reserve Securities Premium Other Reserves (specify nature) Retained Earnings Balance at the beginning of the reporting period Changes in accounting policy or prior period errors Restated balance at the beginning of the reporting period Total Comprehensive Income for the year Dividends ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amounts Fair Value Assets Fair Value - Liabilities (i)Currency derivatives -Spot and forwards -Currency Futures -Currency swaps -Options purchased -Options sold (written) -Others Subtotal (i) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Currency derivatives - Interest rate derivatives - Credit derivatives - Equity linked derivatives - Others Subtotal (i) (ii)Cash flow hedging: - Currency derivatives ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st At Fair Value Subtotal Total Amortised cost At Fair Value Subtotal Total Through Other Comprehensive Income Through profit or loss Designated at fair value through profit or loss Through Other Comprehensive Income Through profit or loss Designated at fair value through profit or loss (1) (2) (3) (4) (5=2+3+4) (6=1+5) (7) (8) (9) (10) (11=8+9+10) (12=(7)+ (11) Loans ( A) (i) Bills Purchased and Bills Disco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (B) (i) Secured by tangible assets (ii) Secured by intangible assets (iii) Covered by Bank/Government Guarantees (iv) Unsecured Total (B)- Gross ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Less: Impairment loss allowance Total (C) (II)- Net Total C(I) and C(II) (E) Investments Investments (Current Year) (Previous Year) Amortised cost At Fair Value Subtotal Others* Total Amortised cost At Fair Valu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Associates Joint Ventures Others (specify) Total Gross (A) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tments and the related depreciation and impairment losses or reversals shall be disclosed separately. (G) Biological Assets other than bearer plants: A reconciliation of the carrying amounts of each class of assets at the beginning and end of the reporting period showing additions, disposals, acquisitions through business combinations and other adjustments shall be disclosed separately. (H)Property, Plant and Equipment (i) Classification shall be given as: (a) Land (b) Buildings (c) Plant and Equipment (d) Furniture and Fixtures (e) Vehicles (f) Office equipment (g) Bearer Plants (h) Others (specify nature) (ii) Assets under lease shall be separately specified under each class of asset. (iii) A reconciliation of the gross and net carrying amounts of each class of assets at the beginning and end of the reporting period showing additions, disposals, acquisitions through business combinations and other adjustments and the related depreciation and impairment los ses or reversals shall be disclosed separately. (I) Goodwill A reconciliation of the gross and net carrying amount of goodwill at the beginning and end of the reporting p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (Previous Year) At Amortised Cost At Fair Value Through profit or loss Designate d at fair value through profit or loss Total At Amortised Cost At Fair Value Through profit or loss Designate d at fair value through profit or loss Total (1) (2) (3) (4)=(1)+(2)+(3) (5) (6) (7) (8)=(5)+(6)+(7) Liability component of compound financial instruments Others (Bonds/ Debenture etc.) Total (A) Debt securities in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (c)Loans from related parties (d) Finance lease obligations (e)Liability component of compound financial instruments (f)Loans repayable on demand (i)from banks (ii)from other parties ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (iii)From Others Total (O) Subordinated Liabilities (Current Year) (Previous Year) At Amortised Cost At Fair Value Through profit or loss Designate d at fair value through profit or loss Total At Amortised Cost At Fair Value Through profit or loss Designate d at fair value through profit or loss Total Perpetual Debt Instruments to the extent that do not qualify as equity (1) (2) (3) (4)=(1)+(2)+(3) (5) (6) (7) (8)=(5)+(6) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reconciliation of the number of shares outstanding at the beginning and at the end of the period; (e) the rights, preferences and restrictions attaching to each class of shares including restrictions on the distribution of dividends and the repayment of capital; (f) shares in respect of each class in the company held by its holding company or its ultimate holding company including shares held by or by subsidiaries or associates of the holding company or the ultimate holding company in aggregate; (g) shares in the company held by each shareholder holding more than five percent shares specifying the number of shares held; (h) shares reserved for issue under options and contracts/commitments for the sale of shares or disinvestment, including the terms and amounts; (i) For the period of five years immediately preceding the date at which the Balance Sheet is prepared: Aggregate number and class of shares allotted as fully paid up pursuant to contract without payment being received in cash; Aggregate number and class of shares allotted as fully paid up by way of bonus shares; and Aggregate number and class of shares bought back; (j) terms of any securitie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated amount per share shall be disclosed separately. Arrears of fixed cumulative dividends on irredeemable preference shares shall also be disclosed separately. (W) Where in respect of an issue of securities made for a specific purpose the whole or part of amount has not been used for the specific purpose at the Balance Sheet date, there shall be indicated by way of note how such unutilized amounts have been used or invested. (X) Other Classification related General Instructions 1. When an NBFC applies an accounting policy retrospectively or makes a restatement of items in the financial statements or when it reclassifies items in its financial statements, the NBFC shall attach to the Balance Sheet, a Balance Sheet as at the beginning of the earliest comparative period presented. 2. Share application money pending allotment shall be classified into equity or liability in accordance with relevant Indian Accounting Standards. Share application money to the extent not refundable shall be shown under the head Equity and share application money to the extent refundable shall be separately shown under Other financial liabilities . 3. Preference shares including premi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (viii) Sale of services (ix) Others (to be specified) (I) Total Revenue from operations (II) Other Income (to be specified) (III) Total Income (I+II) Expenses (i) Finance Costs (ii) Fees and commission expense (iii) Net loss on fair value changes ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Profit/(loss) for the period (IX+XII) (XIV) Other Comprehensive Income (A) (i) Items that will not be reclassified to profit or loss (specify items and amounts) (ii) Income tax relating to items that will not be reclassified to profit or loss Subtotal (A) (B) (i) Items that will be reclassified to profit or loss (specify items and amounts) (ii) Income tax relating to items that will be reclassified to profit or loss Subtotal (B) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al Assets classified at fair value through profit or loss On Financial Assets measured at fair value through OCI On Financial Assets measured at Amortised Cost Interest Income on Financial Assets classified at fair value through profit or loss Interest on Loans Interest income from investments Interest on deposits with Banks Other interest Income Total 4. Net gain/ (loss) on fair value changes* Particulars (Current Year) (Previous Year) (A) Net gain/ (loss) on financial instruments at fair value through profit or loss ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Interest on debt securities Interest on subordinated liabilities Other interest expense Total 7. Employee Benefits Expenses Particulars (Current Year) (Previous Year) Salaries and wages Contribution to provident and other funds Share Based Payments to employees Staff welfare expenses Others (to be specified) Total 8. Impairment on financial instruments ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ther Comprehensive Income in Associates and Joint Ventures, to the extent not to be classified into profit or loss; and vi. Others (specify nature). (B) Items that will be reclassified to profit or loss; i. Exchange differences in translating the financial statements of a foreign operation; ii. Debt Instruments through Other Comprehensive Income; iii. The effective portion of gains and loss on hedging instruments in a cash flow hedge; iv. Share of Other Comprehensive Income in Associates and Joint Ventures, to the extent to be classified into profit or loss; and v. Others (specify nature). 11. Additional Information: An NBFC shall disclose by way of notes, additional information regarding aggregate expenditure and income on the following items: i. Depreciation, amortisation and impairment ii. payments to the auditor as (a) auditor, (b) for taxation matters, (c) for company law matters, (d) for other services, (e) for reimbursement of expenses; iii. in case of NBFCs covered under section 135, amount of expenditure incurred on corporate social responsibility activities; and iv. details of items of exceptional nature PART III- GENERAL INSTRU ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Amount As % of consolidated profit or loss Amount As % of consolidated other comprehensive income Amount As % of total comprehensive income Amount Parent Subsidiaries n India 1. 2. 3. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . . Foreign 1. 2. 3. . . ..... X X X X Extracts X X X X X X X X Extracts X X X X
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