OMTEX CLASSES: Broad Headings of Balance Sheet

Broad Headings of Balance Sheet

The broad headings under which balance sheet is divided are 'equity and liabilities' and 'assets'.
Equity and Liabilities
Equity and liabilities are divided as follows :
  1. Shareholders' funds (with further sub-classification on the face)
  2. Share application money pending allotment 
  3. Non-current liabilities (with further sub-classification on the face)
  4. Current liabilities (with further sub-classification on the face)
Assets
Assets are divided as follows :
  1. Non-current assets (with further sub-classification on the face)
  2. Current assets (with further sub-classification on the face)