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)