Company Final Accounts One Shot | Schedule III Format + All Adjustments | CMA Inter Group 2

Company Final Accounts One Shot Revision for CMA Inter Group 2 — Paper 10 Corporate Accounting. This video covers the complete Schedule III format of Balance Sheet and Statement of Profit & Loss, all 10 important adjustments, and a fully solved practical question, so you can revise the entire chapter in one sitting before your exam. 📚 What you'll learn in this One Shot: ✔ Schedule III of Companies Act 2013 — Division I vs Division II, and which one applies to you ✔ Complete Balance Sheet format — Shareholders' Funds, Non-Current & Current Liabilities, Non-Current & Current Assets ✔ Complete Statement of Profit & Loss format — Revenue, Expenses, Exceptional & Extraordinary Items ✔ Reserves & Surplus Note preparation ✔ All 10 key adjustments: Outstanding Expenses, Prepaid Expenses, Accrued Income, Pre-Received Income, Closing Stock, Depreciation (both methods), Fixed Asset Revaluation, Bonus Shares, Sale of Fixed Asset, and Dividend treatment ✔ The Trial Balance vs Additional Information rule — one effect vs two effects ✔ Handling hidden adjustments like outstanding debenture interest ✔ Handling a Suspense Account arising from a wrong entry on asset sale ✔ A fully solved practical question — Subhash Ltd — preparing the complete Balance Sheet and Statement of P&L from scratch ✔ Common mistakes students make and how to avoid them 👨‍🏫 Taught by: Abhimanyyu Agarrwal 📖 Course: CMA Intermediate Group 2 📄 Paper: Paper 10 – Corporate Accounting 🙋 Frequently Asked Questions: Q1. Which Schedule III format should CMA Inter students use for Company Final Accounts? A. CMA Inter students should focus on Division I of Schedule III, which applies to companies following regular Accounting Standards, with Part A for the Balance Sheet format and Part B for the Statement of Profit & Loss format. Q2. What happens if an item is given in the Trial Balance versus Additional Information? A. An item given in the Trial Balance has only one effect, going either to the Statement of P&L or the Balance Sheet, whereas an item given in Additional Information has two effects, impacting both the Statement of P&L and the Balance Sheet. Q3. How should proposed or declared dividend for the current year be treated? A. As per AS 4, dividend proposed or declared for the current year in Additional Information is a non-adjusting event and should be ignored, whereas dividend actually appearing in the Trial Balance should be deducted from the appropriation section of Reserves and Surplus. Q4. Where does profit or loss on sale of a fixed asset appear in the Statement of Profit and Loss? A. Profit or loss on sale of a fixed asset is shown as an Exceptional Item, not as Other Income, since it is not part of the company's normal operating income. Q5. Is Company Final Accounts an important chapter for CMA Inter Group 2? A. Yes, this chapter carries significant weightage in CMA Inter Paper 10 Corporate Accounting since it combines nearly every adjustment learned earlier into one comprehensive practical question. ⏱ Timestamps: 0:00 Introduction — Schedule III, Division I vs II 1:27 Key Rules — AS vs Schedule III Conflict 2:19 Balance Sheet Format — Shareholders' Funds 2:56 Reserves & Surplus — How to Prepare the Note 4:10 Share Warrants & Share Application Money Pending Allotment 4:45 Non-Current Liabilities 6:20 Current Liabilities 7:20 Asset Side — Non-Current Assets 8:39 Current Assets 9:53 Cash & Cash Equivalents 11:16 Contingent Liabilities & Capital Commitments 11:36 Statement of P&L — Format Overview 14:19 Profit Before Exceptional & Extraordinary Items 15:17 Adjustments Introduction — TB vs Additional Information Rule 15:37 Adjustment 1: Outstanding Expenses 17:59 Adjustment 2: Prepaid Expenses 19:53 Adjustment 3 & 4: Accrued Income & Pre-Received Income 20:37 Adjustment 5: Closing Stock 21:20 Adjustment 6: Depreciation — Both Methods 24:04 Adjustment 7: Fixed Asset Revaluation 24:52 Adjustment 8: Issue of Bonus Shares 25:38 Adjustment 9: Sale of Fixed Asset 27:57 Adjustment 10: Dividend Treatment 29:39 Sum 1: Subhash Ltd — Full Practical Question 40:07 Handling the Suspense Account 46:37 Preparing the Balance Sheet — Full Solution 1:07:24 Preparing the Statement of P&L — Full Solution 1:20:55 Final Tally & Closing 🔔 Subscribe for more One Shot Revisions of CMA Inter Group 1 & Group 2 — Financial Accounting, Corporate Accounting & more, only on this channel! 📲 Follow for updates: 📚 Join Our CMA Intermediate Classes 🌐 𝐕𝐢𝐬𝐢𝐭: ‎🌐 𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩 𝐂𝐡𝐚𝐧𝐧𝐞𝐥: 🌐 𝐓𝐞𝐥𝐞𝐠𝐫𝐚𝐦: 🌐 𝐈𝐧𝐬𝐭𝐚𝐠𝐫𝐚𝐦: 🎁 EXCLUSIVE GIFT FOR YOU: Stop making messy notes! Download my premium, exam-ready Handwritten Notes for this chapter completely FREE here: #CMAInter #CompanyFinalAccounts #ScheduleIII