what is the order in praparing the balance sheet, placing
of assets
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Answer Posted / h.r. sreepada bhagi
Assets are arranged in the reverse or descending order of
liquidity. I.e the least liquid assets are listed first &
the most liquid assets follow down.
Exception are Deferred Revenue Expenditure, Pre-Operative
Expenditure, Preliminary Expenditure, etc. under
Miscellaneous Expenditure, to be charged off over a
reasonable period of time (More than one accounting period)
and Debit Balance in the Profit & Loss A/c (i.e. Carried
Forward Loss), since these are not real assets.
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