Financial Statement Preparation - Available formats for Tangible and Intangible assets schedule
The Tangible and Intangible schedule comes in two formats
1. The Horizontal format, where the asset categories are listed as rows and the balances / addition / deletion and depreciation are given as columns.
In this format, the previous year totals alone are displayed.
Sample:
2. The Vertical format, where the asset categories are listed as columns and the balances / addition / deletion and depreciation are given as rows. This format includes the category-wise breakup for the previous year as well
This is the standard format prescribed by ICAI for Non-corporates.
Sample:
