*Assistant Professor, Amity Business School, AU, MP
**Assistant Professor, Amity Law School, AU, MP
***Director, Amity Business School, AU, MP
Online published on 14 July, 2015.
The balance sheet of a banking company has to be prepared in Form A of Schedule III as per Banking Regulation Act. ‘Advances’ (Schedule 9) are shown in the Assets column of Balance Sheet. These Advances contributes the major portion to the balance sheet in terms of values. The Profit and Loss Account of a banking company has to be prepared in Form B of Schedule III, which includes an Income head ‘Interest Earned’ (Schedule 13) as a major income contributor. It will appropriate to say that ‘Advances’ are the core assets of a banking company and also a primary income earner.
