Form of balance sheet and disclosure standards govern presentation, classification and comprehensive notes for company financial statements. Schedule VI prescribes the form and minimum disclosures for a company's Balance Sheet and Statement of Profit and Loss, requiring horizontal or vertical presentation, comparative amounts and consistent rounding. It sets classification rules for current and non current assets and liabilities, defines operating cycle criteria, and prescribes detailed line items and sub heads (share capital, reserves, borrowings, provisions, fixed and intangible assets, investments, inventories, receivables, cash equivalents). Notes must disclose nature and terms of borrowings, investment valuation, related party amounts, reconciliation of asset carrying amounts, contingent liabilities and specified profit and loss note items.