22. Mudra in preparing its balance sheet schedule III, Part 1 of the  companies Act, 2013 and provides its true and fair view of the financial position. 
(a) Under which head and sub-head will the company show 'stores and spare' in its balance sheet?
(b) What is the accounting treatment of 'stores and spares' When the company Will calculates its inventory turnover ratio? 
(c) The management Of Mudra Ltd. want to analyse its financial statements. State any two objectives of such analysis. 
(d) Identify the value being followed by Mudra Ltd. 

Dear Student,
Mudra Ltd.
(a) "Stores and spares" would be shown under Current Assets under Inventory in Balance Sheet;
(b) Valuation of Stores and spares would be considered while calculating inventory turnover ratio just like other inventories of raw material, finished goods etc;

(c) Objective of Financial Statement Analysis:
  ​(i) To understand the financial position and growth of the business;
  ​(ii)  To visualise the future oppportunities basis the past & present situations;

(d) Integrity & Objectivity by adopting accounting policies and procedures and timely analysing them

Regards,