The companies act, 1956 read section 211 revised schedule vi m s godbole & co, chartered accountants. April 2011 the requirements of the revised schedule vi however, do not apply to companies as referred to in the proviso to section 211 (1) and section 211 (2) of the. Academiaedu is a platform for academics to share research papers. Revised schedule vi implementation proposal let's make it simple by blending technology and domain knowledge & & by webtel electrosoft pvt ltd (india's leading 'e. 2 • revised schedule vi has been framed as per the existing non-converged indian accounting standards and has nothing to do with the converged indian accounting.
Company final accounts format as per( revised schedule vi) : company final accounts format as per revised schedule vi. System driven reports in revised schedule vi format revised schedule vi financial statements checklist configurable reports for mapping to schedule vi heads. Schedule vi (see section 211) general insturctions for preparation of balance sheet and statement of profit and loss of a company in addition to the notes.
Current and non current liabilitites as per revised schedule vi to the but as per the revised schedule vi this could be converted into current one. Faq_revised schedule vi - download as pdf file (pdf), text file (txt) or read online. Background and applicability • revised schedule vi not applicable to insurance, banking, electricity companies or companies which are required to prepare financial.
Revised schedule vi of the companies act, 19561 a comparison with old schedule vi. The revised schedule vi, applicable for financial years beginning on or after 1 april 2011, is likely to have significant impact on financial statements of most. Old schedule vi was operative from 1956 outdated format for balance sheet replaced revised schedule vi is a step towards convergence with ifrs. 2 in what follows, is the extent to which the students are expected to know about the items of the revised schedule vi ( part i and part ii) for. Ministry of corporate affairs [mca], government of india, has on 3 march 2011, hosted on its website, the revised schedule vi to the companies act, 1956 which d.
Rate of depreciation as per companies act is given under schedule xiv and the recently revised the schedule vi and you can also refer to changes in schedule vi. Revised schedule vi reference book 1 financial statements - revised schedule vi the revised schedule vi reports are a recent requirement for all registered companies to. Introduction: section 211 provides that every balance sheet of a company shall give a true and fair view of the state of affairs of the company as at the end of the. Revised schedule vi by t p ghosh, training courses in mumbai, delhi & bangalore by leaders in executive education princeton academy.
1 government of india ministry of corporate affairs notice inviting comments on the revised schedule iii to the companies act, 2013 for a company whose financial. Why revised schedule vi • simplification of presentation • economic and regulatory reforms over past several years –1960 to 2011 • evaluate existing format. Whether interest paid on delayed payment of vat should be shown under rates taxes or can be shown with interest expense under finance cost - revised schedule vi.
The central government has issued a new and revised schedule vi format in the preparation of balance sheet and profit and loss account. Disclaimer these are personal views of the author and shall neither be considered as professional advise nor be constructed to be the views of icai, any of its.
Presented by ca ankur chaplot in seminar on changes in revised schedule vi of the companies act, 1956 organised by ratlam branch of circ of icai awarded as b. Information on changes to schedule vi of the companies act of 1956 find out how the revisions to the schedule affect your company's filing. Respected experts where do we disclose the remuneration paid to directors in revised schedule vi should the same be classified separately under salaries employe. Revised schedule vi revised schedule vi.Download revised schedule vi`