26 July 2012
No need to show the reserve created during 2011-12. If at all you want to disclose , do it by way of NOTE. Make a simple note that revised schedule is trying to make all of us IFRS compliant.
26 July 2012
That means that the profit calc. at the end in Stat. of P&L is w/o deducting any reserve created during the year and the Profit and loss balance shown in B/S is after deducting the amoount for the reserve and we just have to give a note for this.
CAclubindia
