Will the amended Schedule III be applicable for the companies not required to prepare their financial statements in compliance with Ind AS but existing AS?
Ajay Pradeep Bansal (none) (363 Points)
13 April 2016Will the amended Schedule III be applicable for the companies not required to prepare their financial statements in compliance with Ind AS but existing AS?
ACCOUNTANT
(Student)
(559 Points)
Replied 14 April 2016
Ammended Schedule III is applicable to all companies reg., under companies act(1956) matterless of Accounting Standards Applicable
Ajay Pradeep Bansal
(none)
(363 Points)
Replied 14 April 2016
Ok thanks. But going by the language of MCA notification, there seems to be an ambiguity as to if a company not required to follow Ind AS shall prepare it's books of accounts as per amended Schedule III.
ACCOUNTANT
(Student)
(559 Points)
Replied 14 April 2016
Can you please provide any link of such notification
Ajay Pradeep Bansal
(none)
(363 Points)
Replied 14 April 2016
I'm providing you with the pdf of the Notification so issued by the MCA dated 08/04/2016.
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