Dear Friends/Sir,
While Presenting Balance Sheet And Statement of Profit & Loss, does it be modified. That means while disclosing shareholder funds in balance sheet if there are no reserves and money received against share warrants,then can those be deleted or not. Are they can be shown in balance sheet while stating there value zero in balance sheet. Which is the appropriate method. Are there any rules in Companies Act Concerning this?
Thank you In advance.
Dear Chinna,
The revised schedule VI is a standard format. it has to be followed by letter and spirit.
Even if the value is 0 - it has to be shown and the head cannot be deleted. You might put 0 in that place.
Also that you cannot insert any heads of your own choice.
In a nutshell, you cannot modify the format... and should try to fit all your values in the given heads.
Extra expln / groupings can be given to support your classification.
I agree with Seetha completely
CAclubindia
