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Ipcc - help in revised schedule vi

Siddharth Singh (CA-Final) (202 Points)

16 September 2012

plz let me know that IN EXAM, whether i have to show calculation of heads in notes to accounts below balance sheet( REVISED SCHEDULE VI ) or i should show calculation in the balance sheet itself???

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Mitul Sarkar (CA Final CS inter BCOM) (248 Points)
Replied 16 September 2012

Originally posted by : siddharth singh
	plz let me know that IN EXAM, whether i have to show calculation of heads in notes to accounts below balance sheet( REVISED SCHEDULE VI ) or i should show calculation in the balance sheet itself???

For better presentation working notes should be shown separately under various heads.

Abhinav (student) (564 Points)
Replied 17 September 2012

Preferably as notes. It is very time consuming.

Abhinav (student) (564 Points)
Replied 17 September 2012

i know u know this. only while making b/s of a company use schedule vi.

tejaswini (b com) (62 Points)
Replied 28 September 2012

only in case of company accounts or bank and insurance company also need to write in revised schedule vi

tejaswini (b com) (62 Points)
Replied 28 September 2012

please confirm revised schedule vi is applicable only for company accounts or other chapters like banking and insurance company accounts for nov2012 ipcc exams

prachi shrotriya (12) (41 Points)
Replied 02 October 2012

only the balance sheet sheet needs to be prepared as per revised schedule 6?? profit and loss account wont be effected by it?

and also this revised format shall be applicable in every balance sheet of any chapter we prepare in in the exam??

* Krishna * (CA Student) (6149 Points)
Replied 03 October 2012

@ Prachi:

Revised Schedule VI is applicable to the following chapters for sure and applies to both B/s, P/L:

1. Amalgamation of Companies (covered in Group-I & II)

2. Internal Reconstruction of Companies

3. Buy-back of Shares

4. Electricity Companies

prachi shrotriya (12) (41 Points)
Replied 05 October 2012

thanks krishna...but what about the remaining chapters like single entry and NPO, will revised schedule 6 be applicable to them too?

* Krishna * (CA Student) (6149 Points)
Replied 05 October 2012

In my view, they are not applicable because in the revision test papers of icai applicable for nov 2012 exams, the problems relating to the chapters as you asked were not prepared as per RS VI. Hence, in my view they are not applicable for those chapters.