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Ipcc - help in revised schedule vi


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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CA Final CS inter BCOM

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.

 
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Preferably as notes. It is very time consuming.

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

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

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

 
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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??

 
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@ 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

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

 
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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.

 
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