nithya (article assistant) (63 Points)
17 July 2011Revised Shedule vi is applicable from 01st april 2011 since first quater results of 2011 -12 are interim financial report its goverened by CLAUSE 41 of listing agreement there the amendment is not made so how to present our interim financial report in revised shedule vi or in the old format ?and how to give comparison for the previous period?
Sandeep Garg
(Consolidation and IndAS Application)
(1056 Points)
Replied 17 July 2011
Hi Nithya,
Revised schedule VI is not applicable for reporting in clause 41 format. Companies have to report in existing clause 41 format only and previous year figures will also be as per same format. Reporting in revised schedule VI format is not required in quarterly reports as there is no requirement in companies act to submit quarterly financials. Qyarterly financials are required by SEBI so SEBI format has to be followed. But annual accounts for FY 2011-12 will be reported in revised schedule VI format only. So for 3 quarters companies are not required to to follow revised schedule unless SEBI format is revised.
Regards,
Sandeep
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