Applicabilty of revised schedule vi

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19 November 2012 COMPANY INCORPORATED ON 23/3/2011 .PREPARING ITS FINANCIAL STATMENT FROM 23/3/2011 TO 31/3/2012 . WHETHER REVISED SCH VI IS APPLICABLE. PLEASE GIVE LOGICAL REPLY WITH SUPPORTING EVIDENCE.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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20 November 2012 A company preparing its financial statements for the Financial Year 2011-12 and for the accounting periods thereafter has to prepare the same as per Revised Schedule VI.

In this case the financial year of the new company is from 23.3.11 to 31.3.12 which is FY 11-12.

Accordingly it has to prepare its financial statements as per Revised Schedule VI even though the period does not cover the whole 12 months.

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