Final accounts o companies

This query is : Resolved 

26 April 2012

PLease tell me about:

Schedule No. and Notes No. in the Final Accounts of the compnies.

As in the case of financial stements of banking and insurance companies schedule no. are used.

But there is little confusion in the case of final accounts of the companies that whether here is to be used shedule no. or notes no.?

and if shedule nos. are used are there any fixed serial of such shedule because in the book the schedules are not in proper method like sometimes it gives the sch. 3 to long term borrowings and sometimes it gives sch 3 to trade payables and sometime do not give sch. no. to trade payables.

what is the exact way? please reply soon..

Guest (Expert) 26 April 2012

As per revised schedule VI, the schedules are replaced by incorporating it with notes to accounts. Now there is no schedules as per revised schedule VI. It will form part of notes to accounts

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