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Revised schedule vi

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17 April 2012 As per Revised Schedule VI for preparation of Balance Sheet as per Companies Act w.e.f.01.04.2012 relevant to F.Y.2011-12 please clarify the followings where to be shown & under which schedule.
- Preliminary Expenses yet not w/off.

- Preoperative Expenses pending for allocation among Fixed Assets.

Regards.
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Mihir Doshi

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Mihir Doshi (Expert)
17 April 2012 Revised Schedule VI does not speak about treatment of Preliminary Expenses but Disclousre to Guidance note issued by ICAI suggest:

Revised Schedule VI is clear that additional line items can be added on the face or in the notes. Keeping this in view,
entity can disclose the unamortized portion of such expenses as “Unamortized expenses”, under the head “other current/ non-current assets”,depending on whether the amount will be amortized in the next 12 months or thereafter.
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