in may 2012 exams, revised schedule vi is not applicable . so it means that in the balance sheet we have to write FIXED ASSETS and current assets but not NON CURRENT assets and current assets. If anybody by mistake writes fixed assets as non current assets IN THE BALANCE SHEET will that student lose marks? plz advise.
When you are saying that the revised schedule is not applicable to your exam then why would the Qn of writing 'Non-current Assets' arise...write what is applicable coz Mumbai University goes by its syllabus ONLY. I cannot say whether they ll deduct marks for it or not but i wud advice you to stick to your syllabus.
Karia Overseas
Ahmedabad
CA
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Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
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