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Balance Sheet for first Financial Year

MCA 494 views 4 replies

shobhit

Artical Executive

115 Points Joined April 2014

Dear Experts,

One of my client opened a company on 23/02/2018 but the problem is how to fill the data in AOC-4 in P&L and BS given column

what is the right procedure

1. Previous year 23/02/2018 to 31/03/2018 and Current Year 01/04/2018 to 31/04/2019

2. Previous year blank and current year 23/02/2018 to 31/03/2019

i have attached screen shoot please check and confirm me. is it right way to fill the form

Thanks

Attached File : 1267429 20191129132611 aoc 4 problem.pdf downloaded: 90 times

Replies (4)

CS Rashi Jain

Practicing Company Secretary @ RASHI JAI

1300 Points Joined August 2019

Both the methods are correct.
It is recommended that the first financial year should be considered from the date of Incorporation till the end of financial year (31st march of following year) but if a company is incorporated in the first quarter of the year then it can be continued till the next financial year end.

RAJA P M

"Do the Right Thing...!!!"

128142 Points Joined January 2015

Yes... I agreed to Mr Rashi Jain reply...

@ Mr Shobit.,

Your details is correct. Also You can consider Mr Rashi Jain's reply for PY's (23/02/18 to 31/03/18) transactions into CY's values...