Which format of balance sheet is applicable for CA exams.
I came across schedule vi and schedule III.. what is the difference between the two of them
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Balance sheet format
Replies (4)
Both Schedule VI and Schedule III talks about Format of Balance sheet and P & L.
However, Schedule VI was as per Companies Act, 1956 and Schedule III is as per Companies Act, 2013.
Now the Financials need to be prepared in accordance with the provision of Schedule III.
Dat got revised to revised schedule 6. Wat is the diff..
Revised Schedule VI is now Schedule III
schedule III is divided in two parts Division-I(Similar to Schedule VI of Comp Act 1956) and Division-II
Division II is for companies on which IND AS is applicable.
In CA exams Division I is applicable.
Division II is for companies on which IND AS is applicable.
In CA exams Division I is applicable.
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