Can anyone please explain broadly , the revised shedule VI of Companies Act, 1956 issued on 28 th Feb 2011 pertaining to the preparation of balance sheet and profit and loss account which is not applicable for ipcc may 2012... I mean what is it really.. i'm not getting it..please help me...
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Companies act, 1956
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Earliar we followed Schedule VI for the preparation of balance sheet...format..etc...there were some rules for it...now it has been revised...from april 2011 every company will prepare the balance sheet and p&l in accordance with this revised schedule VI ....
See this it has been explained nicely in this forum - /articles/schedule-vi-an-overview-12673.asp
COMPARITIVE STUDY OF SCHEDULE VI – OLD & REVISED
[Source: Padhuka’s Students Handbook on Advanced Auditing – CA Final]
Thankyou, Rahul and Deepak..
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