Ipcc accounts presentation query

Hey, in the exams you have to present the financial statements according to the revised schedule VI only. There would'nt be such types of problems that would consume too much time...I would suggest you to look into the RTP's and Suggested answers to get an idea as to how the institute wants the presentation to be.

Hii mayank. Since revised schedule VI is mandatory, so you have to solve the questions as per revised schedule VI in case of companies, however, for amalgamation of partnerships you can apply traditional method of preparing final accounts

Originally posted by : Divya Barathi
	Hey, in the exams you have to present the financial statements according to the revised schedule VI only. There would'nt be such types of problems that would consume too much time...I would suggest you to look into the RTP's and Suggested answers to get an idea as to how the institute wants the presentation to be.

completely agree  ...infact word 2 word. 

Schedule VI mandatory and applicable for all types of Companies, and internal Reconstruction and Amalgamation mostly happens with companies.

 

hence, It is mandatory that preparation of F.S. with REVISED SCHEDULE VI.

Absolutely no doubts at all. Your answers w.r.t company accounts MUST BE ONLY IN REVISED SCH VI however for partnership accounts and a few other places the old format can be followed. Mostly the questions requiring bs will come from amalgamation or internal reconstruction. Patter is usually Journals + notes on sh capt Or Reconstrution ac + bs Or Rarely journals + entire bs ( this is where time becomes an issue)

thanks for suggests