Friends
I came to know that Revised Schedule VI is applicable for Nov 11 Final Exams. My query is whether we have to prepare Balance sheet in xam as per this schedule ? it means i need to practice questions like Amalgamation & consolidation as per new schedule ?
Yes It is applicale to NOV;'11 exm .
Reason:
On pg 27 of Students News letter for the month of May'11Point No.3 & BOS Announcement- Clearly mentiones that since it is applicable from 1.4.2011 it is applicalbe to Nov'11 exm.
They further hve given the source to access the new format of Sch vi.from www.mca.gov.in
I tried to save a copy bt did nt found it . If u hve it thn pls mail @ tusharssampat27 @ gmail.com
Thnnx in advance.Pls reply
so it means we hav to prepare b.sheets in xam as per revised shcedule ?
The revised Schedule VI prescribes a vertical format for presentation of balance sheet. Thus, a company will not have option to use horizontal format for presentation of financial statements.
Yes It is applicable in November 2011 exams. Here is a copy of the Revised Schedule VI.
ICAI's reply to me,"Dear student, As per revised Schedule VI, only vertical form of preparing balance sheet is allowed. As revised schedule VI is applicable from Nov. 2011 examination, therefore, you have to prepare the Balance sheet in vertical form only even for mergers and acquisition or holding cos account. For details of Revised schedule VI, hopefully you will be getting information in June Student's Journal."
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