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Revised schedule vi - applicable areas

IPCC 2652 views 4 replies

SOUMYA SEN

CA FINAL STUDENT

191 Points Joined November 2011

Friends please help me with reagrds to areas of applicability of Revised Schedule VI. As far as I could make out it is applicable in problems of Company Final Accounts, while drawing Balance Sheet in case of amalgamation problems, while drawing balance sheet after issuing bonus, buyback, redemption of preference shares and debentures.....

I am not very sure whether this format is also applicable if question asks for Balance Sheet in case of Branch and Departmental Accounts problems...

I request you all to help me and please mention specially where Revised Schedule VI is applicable as far as our IPCC Accounts for both groups are concerned...

Thanks...

Replies (4)

Sourabh

CA FINAL

43 Points Joined June 2012

revised schedule vi is not applicable for may2012 and nov2012 as per my knowedge

Sireesha Gorti

Sole Proprietor

174 Points Joined July 2011

Hi sowmya,

Revised sch 6 is applicable for nov'12. u can c the notification of the insti 23.05.12.

N.Naveena Maheswara Rao

Assistant manager for accounts

1096 Points Joined February 2009

I have verified the updated institute material. In that they have provided the balance sheets of branch and departmental accounts in old schedule VI. The reason being is they are not companies and Revised Schedule VI is applicable only for companies.