REVISED - SCHEDULE VI OF THE COMPANIES ACT, 1956

Thanks for sharing...

nice keep sharing

Thanks for the information Kindly also share when the notiifcation has come. Kindly share the notification also.

SCHEDULE VI OF THE COMPANIES ACT, 1956(REVISED)

The revised Schedule VI has been framed as per the Existing non-converged Indian Accounting Standards notified under the Companies (Accounting Standards), Rules, 2006. This will apply to all the companies uniformly for the financial statements to be prepared for the financial year 2010 – 11 and onwards. This revised Schedules VI is not relevant to the converged Indian Accounting Standards.

The revised Schedule VI is available on MCA Website at https://www.mca.gov.in/Ministry/pdf/Schedule_VI_28feb2011.pdf

THE NOTIFICATION IN THIS REGARD IS YET AWAITED.IN THE ABSENCE OF NOTIFICATION REVISED SCHEDULE VI WILL BE APPLICABLE??

AS THE WORDING  

"This will apply to all the companies uniformly for the financial statements to be prepared for the financial year 2010 – 11 and onwards."

I THINK IT IS APPLICABLE.

PLZ  TAKE OTHERS EXPERTS VIEWS ALSO.

ACORDING TO MCA WEBSITE REVISED SCHEDULE IS EFFECTED FROM 1-4-2011.BUT ACCORDING TO OTHER SOURCES IT IS  APPLICABLE  FROM  2010-2011.PLS SOLVE MY DOUBT

Thanks for the update..................

We are still waiting for the official notification of MCA.So, someone please clarify, whether we can apply the revised schedule-vi for F.Y.2010-11 even before getting this notification?I am planning to get the Balance Sheet signed before 25th April,11.So, please suggest.

Thanks Amit.

I am getting problem in downloading the Revised Schedule in PDF Format. Will you please attach it in a MS-Word format ?

Friends,

Central Govt has issued a amendment to Notification no.447(E) dt. 28th Feb 2011 as follows:

“ The notification shall come into force for the Balance Sheet and Profit and Loss Account to be prepared for the financial year commencing on or after 1.4.2011”.

Though this amendment is not dated & numbrered, the matter stands cleared - REVISED SCH VI IS NOT APPLICABLE TO COMPANIES FOR FINAL ACCOUNTS OF FY 2010-11.

can any guide me how we treat preliminary expense in revised schdule vi

Dear Sumit,

In the 'General Instructions for Preparation of Balance Sheet', last line in point 1 (re. classification of assets as current) says - All other assets shall be classifed as non-current'.

So Preliminary exp should be disclosed under point no 1 (A) (e) - Other non-current assets with appropriate heading.

N Konkar 

does the sch. VII apply to sec. 25 compnies.?