Revised schedule6

i am giving ipcc this november group1..is revised schedule 6 applicable for prparing income and expenditure a/c and balace sheet?in chapter 'financial stateent of non profit organisation'?

Replies (1)

Rev schedule is applibale for all chap in exam except:

For Group I

1. NTO

2.Single entry system

Note: In real life rev sch is not mandatory for P'ship Busines, but in exam u have to present your ans in Rev schedule, hence it is applicable in p'ship chap also.)

Note: For Insurance Claim Chap. for back calculation of Cloing stock  u can prepare T shape Trading (Memo. Trading A./c.) instead using Rev schedule.

Disclaimer: Above reply is not a confirmed notification from ICAI, i'm just giving my opinion after observing solutions given Practse Manuals.

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