- As per the amendment, revised schedule VI will be applicable from Nov 2012 onwards for IPCC exams.
- So the revised schedule VI shall come into force fot the balance sheet and profit and loss account.
- My doubt is should we have to prepare balance sheet and P & L account as per revised Schedule VI for only company accounts or for all the chapters( where we required to draw B/S and P & L account ).
- And is it applicable only to paper -1 accounts or for both, paper -1 accounts and paper-5 advanced accounting.
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Schedule vi
Replies (2)
revised schedule is apllicable on companies(private and public) ,so those chapter relating to companies require revised schedule ,not aplicable for partnership ,sole owner ....and in paper five not apllicable on banking ,insurnce,electricity etc
Thankyou Manoj Chopra.
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