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Schedule VI Particulars

ananthakrishnan v (chartered accountant) (34 Points)

22 September 2007

A private limited company (engaged in manufacture of switch gears and panels) uses more than 2000 components as raw materials. It is very difficult to given quantity particulars even for high valued items. What could happen if the auditor qualifies it is impracticable to give quantity particulars.

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2 Replies

Ravikumar.G (Consultant) (18525 Points)
Replied 22 September 2007

As per CARO, AS 2, 3CD and Notes everywhere we have to give stock details and method of valuation of stock. It it more than 2000 components major components u can give in the list and others u can prescribe "Others" in consolidation. Ur industry doing manufacturing process they would have set up some internal procedures and policies based on that u have to analyse and give the report.

Arun BR (Manager-Finance) (50 Points)
Replied 05 October 2007

Since you are having manufactire industry and which cross 2000 mazor item you can do as per CARO, AS 2, 3CD and Notes everywhere we have to give stock details and method of valuation of stock. It it more than 2000 components major components u can give in the list and others u can prescribe "Others" in consolidation. Ur industry doing manufacturing process they would have set up some internal procedures and policies based on that u have to analyse and give the report.