Menu
Unit of measurement in balance sheet etc
A company's turnover is less than 100 crores. As of now it is preparing its Balance Sheet and P/L in Rs. in thousands. But it intends to change the units of measurement in Rs. in Lakhs as per Schedule III of the Companies Act. Can it do so and if yes then whether shareholders approval is required or not. Please also point out Other formalities and disclosures for changing the units of measurement in Balance Sheet and PL etc.
Replies (1)
Schedule III of the Companies Act, 2013 prescribes the figures in which the financial statements are needed to be prepared. For turnover less than 100 crores rupees, the rounding up can be done to nearest hundreds, thousands, lakhs or millions. The comparative figures are also required to be shown to the same rounding up. Shareholders approval is not required in this regard
Recent Topics :
- Discrepancy in Auto populated figures in GSTR1 of
- What should I do after receiving a GST Show Cause
- Discuss and Download CA Inter Question Paper Septe
- Hi experts needed some help
- Gift of Immovable Property u/s 92 of Income Tax Ac
- NSE BSE Pre-open session changes from 7 September
- Financial statements for non corporate entities
- Hi experts need some help
- Is SAP FICO a good career option for finance and a
- Direct Cost booking
Related Topics :
CAclubindia
