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Presentation on Revised Schedule VI

Presentation on Revised Schedule VI

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Published by Abhinav Jain

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Categories:Business/Law
Published by: Abhinav Jain on Mar 04, 2011
Copyright:Attribution Non-commercial

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03/25/2014

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Read with Section 211 of Companies Act 1956
 
General Instructions for Financial Statements
 Where compliance with the requirements of the Act including AS as applicable to the companies require any change in treatment or disclosure including
addition, amendment, substitution or deletion
in the head/sub-head or any changes interse, in the financial statements, the same shall be made and the requirements of the Schedule VI shall stand modified accordingly.
 The disclosure requirements specified in Part I and Part II of this Schedule are in addition to and not in substitution of the disclosure requirements specified in the AS prescribed under the Companies Act, 1956
&
all other disclosures as required by the Companies Act.
 Notes to accounts shall contain information in addition to that presented in the Financial Statements and shall provide where required
 narrative descriptions or disaggregations of items recognized in those statements and
 information about items that do not qualify for recognition in those statements. Each item on the face of the Balance Sheet and Statement of Profit and Loss shall be cross referenced to any related information in the notes to accounts.
Depending upon the turnover of the company, the figures appearing in the Financial Statements may be rounded off to the nearest hundreds, thousands, lakhs or millions, or decimals thereof. Once a unit of measurement is used, it should be used uniformly in the Financial Statements.
The comparatives for the immediately preceding reporting period for all items shown in the Financial Statements including notes shall also be given.
 For the purpose of this Schedule, the terms used herein shall be as per the applicable AS
 
Balance Sheet as on ……………………….
 (i)
I.EQUITY AND LIABILITIES
Shareholders’ funds
 
(a) Share capital (b) Reserves and surplus (c) Money received against share warrants
Share application money pending allotment Non-current liabilities
(a) Long-term borrowings (b) Deferred tax liabilities (Net) (c) Other Long term liabilities (d) Long-term provisions
Current liabilities
(a) Short-term borrowings (b) Trade payables (c) Other current liabilities (d) Short-term provisions
TOTAL

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