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Summary on Revised Schedule VI

Applicable from 1 April 2011 Figures of 10-11 has to prepared again accordingly for b/s and p/l of 2011-12 For any conflict b/w revised schedule VI and Acc standards- standard will prevail over the schedule Schedules concept eliminated so all details have to mentioned in notes to A/cs Same unit of measurement has to be used for all the items. Accordingly rounding off options eliminated Now, for t/o <100cr-nearest 100ds, 1000ds, lakhs or millions and for =/> 100cr- nearest lakhs, millions or crores Additional disclosures required under a/cg standards and/or any guidance note and/or by any other legal obligation shall continue to be made Changes in b/s No more an option of Horizontal format. All assets & liabilities are to be bifurcated b/w current & non- current [ on the basis of operating cycle] Net deferred tax asset/ liability always non current In six months clause of debtors the days are counted from due date of payment and not from invoicing. Disclosure of: 1. Shareholders with more than 5% holding 2. Shares issued for other than cash, bonus or shares bought back relating to 5 yrs preceding the current yr. 3. P/l dr. bal. under Reserve & surplus instead of showing as separate item in asset side. 4. Capital adv under Loans & Adv 5. Defaults made in repayments of loans & interest in FS in addition to CARO. Also the terms on long term loan 6. Details of investments-names of bodies in which invested, nature like whether subsidiary, JV etc pus any provision made for diminution. 7. Terms of shares like rights, restrictions, preferences, and div distribution terms 8. Calls unpaid from officers in addition to calls unpaid from directors 9. Share application money pending allotment: under shareholders funds or current liabilities (depending on issued capital) 10. Proposed div in notes instead of under provisions. However it has to be shown under provision also in accordance with AS-4.

Sundry debtors replaced with Trade receivables (debtors for other than trade purpose wont be shown here anymore) Cash & Cash equivalents changed to cash & Bank Balances with 2 headings: 1. Cash & cash equivalents 2. Other bank balances( modified in order to follow a/cg stds) Changes in p/l Name changed from p/l a/c to Statement of p/l Format given for Statement of p/l Below the line would shown under Reserve & surplus and not as appropriation Any item of income or expense exceeding 1% of revenue from operations or 5000 100000 to be disclosed separately Dividends are to be shown as income only when right to receive is on balance sheet date In non- finance cos. revenues are to be bifurcated as: 1. Sale of products 2. Sale of services 3. Other operating revenues Less: excise duty and in notes too. In finance cos. the same is: 1. Interest 2. Other financial services and in notes too In notes information regarding: 1. R/w and good purchased in mfg co. 2. Goods purchased in trading co. under broad heads 3. gross inc in co. rendering services Disclosures regarding: 1. 2. 3. 4. 5. Managerial remuneration and calculation of net profit for the same Licensed capacity, installed capacity and actual production Investments purchased and sold Items pertaining to companies under same mgmt Amts due from directors or officers

6. Comm., brokerage and non-trade discounts not required any longer.