Archive for the ‘Schedule VI’ Category


Frequently Asked Questions (FAQs) on Revised Schedule VI to the Companies Act 1956

Format- PDF

No. of Pages- 17

File Size- 85.9 Kb

No. of Questions: 50

General- 1 to 7

Classification- 8 to 14

Current vs Non-Current Classification- 15 to 33

Operating Cycle- 34 to 39

Cash Flow Statement- 40

Other Disclosures- 41 to 50.

Click here to download the Frequently Asked Questions (FAQs) on Revised Schedule VI to the Companies Act 1956 in PDF Format.

Source: The Institute of Chartered Accountants of India.


29-12-2011

Important Announcement for PCC/IPCC and Final Students

This is to bring to the attention of students that the Revised Schedule VI to the Companies Act, 1956 issued by the Ministry of Corporate Affairs on 28th February, 2011 pertaining to the preparation of Balance Sheet and Profit and Loss Account under the Companies Act, 1956 for the Financial Year commencing on or after 1.4.2011 shall not be applicable for the PCC, IPCC and Final examinations to be held in May 2012.

Source: The Institute of Chartered Accountants of India


Clarification on Notification no. S.O. 447 (E) dated 28.02.2011 on Revised Schedule VI (shall be effective from 01.04.2011).

General Circular No: 62/2011, F.No. 17/244/2011-CL-V dated 05.09.2011

The undersigned is directed to refer to this Ministry’s Notification No. S.O. 447(E), dated 28-2-2011 regarding Revised Schedule VI of the Companies Act, 1956 and to say that clarification has been sought that during the current year, Ministry has amended the Schedule VI which is to take effect for accounts closing on 31st March, 2012. During the financial year, in case companies intend to go for Initial Public Offer/Further Public Offer, they are expected to prepare accounts in the new Schedule VI format. If previous figures are reclassified in accordance with new Schedule VI, this will pose enormous amount of administrative work and difficulty in making such changes besides making comparison with previous year unrealistic.

2. The Ministry has examined this matter and clarifies that the presentation of Financial Statements for the limited purpose of IPO/FPO during the financial year 2011-12 may be made in the format of the pre-revised Schedule VI under the Companies Act, 1956. However, for period beyond 31st March, 2012, they would prepare only in the new format as prescribed by the present Schedule VI of the Companies Act, 1956. Also the companies would ensure that it will prepare and file the Annual Accounts for the financial year 2011-12 as per revised Schedule VI of the Companies Act, 1956.

3. This issues with the approval of the Corporate Affairs Minister.

Click to download the above Circular- Clarification on Notification No S.O. 447 (E) dated 28.02.2011 on Revised Schedule VI (shall be effective from 01.04.2011).

Source: Ministry of Corporate Affairs.