Revised schedule vi

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Lijiya Joseph (Querist)
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27 November 2012 sir/ madam,

can u please tell me the difference between exceptional and extraordinary items which appear in the revised schedule 6 of companies act 1956. kindly give
me some examples also.

Hari Beldona

Hari Beldona (Expert)
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27 November 2012 Exceptional item relates to significant amount and non recurring in nature.
Example:Profit on disposal of plant & Machinery.

Extraordinary item is unusual in nature, significant amount and infrequent in nature.
Example:Loss due to earthquake in the manufacturing plant.

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