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Revised schedule vi

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(Querist)
03 July 2012 Where will the increase in WIP appear in revised Schedule VI which was appearing as a Income item in the last year Profit & Loss A/c?
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Sanjay Chauhan (IFRS)

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Sanjay Chauhan (IFRS) (Expert)
03 July 2012 The language used in Revised schedule VI is CHange in Inventory.

This has to be classified in cost of sales.

Change will include both; increase as well as decrease.

Thus entities following a practice of showing increase as part of total income, will be impacted on account of this presentation.
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Shruthi Shetty

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Shruthi Shetty (Querist)
03 July 2012 Thank You Sir,Does it means it will be shown as an expenditure item ?
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Sanjay Chauhan (IFRS)

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Sanjay Chauhan (IFRS) (Expert)
03 July 2012 Yes, negative in expenditure.
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Shruthi Shetty

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Shruthi Shetty (Querist)
03 July 2012 Thanks a lot

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