I would like to know, for the accounts exam Is it preferable to do BALANCE SHEET according to SCHEDULE 6? or a normal one? will it make any difference?
4 Replies
Faiz Ahmed
( Article Trainee)
(1731 Points)
Replied 06 November 2010
Being into CA course, one should follow the correct order of different items in balance sheet. If its a company balance sheet, follow Schedule 6.
In other cases, follow order of permanence or order of liquidity in relation to different items of balance sheet.
Kindly do not display items in dumping manner. All items have its own place & importance to different users.
Devendra
(Chartered Accountant)
(4775 Points)
Replied 06 November 2010
For Pvt. Ltd. Co. prepare Balance sheet as prescribed by in Part I Schedule VI of the Companies Act, 1956. And for other assesses prepare Balance Sheet in the normal for ie. 'T' Format.
Wish U happy and a safe Diwali... Enjoy!!
Regards,
Devendra
Devendra
(Chartered Accountant)
(4775 Points)
Replied 06 November 2010
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