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?
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Accounts-doubt
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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.
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.
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Regards,
Devendra
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