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Balance sheet

kushal goenka (student) (156 Points)

07 June 2012

For exam in november 2012 which format for balance sheet is relevant i.e horiontal or vertical

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12 Replies

* Krishna * (CA Student) (6149 Points)
Replied 07 June 2012

Vertical format is applicable, as Revised Schedule VI is applicable for Nov 2012 exams.

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kushal goenka (student) (156 Points)
Replied 07 June 2012

cant i prepare in horizontal format or is there is any deduction in marks for preparing in horizontal format

Aastha (Article) (44 Points)
Replied 08 June 2012

yar applicable toh cs m b the par exam m hi bs horizontal form m ayi th so wat to do?

* Krishna * (CA Student) (6149 Points)
Replied 08 June 2012

Surely in my opinion there will be significant deduction in marks. As a professional student, we should update ourselves with ICAI's announcement and must follow them to get good marks. Else ICAI wont give any marks because it specifically mentioned that Revised schedule is only applicable and as per revised one only vertical is allowed. If we still prepare in horizontal format it means we are not up-to-date.

Ankit Hinduja (Student) (1227 Points)
Replied 09 June 2012

Ya i agree with Krishna's reply . you should draw up vertical format.. then there will be no chances for dedution of marks..

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kushal goenka (student) (156 Points)
Replied 09 June 2012

thanks a lot guys providing me ur suggestionssssssssssssssss

N.Naveena Maheswara Rao (Assistant manager for accounts) (1096 Points)
Replied 26 June 2012

ICAI has updated the material as per revised Schedule VI. I request all the students to go through the problems which are updated as per revised Schedule VI. For IPCC GR I - Go through Company financials, Amalgamation, reconstruction and bonus issue chapters of the ICAI material For IPCC GR II - Go through Buy back, red of debentures, Amalgamation, reconstruction chapters of the ICAI material Updated auditing material is also available at ICAI site

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sonia (-) (35 Points)
Replied 24 September 2012

for every chapter do we have to make balance sheet as per revised schedule 6??

Kiran Vasant (Self) (33 Points)
Replied 25 September 2012

Don't look at it as every chapter - every problem that involves a company would require the Revised Schedule VI and otherwise for single entry and other chapters RevSchedule VI may not be applicable. For NPO unless it is a Section 25 Company (without Share capital) Schedule VI is not applicable.

KIRAN

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