Which format of balance sheet is applicable for CA exams.
I came across schedule vi and schedule III.. what is the difference between the two of them
4 Replies
Rakesh Joshi
(CA Final)
(1272 Points)
Replied 09 October 2018
Both Schedule VI and Schedule III talks about Format of Balance sheet and P & L.
However, Schedule VI was as per Companies Act, 1956 and Schedule III is as per Companies Act, 2013.
Now the Financials need to be prepared in accordance with the provision of Schedule III.
nidhi agarwal
(3 Points)
Replied 09 October 2018
Dat got revised to revised schedule 6. Wat is the diff..
Rakesh Joshi
(CA Final)
(1272 Points)
Replied 09 October 2018
Revised Schedule VI is now Schedule III
Prakash Gehani
(Consultant & Teacher(Whatsapp 8718057907))
(1306 Points)
Replied 09 October 2018
schedule III is divided in two parts Division-I(Similar to Schedule VI of Comp Act 1956) and Division-II
Division II is for companies on which IND AS is applicable.
In CA exams Division I is applicable.
Division II is for companies on which IND AS is applicable.
In CA exams Division I is applicable.
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