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Doubt regarding financial statements of electricity company

Arpan De (Articled Assistsant - CA Final) (68 Points)

10 April 2013

Dear Fellow Students, Reverred Members,

I am in a deep confusion as to whether Revised Schedule VI shall be applicable for preparation of Financial Statements of Electricity Companies. Moreover, I would also like to know urgently whether the concept of Double Accounts and problems regarding Replacement of Assets and Distribution of Surplus shall be relevant at all for May 13 Intermediate (IPCC) examinations.

I shall be hugely benefitted if any body can concede me a proper advice.

Arpan De.

CA student.

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2 Replies

Deepak Gupta (CA Student) (15922 Points)
Replied 10 April 2013

Chapter of “Electricity Company” has been re-written based on the provisions of the Electricity Act, 2003. This is applicable from May 2013 exams. Earlier chapter was as per Electricity Supply Act, 1948.

It was revised in the July 2012 edition of ICAI study material, which is applicable for May 2013 Exams.

https://www.icai.org/new_post.html?post_id=8696&c_id=342

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Arpan De (Articled Assistsant - CA Final) (68 Points)
Replied 10 April 2013

Thank u so much for sparing time to reply to my query. But I will be greatly benefitted if u can tell me whether the asset replacement problems or the disposal of surplus problems are applicable for the May 13 exams...