Revised sch vi based questions

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yashsr

2285 Points Posted on 06 July 2012

Hello,

Certain questions regarding preparation of B/S & P/L of Pvt Ltd Companies(taking into account the revised Sch VI)

1) The format of B/S contains many items. Some of which are not relevant to a Company that I'm referring to like:

a) In 1(c) Money received against Share Warrants

b) In (2) Share Application Money pending allotment etc.

Do these items still have to be mentioned in the B/S and a 'NIL' or '0' or '-' put in front of the same or can the same be just excluded? Or is just our discretion?

2) Since schedules are abolished the info contained therein has to be shown in 'Notes to Accounts'. But is there any specific format or is it just random? Does anybody know a link to any Balance Sheet whose Notes to Accounts contain such info? Would like to see the same.

Replies (9)

niharika sureka

Assistant

75 Points Posted on 06 July 2012

No the notes which are not required are not be prepared..The items which are not there are not to be included while preparing Schedule VI..And details are in the file attached.

niharika sureka

Assistant

75 Points Posted on 06 July 2012

one more file is there

Ankit CA and CS

Manager - Accounts

204 Points Posted on 06 July 2012

Hi Yash,

For Reference you can visit either Infosys or TCS website and see there finacials they published the same there you wil get an idea as how to prepare notes..

With regards items wch are not relevant to your company no need to give the same.

Meenal Jain

25 Points Posted on 11 July 2012

Hie,

I am facing problem in rounding off..Its written that if turnover of less than Rs. 100 Crs - R/off to the nearest Hundreds, thousands, lakhs or millions or decimal thereof..

If suppose an item has a value 13563, do i have to write 13600 or can we write 13563 and where do i adjust the rounded off figure?

Again if suppose an item has value 24567.67, then do we have to write 24600 or 24568?

I am not gettin the exact meaning of decimals thereof..

I hope i get my answers:)

Ankit CA and CS

Manager - Accounts

204 Points Posted on 11 July 2012

Hi Minal,

Suppose turnover is less than 100 crs and u r willing to publish numbers in numbers rounding off to nearest hundred.

Debtors actual and full amount is Rs 13563, now in balance sheet you will give as Rs 135.63 (in '00)

If in thousand then amount will be Rs 13.54 (in '000) if in lakhs Rs 0.14 (in lakhs).

Hope dis will help you.

Meenal Jain

25 Points Posted on 11 July 2012

Thanx Ankit..I thought in in the other way:)

yashsr

2285 Points Posted on 11 July 2012

Originally posted by : Ankit CA & CS
	Hi Minal, Suppose turnover is less than 100 crs and u r willing to publish numbers in numbers rounding off to nearest hundred. Debtors actual and full amount is Rs 13563, now in balance sheet you will give as Rs 135.63 (in '00) If in thousand then amount will be Rs 13.54 (in '000) if in lakhs Rs 0.14 (in lakhs). Hope dis will help you.