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Revised schedule vi - applicable areas

SOUMYA SEN (CA FINAL STUDENT) (186 Points)

05 June 2012

Friends please help me with reagrds to areas of applicability of Revised Schedule VI. As far as I could make out it is applicable in problems of Company Final Accounts, while drawing Balance Sheet in case of amalgamation problems, while drawing balance sheet after issuing bonus, buyback, redemption of preference shares and debentures.....

I am not very sure whether this format is also applicable if question asks for Balance Sheet in case of Branch and Departmental Accounts problems...

I request you all to help me and please mention specially where Revised Schedule VI is applicable as far as our IPCC Accounts for both groups are concerned...

Thanks...

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4 Replies

Sourabh (CA FINAL) (43 Points)
Replied 06 June 2012

revised schedule vi is not applicable for may2012 and nov2012 as per my knowedge

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Sireesha Gorti (Sole Proprietor) (174 Points)
Replied 29 June 2012

Hi sowmya,

Revised sch 6 is applicable for nov'12. u can c the notification of the insti 23.05.12.

N.Naveena Maheswara Rao (Assistant manager for accounts) (1096 Points)
Replied 03 July 2012

I have verified the updated institute material. In that they have provided the balance sheets of branch and departmental accounts in old schedule VI. The reason being is they are not companies and Revised Schedule VI is applicable only for companies.