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Schedule iii comp act 2013 vs rev schedule vi comp act 1956

Kriti (Article Assitant) (106 Points)

26 April 2014

What are differences between Schedule III as per Comp Act 2013 and Rev Schedule VI as per Comp Act 1956. Please explain in detail.

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10 Replies

Deepak Gupta (CA Student) (15922 Points)
Replied 27 April 2014

Schedule III of the Companies Act, 2013 contains a format for preparation and presentation of financial statements.
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Except for addition of general instructions for preparation of Consolidated Financial Statements (CFS), the format of financial statements given in the Companies Act, 2013 is the same as the revised Schedule VI notified under the Companies Act, 1956.

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Vandana J Doshi (Practising Company Secretary) (12562 Points)
Replied 28 April 2014

Agree with Deepak ji.....

CA Saurabh (md) (22 Points)
Replied 11 August 2014

hiii ...is schedule iii is applicable for november 14 xams?

Deepak Gupta (CA Student) (15922 Points)
Replied 11 August 2014

Originally posted by : Saurabh
	hiii ...is schedule iii is applicable for november 14 xams?

For CA Final - Yes || For CA IPC - No.

bhavin (Student) (29 Points)
Replied 09 October 2014

Could anyone help me by giving an illustration of making Financial Statements under Schedule III for CA final Exam Point of view!! Please reply urgently

Bhavin

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CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 01 November 2014

Yes schedule iii is applicable for nov14

Archana Chhatre (Manager) (26 Points)
Replied 16 June 2015

Dear All,

Currently i have Jan 2014 edition of MP Vijaykumar for financial reporting. it doesnt have any updates of Cos Act 2013. Can it still be used for Nov 2015 ca final attempt considering nominal changes in sch VI and Sch III of Cos act 2013. Or is it advisable to buy a new one.

Pls advise.

Regards,

Archana