Practicing CA And GST Content writer fo
660 Points
Joined August 2011
I want to clear something about schedule VI(revised) for IPCC nov 2012......befor e its revision, we had horizontal balance sheet and as per the format we had to write all the assets and liabilities in a specified order under proper headings(for eg....share capital at the top on liabilities side)......howe ver i usually never followed the order and never wrote down the headings......j ust drew up a horizontal balance sheet.....now that the vertical balance sheet is compulsory, do i have to remember the order again or i can place assets and liabilities as i want without the headings???