Get Revised Schedule Revised Schedule-vi

Schedule-VI Balance Sheet provides the representation of company's financial position at any point in time in the Schedule VI format of Companies Act.

Schedule VI to the Companies Act, 1956 deals with the form of Balance Sheet and Profit and Loss Account and classified disclosure to be made therein and it applies uniformly to all the companies registered under the Companies Act, 1956, for the preparation of financial statements of an accounting year.

In the Old Schedule VI, details of only capital commitments were required to be disclosed. Under the Revised Schedule VI, other commitments also need to be disclosed. Loss, such as raw material consumption, stocks, purchases and sales have been simplified and replaced with the disclosure of “broad heads” only.

Unlike the Old Schedule VI, the Schedule III (and earlier Revised Schedule VI) lays down a format for the presentation of Statement of Profit and Loss. This format of Statement of Profit and Loss does not mention any appropriation item on its face.

Exceptions in Schedule-VI Profit & Loss A/c Previous Year Ungrouped : Any Ledger/Group present only in Previous Year that remain unclassified under Schedule VI Groups, will be shown under this Exception. Negative Balance of Stock : This exception indicates that the inventory of a business has negative balance.

The Revised Schedule VI requires that if compliance with the requirements of the Act including applicable Accounting Standards require any change in the treatment or disclosure including addition, amendment, substitution or deletion in the head/sub-head or any changes inter se, in the Financial Statements or statements ...

Schedule III drugs, substances, or chemicals are defined as drugs with a moderate to low potential for physical and psychological dependence. Schedule III drugs abuse potential is less than Schedule I and Schedule II drugs but more than Schedule IV.

This part of Schedule sets out the minimum requirements for disclosure on the face of the Balance Sheet, and the Statement of Profit and Loss (hereinafter referred to as "Financial Statements" for the purpose of this Schedule) and Notes.

Exceptions in Schedule-VI Profit & Loss A/c Previous Year Ungrouped : Any Ledger/Group present only in Previous Year that remain unclassified under Schedule VI Groups, will be shown under this Exception. Negative Balance of Stock : This exception indicates that the inventory of a business has negative balance.