The current Calendar VI does not require companies to be required to divide assets and liabilities into current and long-term categories. As a result, certain assets that should be classified as long-term assets are included in short-term assets. For example, deposits that the entity does not intend to make within 12 months of the balance sheet closing date, the portion of credits and advances recovered after 12 months from the end date of the balance sheet, and the items of raw materials and components that are not expected to be consumed during the normal operating cycle. Similarly, long-term provisions and current provisions are accumulated. Currently, the total amount of the provision is combined with short-term commitments. The revised draft Calendar VI requires companies to classify assets and liabilities into current and long-term categories. This will certainly improve the usefulness of the balance sheet. Dear Sir I am an accountant, please send me the calendar (iii) balance sheet and profits – business loss account 2013 in Excel format . I am CA Student, studing IPCC .so please send me the revised calendar vi format to name the balance sheet and the account with other necessary details. Schedule VI to the Corporations Act, 1956 (hereafter the Act) contains the format in which companies registered under the Act establish and submit their accounts. The revised Calendar VI introduces a number of significant design changes that advance accounting standards requirements. The introduction of a new format under Schedule VI is undoubtedly a welcome step in line with changes in global accounting.
But the format in many areas reveals an incomplete composition and raises many questions about how to present a particular point under which head. Interpretations lead to different formats of representation on the part of companies and, ultimately, the unity that is the government`s intention could not be achieved. Thread discussion with ICAI is very necessary by the government to fill the bulk ends. Sir, I am a C.A-IPCC student, please send me the schdule VI format. its plesure……………. Sir, please send me the revised calendar and review Please correct the information that has been downloaded that there is no calendar concept in accordance with the revised Calendar VI. Instead, there are explanatory notes on the accounts and all breakdowns of all items on the balance sheet surface and the profit and loss account must be cross-referested to the notes. Additional information must also be disclosed in Notes to Accounts. Previously, the breakdown of all positions in “schedule” and additional information should be provided in the side notes, in combination with accounting methods.