TMI BlogRevised Schedule VI (shall be effective from 01.04.2011).X X X X Extracts X X X X X X X X Extracts X X X X ..... AND STATEMENT OF PROFIT AND LOSS OF A COMPANY IN ADDITION TO THE NOTES INCORPORATED ABOVE THE HEADING OF BALANCE SHEET UNDER GENERAL INSTRUCTIONS 1. Where compliance with the requirements of the Act including Accounting Standards as applicable to the companies require any change in 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 forming part thereof, the same shall be made and the requirements of the Schedule VI shall stand modified accordingly. 2. The disclosure requirements specified in Part I and Part II of this Schedule are in addition to and not in substitution of the disclosure requirements specified in the Accounting Standards prescribed under the Companies Act, 1956. Additional disclosures specified in the Accounting Standards shall be made in the notes to accounts or by way of additional statement unless required to be disclosed on the face of the Financial Statements. Similarly, all other disclosures as required by the Companies Act shall be made in the notes to accounts in addition to the requirements set out in this Schedule. 3. Note ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t as at (Rupees in ) Particulars Note No. Figures as at the end of current reporting period Figures as at the end of the previous reporting period 1 2 3 4 I. I.EQUITY AND LIABILITIES (1) Shareholders funds ( a ) Share capital ( b ) Reserves and surplus ( c ) Money received against share warrants (2) Share application money pending allotment (3) Non-current liabilities ( a ) Long-term borrowings ( b ) Deferred tax liabilities (Net) ( c ) Other Long-term liabilities ( d ) Long-term provisions (4) Current liabilities ( a ) Short-term bor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on-current. 2. An operating cycle is the time between the acquisition of assets for processing and their realization in cash or cash equivalents. Where the normal operating cycle cannot be identified, it is assumed to have a duration of 12 months. 3. A liability shall be classified as current when it satisfies any of the following criteria: ( a ) it is expected to be settled in the company s normal operating cycle; ( b ) it is held primarily for the purpose of being traded; ( c ) it is due to be settled within twelve months after the reporting date; or ( d ) the company does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Terms of a liability that could, at the option of the counterparty, result in its settlement by the issue of equity instruments do not affect its classification. All other liabilities shall be classified as non-current. 4. A receivable shall be classified as a trade receivable if it is in respect of the amount due on account of goods sold or services rendered in the normal course of business. 5. A payable shall be classified as a trade payable if it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rves (specify the nature and purpose of each reserve and the amount in respect thereof);] ( h ) Surplus i.e., balance in Statement of Profit Loss disclosing allocations and appropriations such as dividend, bonus shares and transfer to/from reserves etc. (Additions and deductions since last balance sheet to be shown under each of the specified heads). ( ii ) A reserve specifically represented by earmarked investments shall be termed as a fund . ( iii ) Debit balance of statement of profit and loss shall be shown as a negative figure under the head Surplus . Similarly, the balance of Reserves and Surplus , after adjusting negative balance of surplus, if any, shall be shown under the head Reserves and Surplus even if the resulting figure is in the negative. C. Long-Term Borrowings ( i ) Long-term borrowings shall be classified as: ( a ) Bonds/debentures. ( b ) Term loans u from banks. u from other parties. ( c ) Deferred payment liabilities. ( d ) Deposits. ( e ) Loans and advances from related parties. ( f ) Long-term maturities of finance lease obligations. ( g ) Other loans and advances (spe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gs; ( e ) Income received in advance; ( f ) Unpaid dividends; ( g ) Application money received for allotment of securities and due for refund and interest accrued thereon. Share application money includes advances towards allotment of share capital. The terms and conditions including the number of shares proposed to be issued, the amount of premium, if any, and the period before which shares shall be allotted shall be disclosed. It shall also be disclosed whether the company has sufficient authorized capital to cover the share capital amount resulting from allotment of shares out of such share application money. Further, the period for which the share application money has been pending beyond the period for allotment as mentioned in the document inviting application for shares along with the reason for such share application money being pending shall be disclosed. Share application money not exceeding the issued capital and to the extent not refundable shall be shown under the head Equity and share application money to the extent refundable i.e. , the amount in excess of subscription or in case the requirements of minimum subscription are not met, shall be separat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... revaluation of assets or where sums have been added on revaluation of assets, every balance sheet subsequent to date of such write-off, or addition shall show the reduced or increased figures as applicable and shall by way of a note also show the amount of the reduction or increase as applicable together with the date thereof for the first five years subsequent to the date of such reduction or increase. K. Non-current investments ( i ) Non-current investments shall be classified as trade investments and other investments and further classified as: ( a ) Investment property; ( b ) Investments in Equity Instruments; ( c ) Investments in preference shares; ( d ) Investments in Government or trust securities; ( e ) Investments in debentures or bonds; ( f ) Investments in Mutual Funds; ( g ) Investments in partnership firms; ( h ) Other non-current investments (specify nature). Under each classification, details shall be given of names of the bodies corporate (indicating separately whether such bodies are ( i ) subsidiaries, ( ii ) associates, ( iii ) joint ventures, or ( iv ) controlled special purpose entities) in whom investments ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rent investments shall be classified as: ( a ) Investments in Equity Instruments; ( b ) Investment in Preference Shares; ( c ) Investments in Government or trust securities; ( d ) Investments in debentures or bonds; ( e ) Investments in Mutual Funds; ( f ) Investments in partnership firms; ( g ) Other investments (specify nature). Under each classification, details shall be given of names of the bodies corporate [indicating separately whether such bodies are ( i ) subsidiaries, ( ii ) associates, ( iii ) joint ventures, or ( iv ) controlled special purpose entities] in whom investments have been made and the nature and extent of the investment so made in each such body corporate (showing separately investments which are partly-paid). In regard to investments in the capital of partnership firms, the names of the firms (with the names of all their partners, total capital and the shares of each partner) shall be given. ( ii ) The following shall also be disclosed: ( a ) The basis of valuation of individual investments; ( b ) Aggregate amount of quoted investments and market value thereof; ( c ) Aggregate amount of unquot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sclosed under the relevant heads separately. ( iv ) Loans and advances due by directors or other officers of the company or any of them either severally or jointly with any other person or amounts due by firms or private companies respectively in which any director is a partner or a director or a member shall be separately stated. S. Other current assets (specify nature) This is an all-inclusive heading, which incorporates current assets that do not fit into any other asset categories. T. Contingent liabilities and commitments (to the extent not provided for) ( i ) Contingent liabilities shall be classified as: ( a ) Claims against the company not acknowledged as debt; ( b ) Guarantees; ( c ) Other money for which the company is contingently liable. ( ii ) Commitments shall be classified as: ( a ) Estimated amount of contracts remaining to be executed on capital account and not provided for; ( b ) Uncalled liability on shares and other investments partly paid; ( c ) Other commitments (specify nature). U. The amount of dividends proposed to be distributed to equity and preference shareholders for the pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xxx VIII. Extraordinary Items xxx xxx IX. Profit before tax (VII- VIII) xxx xxx X Tax expense: (1) Current tax xxx xxx (2) Deferred tax xxx xxx XI Profit (Loss) for the period from continuing operations (VII-VIII) xxx xxx XII Profit/(loss) from discontinuing operations xxx xxx XIII Tax expense of discontinuing Operations xxx xxx XIV Profit/(loss) from Discontinuing operations (after tax) (XII-XIII) xxx xxx XV Profit (Loss) for the period (XI + XIV) xxx xxx XVI Earnings per equity share: (1) Basic xxx xxx (2) Diluted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... auditor as ( a ) auditor, ( b ) for taxation matters, ( c ) for company law matters, ( d ) for management services, ( e ) for other services, ( f ) for reimbursement of expenses; ( k ) Details of items of exceptional and extraordinary nature; ( l ) Prior period items. ( ii ) ( a ) In the case of manufacturing companies,- (1) Raw materials under broad heads. (2) goods purchased under broad heads. ( b ) In the case of trading companies, purchases in respect of goods traded in by the company under broad heads. ( c ) In the case of companies rendering or supplying services, gross income derived form services rendered or supplied under broad heads. ( d ) In the case of a company, which falls under more than one of the categories mentioned in ( a ), ( b ) and ( c ) above, it shall be sufficient compliance with the requirements herein if purchases, sales and consumption of raw material and the gross income from services rendered is shown under broad heads. ( e ) In the case of other companies, gross income derived under broad heads. ( iii ) In the case of all concerns having works-in-progress, works-in-progress under br ..... X X X X Extracts X X X X X X X X Extracts X X X X
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