The document appears to be a presentation on the revised Schedule VI format for financial statements in India. It discusses some of the key changes and improvements in the revised format compared to the previous format, such as being more aligned with accounting standards and industry requirements, having a flexible structure, and being compatible with international standards to allow for convergence. It also provides an overview of some of the additional disclosure requirements for items in the statement of profit and loss and balance sheet as well as the significant accounting policies and notes.

1. 2020 SO 653(E) 30-03-2011
Revised Schedule VI SO 447(E) 28-02-2011
Monday, June 11, 2012 SO 301(E) 08-02-2011
2011
2010 SO 300(E) 08-02-2011
GSR 719(E) 16-11-2007
GSR 762(E) 13-11-2002
GSR 376(E) 22-05-2002
GSR 545(E) 01-08-2002
2000
GSR 129(E) 22-12-1999
GSR 388(E) 15-05-1995 GSR 423(E) 13-09-1996
1990 GSR 723 (E) 18-09-1990
SO 400(E) 19-04-1988
Year
1980
GSR 220 (E) 12-03-1979 GSR 220(E) 12-03-1979
Introduction
GSR 494(E) 09-11-1973 GSR 455 27-04-1974
GSR 1665 09-10-1971
1970
GSR 129 03-01-1968
GSR 78 04-01-1963
Statement of Profit and Loss
GSR 414 21-03-1961
1960
1960
Significant Accounting Policies and Additional Notes
1950
0 5 10 15 20 25
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2. Introduction
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3. Introduction
 Not in line with requirements under AS and related laws
 No place for industry specific requirements
 No specific format for Profit and Loss Account
 Measurement principles no in line with requirement
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4. Introduction
 Smart & Shackle free
 Its in line with time and requirements
 Flexible, Synchronize, Harmonize
 Compatible and Convergence ready
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5. Introduction
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6. Introduction
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7. Introduction
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8. Introduction
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9. Introduction
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10. Statement of Profit and Loss
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11. Statement of Profit and Loss
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12. Statement of Profit and Loss
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13. Statement of Profit and Loss
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14. Statement of Profit and Loss
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15. Statement of Profit and Loss
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16. Statement of Profit and Loss
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17. Statement of Profit and Loss
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18. Statement of Profit and Loss
[GIPL.3]
[AS 16 .4.e]
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19. Statement of Profit and Loss
GIPL 5.i.a
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20. Statement of Profit and Loss
GIPL 5.i.b
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21. Statement of Profit and Loss
GIPL 5.i.j
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22. Statement of Profit and Loss
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23. Statement of Profit and Loss
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24. Statement of Profit and Loss
AS 5 – 12, 13, 14 : Exceptional items
AS 5 – 4.2, 8: Extraordinary items
GI PL 5.i.k : disclosure of each items in
note
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25. Statement of Profit and Loss
AS 24 – 32.a, 32.b : Face of PL
AS 24 – 20, 23, 26, 28, 29 : Notes
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26. Statement of Profit and Loss
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27. Statement of Profit and Loss
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28. Significant Accounting Policies
and Additional Notes
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29. Significant Accounting Policies
Broad Head Reference Applicability
Basis of Preparation CA 211
Change in Accounting Policy AS 1.26
Use of Estimates GAAP
Tangible Fixed Assets AS 10, AS 11.46
Depreciation on Tangible fixed assets AS 6.20, AS 6.29
Intangible Assets AS 26
Leases AS 19
Borrowing Cost AS 16
Impairment of Assets AS 28
Mandatory Partial Subject to Transaction
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30. Significant Accounting Policies
Broad Head Reference Applicability
Government grants and subsidies AS 12
Investments AS 13
Inventories AS 2
Revenue Recognition AS 9
Foreign currency translation AS 11
Employee Benefits AS 15
AS 22, ICAI Ann DT, GN
Income taxes
MAT
Employee stock compensation cost SEBI.ESOP, GN.ESOP
Segment Reporting AS 17
Mandatory Partial Subject to Transaction
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31. Significant Accounting Policies
Broad Head Reference Applicability
Earnings per share AS 20
Provisions AS 29
Cash and cash equivalents AS 3
Derivative Instruments ICAI.Ann.Der
Amalgamation Accounting AS 14
Consolidation AS 21, AS 23, AS 27
Mandatory Partial Subject to Transaction
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32. Additional Notes
Broad Head Reference Applicability
Related Party Transactions AS 18, ASI 13
Interest in Joint Venture AS 27
Capital and other commitments GIBS.6.T
Contingent Liabilities AS 29, GIBS.6.T
Utilization of money raised through
GIBS.6.V, SEBI
public issue
Derivative instruments and unhedged
ICAI.Ann.Der
foreign currency exposure
Subsequent events AS 4.17
Loans and advances to subsidiaries Clause 32 – SEBI
MSMED disclosure Sec 22 MSMED
Mandatory Partial Subject to Transaction
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33. Additional Notes
Broad Head Reference Applicability
Value of imports calculated in CIF basis GIPL.5.viii.a
Expenditure in foreign currency (accrual) GIPL.5.viii.b
Imported and Indigenous raw
material, components and spare parts GIPL.5.viii.c
consumed
Net dividend remitted in foreign
GIPL.5.viii.d
exchange
Earnings in foreign currency (accrual) GIPL.5.viii.e
Payment to auditors GIPL.5.i.j
Mandatory Partial Subject to Transaction
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34. Q & A : Revised Schedule VI
&
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35. Abbreviations
AS Accounting Standards or notified AS
AS 19.20 Accounting Standard 19, Paragraph 20
Notified AS Accounting Standards notified under the Companies (Accounting Standards ) Rules, 2006 (as amended)
CA Companies Act, 1956
CA 211 Section 211 of the Companies Act, 1956
ICAI Institute of Chartered Accountants of India
ICAI Ann Announcement on accounting aspect issued by the ICAI
NACAS National Advisory Committee on Accounting Standards
MCA Ministry of Corporate Affairs
MSMED Micro, Small and Medium Enterprises Development Act, 2006
LA Listing Agreement
SMC Small and medium sized company
Non-SMC Company which is not a SMC
RVI Revised Schedule VI
SVI Pre-revised Schedule VI
GN Guidance Note issued by ICAI
GN.Dep Guidance Note on Accounting for depreciation in Companies
GN.ESOP Guidance Note on Accounting for Employee Share based payments
GN.MAT Guidance Note on Accounting for credit available in respect of Minimum Alternative Tax under Income tax Act, 1961
GN.RVI Guidance Note on Revised Schedule VI
GIBS General Instructions for preparation of Balance Sheet prescribed in the Revised Schedule VI
GIPL General Instructions for preparation of Statement of Profit and Loss prescribed in the Revised Schedule VI
ICAI.Ann.Der ICAI announcement on Accounting of Derivatives
ICAI.Ann.DerD ICAI announcement on Disclosures regarding Derivative Instruments
ICAI.Ann.DT ICAI announcement on Tax effect of expenses / income adjusted directly against the reserves and / or Securities Premium Account.
RVI.BS Form of balance sheet prescribed in revised Schedule VI
RVI.PL Form of statement of profit and loss prescribed in the revised Schedule VI
SEBI.ESOP SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999
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36. Thank You .
Bisworanjan Sutar .
+91 9090.732.991
brsutar@gmail.com
https://www.facebook.com/groups/KM.SRB/
http://bisworanjansutar.blogspot.in/
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