Old Schedule VI
1. (Op.Stk + Purchases + Direct Exps) – (Cl.Stk)
(i.e Op.Stk – Cl.Stk) are Shown under the Head Expenses.
Direct Expns are Shown Under the Sub Head Other Expns.
2. Indirect Expenses are Classified as Administrative, Financial and Selling & Distribution Expenses.
Cost and Other Expenses
3. Staff welfare Expenses Expns Details is Given in Administrative Expns Account.
4. Profit is Shown as PBT, PAT & Surplus C/f. P/L of Discontinuing Operation (if any), Tax Expns of Discontinuing Operation (if any) Should be Disclosed Separately.
EPS Should is Shown in Profit & Loss Statement itself.
B. Balance Sheet
Old Schedule VI
1. Share Holders Fund includes Sh.Capital + Reserves & Surplus.
2. Borrowing are Shown under Loan Funds. Non – Current Liabilities & Current Liabilities Respectively
3. Liabilities & Provisions are shown as Current Liabilities & Provisions.
4. Fixed Asset is Shown as Gross Block Under development.
5. Investments are shown Under application of funds under the head Investments.
6. Loans and advances are shown under Advances And Deposits.
Under Non – Current asset and Current
Assets respectively.
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New Schedule VI
1. Here, Purchase, and is shown as Cost of Sales
2. As per New Sch VI Indirect Expenses are classified as Financial
3. It is Shown Separately as Employee Benefit Expns Under the Head Expns.
4. Under New Sch VI Profit is Shown as Profit before exceptional and extraordinary items and tax, Profit before extraordinary items and tax, Profit before tax.
New Schedule VI
1. Share Holders Funds also includes
2. Loans Funds Should be Sub classified as Long term borrowings and Short term borrowings under the Heads
3. Liabilities are shown as Non Current and Current liabilities.
4. Fixed Assets is Classified as Tangible, less Depreciation = Net Block.
5. Investments are Shown as Non – Current investments and Current Investments Under Non – Current asset and Current assets respectively.
6. Loans and Advances should be shown As Long term and Short Term