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Changes in Schedule VI

Changes in Schedule VI. By: Lavina Bajaj. TITLE. New Disclosures in Share Capital. A reconciliation of the number of shares outstanding at the beginning and at the end of the reporting period

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Changes in Schedule VI

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  1. Changes in Schedule VI • By: Lavina Bajaj

  2. TITLE

  3. New Disclosures in Share Capital • A reconciliation of the number of shares outstanding at the beginning and at the end of the reporting period • Shares in in the company held by each shareholder holding more than 5% share specifying the number of share held

  4. New Disclosures in Share Capital

  5. RESERVES & SURPLUS

  6. Separate disclosure of Current Liability

  7. Criteria for classifying Current Liability • It is expected to be settled in the company’s normal operating cycle. • It is held primarily for the purpose of being traded. • It is due to be settled within twelve months after the reporting date; or • The company does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Other than that all should be classified as Non Current Liabilities

  8. Borrowings

  9. Deferred Tax Assets / Liabilities

  10. Sundry Creditors

  11. LONG TERM DEBT – CURRENT MATURITY

  12. Fixed Assets

  13. Investments

  14. Criteria for classifying Current Assets • It is expected to be realized in, or is intended for sale or consumption in the company’s normal operating cycle. • It is held primarily for the purpose of being traded • It is Expected to be realized within 12 months after reporting date. • It is cash or cash equivalent unless it is restricted from being exchanged or used to settle a liability foe at least twelve months after the report date. Other than that all should be classified as Non Current Assets.

  15. Deposits

  16. Cash & Bank Balances

  17. Loans & Advances

  18. PROFIT & LOSS – EXPENSES

  19. Finance Cost

  20. Rounding off of Figures appearing in financial statement 

  21. Purchases

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