Changes to Latest Schedule VI of Companies Act, 1956

Schedule VI of Companies Act stipulates the format in which every company should prepare and present its Balance Sheet and Profit & Loss account. These stipulations ensure comprehensive presentation of the financial performance and position of a company. This enables a fair comparison of the company’s performance against its own historical performance, as well as comparison with other companies. Changes to Schedule VI were brought about by MCA in March 2011. A concise description of […]