Guidance Note on Division II – Ind As Schedule III to The Companies Act 2013 – Article Published in Corporate Professional Today Magazine

Excerpts from the Article – “The ministry of corporate (‘MCA’) affairs vide its notification dated August 29, 2013, notified that every Company registered in India under Companies Act, 2013 (‘Act’) has to prepare its Financial Statements under Schedule III of the Act. Subsequently, the MCA vide notification dated February 16, 2015, notified that the companies required to prepare their accounts in accordance with Ind – AS will follow a separate format as stated in the notification.”

“Due to this change in the Schedule – III, Industry, and professionals are facing a lot of issues in respect of preparing and presenting the Financial Statements in accordance with Division II of the Financial Statements. To facilitate preparation of financial statements, the ICAI released a Guidance note – “Guidance Note on Division II – Ind As Schedule III to The Companies Act 2013” (‘GN’) on May 24, 2017.” To Read the full Article Click here

This Article has been published in Corporate Professional Today Magazine on September 30, 2017

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