2.  Applicable of Financial statement to be Prepared for Financial year commencing on or after 01 April 2011 AApplicable of Financial statement to be Prepared for Financial year commencing on or after 01 April 2011

3. Important Notes:- Important Notes:- I.Companies Act 1956 including notified accounting Standards prevails over Revised Schedule VI II.Additional Disclosure Specified by the Companies Act Including Accounting Standards shall be made in the notes on account in addition to requirement of revised schedule VI III.All items of assets and liabilities are to bifurcated between Current and non – current IV.Only in vertical format V.Depending upon turnover of the Company, the figures appearing in the Financial statement may be rounded off as below:- TurnoverRounding off (i) Less than one hundred Crore rupees To the nearest of hundreds, thousands, lakhs, millions or decimals thereof. (i) one hundred Crore rupees or more To the nearest of lakhs, millions, crores or decimals thereof.

4. Meaning of 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 the twelve months after the reporting date; or  It is cash or cash equivalent unless it is restricted from being exchanged or used to settle a liability for at least 12 months after the reporting date.  All other assets shall be classified as non current assets Meaning of NON- CURRENT ASSETS

5. Meaning of CURRENT laiabilities  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 the twelve months after the reporting date; or  The companies does not have an unconditional right to defer settlement of the liabilities for at least 12 months after the reporting date.  All other assets shall be classified as non current assets Meaning of NON- CURRENT ASSETS

6. Comparisons 01 S.No.NowBefore 01.Only vertical format PrescribedHorizontal & vertical format Prescribed 02.Prescribed format for Profit & LossNo format Prescribed for Profit & Loss 03.Details are given in NotesSchedules are required for Notes 04.Non Current & Current ClassificationNo Such Classification. 05.Number of shareholders holding 5 % or more shares, required to disclosed. Such information was not required 06.Shares allotted for consideration other than cash needs to be disclosed only for a period of 5 years immediately preceding the Balance Sheet Date. No Such Limit 07.Specific Disclosure for Share Application Money. No Specific Disclosure 08.Trade ReceivablesSundry Debtors 09.Trade PayblesSundry Creditors

7. Continued :-02 S.No.NowBefore 10.Trade Receivable outstanding for a period of 6 months or more from its due date of Payment disclose separately. Debtors outstanding for a period of 6 months or more from Invoice Date disclose separately. 11.Capital commitments and other commitments are required to be disclosed. Only Capital commitments required to Disclosed. 12.concepts of fictitious assets are eliminated and adjusted from surplus. Fictitious assets are required to be disclosed separately under the head miscellaneous expenditure at the face of Balance sheet. 13.Separate disclosure of Income of Income & Expenditure which exceeds 1% of revenue or Rs. 100,000/- whichever is higher. Separate disclosure of Income of Income & Expenditure which exceeds 1% of revenue or Rs. 5,000/- whichever is higher. 14.Net debit balance of P/L account is adjusted from Reserve & Surplus. Net debit balance of P/L account is disclosed separately. 15.Accounting Standards Prevail over schedule VI Schedule VI prevails over Accounting Standards.

8. Continued :-03 S.No.NowBefore 16.Dividend is not taken of the face of statement of Profit & Loss Dividend is required to disclosed at the face of statement of P/L 17.Appropriation of Profit are not required at the face of P/L but in note of Reserve & Surplus. Appropriation is presented at the face of statement of P/L 18.Concepts of Exceptional Items introduced. No such concept 19.It is uses “Equity & Liability “ and “Assets” as heading. It uses “Sources” and ”Application of Funds” as heading. 20.Money received against share warrants is to be disclosed separately. No such separate disclosure. 21.Calls unpiad by directors and officers to be disclosed. Calls unpaid by Directors and others were required to be disclosed. 22.Stock in trade divided in to finished goods and traded goods Term Stock in trade was used