• CA Meghana Limaye
• Dr. Mahesh Abale

Today’s economic environment poses many challenges in the financial and accounting world. Country's economic growth is to an extent dependent on the Corporate Laws.The Companies Act 2013 was enacted to improve corporate governance and better transparency in the corporate sector which is imperative to inculcate confidence amongst investors in Indian market and to further strengthen regulations for the companies, keeping in view the changing economic environment as well as the growth of our economy. As per the Government Notification no. S.O. 902 (E) dated 26th March, 2014, the Schedule III became applicable for the Balance Sheet and Statement of Profit and Loss to be prepared for the financial year commencing on or after April 1, 2014. Schedule III comprises of two Divisions (presently three). Division I is applicable for Financial Statements for a company whose Financial Statements are required to comply with the Companies (Accounting Standards) Rules, 2006 while Division II is applicable for the Financial Statements for a company whose financial statements are drawn up in compliance of the Companies (Indian Accounting Standards) Rules, 2015. If we go back to the recent past the Ministry of Corporate Affairs (MCA), had replaced the earlier Schedule VI by a Revised Schedule VI wherein several changes in the presentation and disclosure requirements vis-à-vis the old Schedule VI were made. This paper is an effort to identify and study the changes made in Revised Schedule VI that have been retained in Schedule III with certain additional disclosures.

Schedule III of Companies Act 2013- Journey Beyond Revised Schedule VI(Companies Act 1956)

"Schedule III of Companies Act 2013- Journey Beyond Revised Schedule VI(Companies Act 1956)", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 2, page no.311-317, February-2019, Available :http://www.jetir.org/papers/JETIRAE06075.pdf

"Schedule III of Companies Act 2013- Journey Beyond Revised Schedule VI(Companies Act 1956)", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 2, page no. pp311-317, February-2019, Available at : http://www.jetir.org/papers/JETIRAE06075.pdf