Udemy
    •  
    •  
    •  
    •  
    •  
    •  
    •  
    •  
Subscribe
Turn what you know into an opportunity and reach millions around the world.
Learn More
Your cart is empty.
Keep shopping
Amendments in Schedule III financials format for FY 2021-22
Highest Rated
Rating: 4.6 out of 5(52 ratings)
189 students

Amendments in Schedule III financials format for FY 2021-22

Quick understanding and analysis of recent changes in Division-I (AS) and Division-II (Ind AS) requirements.
Highest Rated
Created byChintan Patel
Last updated 5/2022
English

What you'll learn

  • Understand latest Amendments in Schedule III by MCA and applicable from FY 2021-22
  • How the changes impact Format of Balance Sheet, Profit and Loss Accounts, Notes on Accounts and other Disclosures?
  • Explaining the important changes in simple language and in short time
  • Useful to professionals in practice and industry to gain practical concepts in shortest possible time and for students in understanding the amendments

Course content

7 sections • 27 lectures • 3h 10m total length

  • Schedule III of Companies Act 2013, Divisions and Applicability12:37
  • Rounding off requirements4:05
  • Course structure and brief profile of Trainer5:50

    Explore how amendments to Schedule III are grouped by balance sheet and profit and loss impact, covering disclosures, liabilities, and Indian accounting standards across sessions.

  • Self Assessment - Basic Understanding

Requirements

  • Basic understanding of Financial Statements
  • No advance knowledge on Schedule III required

Description

MCA has vide Notification dated 24th March 2021 made changes in the format of financial statements (i.e. Schedule III) for the companies required to comply with Accounting Standards (Division - I) and Indian Accounting Standards (Division - II).


The course is divided into


1. Schedule III Applicability and basics of Accounting Standards v Sch. III

2. Balance Sheet - Liability related amendments

3. Balance Sheet - Assets related amendments

4. Profit and loss statement

5. Other important amendments

6. Ind AS amendments

The course aims to provide understanding of the amendments in simplified manner. The course covers the changes relating to:

  • Rounding off

  • Trade Receivables Ageing

  • Trade Payable Ageing

  • CWIP and Intangible Assets under development ageing

  • Revenue/Income

  • Control over fund circulation

  • Ind AS amendments covering prior period errors in statement of changes in equity, lease obligation presentation, separate classification for credit impaired trade receivables

  • Changes relating to presentation of current maturity of long term borrowings, security deposits etc.

  • Transactions with Strike off companies

  • Registration of charges and satisfaction of charge

  • Benami properties

  • Borrowing based on security of current assets

  • Use of borrowing for specific purpose

  • Investment with more than 2 layers of companies

  • 11 Financial Ratio with disclosure of numerator and denominator and changes

  • Revaluation of property plant and equipments

  • Revaluation of investment property

  • Loan or advance to KMP, Related parties

  • Sharecapital - Promoter's Shareholding details

Who this course is for:

  • Students who want to learn Key Amendments in Schedule III
  • Accountants, CFO, Staff desirous to understand the changes that impact financial statements
  • Professionals to get practical insights into understanding changes and practical issues

Report abuse