The Ministry of Corporate Affairs (MCA) under notifications number S.O. 447(E) and 653(E) dated 28th February, 2011 and 30.03.2011 respectively notified that the annual accounts for the financial year ending 31st March 2012 shall be prepared in accordance with the revised Schedule VI.
Hence, the new Schedule VI of the Companies Act, 1956 shall not be applicable to December, 2011 exam.
However, since any amendment coming into force before six months from the date of exam ination forms part of syllabus for exam ination and with a view to understand and appreciate the technicalities in preparation of annual accounts as per the revised Schedule VI, the students are advised to get conversant with the revised schedule.
(Courtesy : ICSI)