Companies Act 2013 - Financial Statements to include Cash Flow Statement and Statement for Changes in Equity

The financial statements would include Cash Flow Statements and A Statement of Changes in Equity.

Sec 2(40) of the Companies Act defines Financial Statements as follows:

“financial statement” in relation to a company, includes—

(i) a Balance Sheet as at the end of the financial year;

(ii) a Profit and Loss Account, (Income and Expenditure Account for not-for-profit companies) for the financial year;

(iii) Cash Flow Statement for the financial year;

(iv) a Statement of Changes in Equity, if applicable; and

(v) any explanatory note annexed to, or forming part of, any document referred to in sub-clause (i) to sub-clause (iv):

One Person Company, Small Company, Dormant Company are NOT required to prepaare Cash Flow Statement.

Sec 2(85) defines Small Companies as:

‘‘small company’’ means a company, other than a public company,—

(i) Paid-Up Share Capital does not exceed Rs 50 Lakhs [or such higher amount as may be prescribed which shall not be more than Rs 5 Crores]; or

(ii) Turnover of which as per its last profit and loss account does not exceed Rs 2 crore [or such higher amount as may be prescribed which shall not be more than Rs 20 crores]:

Provided that nothing in this clause shall apply to—

(A) a holding company or a subsidiary company;

(B) a company registered under section 8; or

Dormant Company
A company which is formed and registered under the Act, for a future project or to hold an asset or intellectual property and has no significant accounting transaction, such a company may make an application to the Registrar for obtaining the status of a dormant company [Section 455(1)].

A dormant company may become an active company by submitting an application to the Registrar accompanied by such documents as may be prescribed [Section 455(5)].

CA Info - industrial training

Hi Friends, Here is the list of approved insitutions eligible for imparting Industrial training Approved Organisations - Eastern Region SIEMENS LIMITED 43 SHANTI PALLY E.M.BY PASS CALCUTTA 700042 CITI BANK N.A. TATA CENTRE 41,CHOWRINGHEE ROAD CALCUTTA 700071 RECKITT & COLMAN OF INDIA LTD 41,CHOWRINGHEE ROAD CALCUTTA 700071 BRITANIA INDUSTRIES LTD . 14, TARATALA ROAD CALCUTTA 700088 ICI INDIA LTD 34, CHOWRINGHEE ROAD CALCUTTA 700071 GRASIM INDUSTRIES LTD. INDUSTRY HOUSE 14TH FLOOR, 10, CAMAC STREET KOLKATA 700017 AMERICAN EXPRESS BANK 21, OLD COURT HOUSE STREET CALCUTTA 700001 BALMER LAWRIE CO. LTD 21, NETAJI SUBHAS ROAD CALCUTTA 700001 INDIAN OIL CORPORATION LIMITED 2,GARIAHAT ROAD(S) DHAKURIA CALCUTTA 700068 SRF LIMITED EXPRESS BUILDING 1ST FLOOR BAHADUR SHAH ZAFAR MARG NEW DELHI 110002 INDIAN RAYON AND INDUSTRIES LTD RISHRA HOOGHLY 712249 PEPSI-COLA INDIA MARKETING COMPANY SREE MANJURI BLDG. SUITE NO.6 , 1ST FLOOR 8/1, MIDDLETON ROW CALCUTT...

Economic Survey 2013 Highlights

Chief Economic Advisor Raghuram Rajan tabled his first ever Economic Survey. Key features of the Survey are: GDP growth for 2012-13 is expected at 5% GDP growth for 2013-14 is expected at 6.1% to 6.7% The Average WPI Inflation has come down from 8.9% in 2011-12 to 7.6% in 2012-13 The Average CPI Inflation has increased from 8.4% in 2011-12 to 10.0% in 2012-13 Gross Fiscal Deficit has come down from 5.7% of GDP to 5.1% of GDP Revenue Deficit has come down from 4.3% of GDP to 3.5% of GDP The trade deficit increased to US$ 189.8 billion (10.2 per cent of GDP) in 2011-12 as compared to US$ 127.3 billion (7.4 per cent of GDP) during 2010-11. Current account deficit seen at 4.6% for 2013-14 Overall global economic environment remains fragile Gold imports is key contributor to inflation, imports need to be curbed LPG and Diesel prices need to be increased in line with global rates, oil subsidy is a key risk

Vikash Goel - Introduction

Hello People, Welcome to my Blog Please pardon me if u find this blog a bit unconventional, unusual and out of place. To be honest, m not a blogger and this is my Debut as far as Blogging is concerned. I am a simple, average guy from Kolkata, India. I am a CA, MS Finance, CFA (ICFAI, India), Diploma in Business Management, Bachelor of Commerce. Meanwhile for a quick look about me, visit the link below, (its become a little outdated as of now but still enough to give an idea about me) http://www.freewebs.com/vikash_goel/ www.vikashgoel.com Catch ya soon

AnonymousJune 30, 2015 at 11:46 AM
Sec 2(85) defines Small Companies as:
‘‘small company’’ means a company, other than a public company,—
(i) paid-up share capital of which does not exceed Rs 50 Lakhs or such higher amount as may be prescribed which shall not be more than Rs 5 Crores ; AND
(ii) turnover of which as per its last profit and loss account does not exceed Rs 2 crore or such higher amount as may be prescribed which shall not be more than Rs 20 crores:
Provided that nothing in this clause shall apply to—
(A) a holding company or a subsidiary company;
(B) a company registered under section 8; or
(C) a company or body corporate governed by any special Act;
UnknownJuly 24, 2015 at 11:31 AM
Should we give comparitive values for a company preparing CFS for the first time?

Investment Valuation in India

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