Financials Presentation Minor Change
MCA has amended Instructions For Preparation of Balance Sheet and Statement Of Profit And Loss of A Company / NBFCs vide its notification dated 11.10.2018 and accordingly for Division I Part of Schedule III ,
The words Fixed Assets has been replaced by Property,Plant & Equipment in Balance Sheet and Securities Premium Reserve has been replaced by Securities Premium.
It is important to note here that Division I of Schedule III provides format for Indian GAAP Companies whereas Division II is for IND AS Companies and Division III for NBFC’s.
Changes has been notified for Division II also,