Category Archives: MCA 21
small company big company cash flow companies act 2013
BIG Company = Cash Flow
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| Small Co Sec 2 (85) as per Co act 2013 | ‘‘small company’’ means a company, other than a public company,— (i) paid-up share capital of which does not exceed fifty lakh rupees or such higher amount as may be prescribed which shall not be more than five crore rupees; or (ii) turnover of which as per its last profit and loss account does not exceed two crore rupees or such higher amount as may be prescribed which shall not be more than twenty crore rupees: 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; |
Small Company |
Big Company |
| Private Co | Public CO |
| Paid Up Capital Up To or Less Than 50 Lacs | Paid Up Capital More than 50 Lacs |
| Turnover upto 2 Cr and Less Than 2 Cr | Turnover More Than 2 Cr |
| Both Paid and Turnover Condition Must be Satisfied | Any Condition Paid and Turnover be Satisfied |
Cash Flow |
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Definition 2(40) |
“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, or in the case of a company carrying on any activity not for profit, an income and expenditure account 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) Provided that the financial statement, with respect to One Person Company, small company and dormant company, may not include the cash flow statement; It means all the companies whether private or public needs to include cash flow statement in its financial statement except the One Person Company, small company and dormant company. Now we have to check the definition of One Person Company, small company and dormant company |
| Not applicable to | Applicable to |
| Small Co | Public |
| OPC | Listed |
| Dormant | XBRL |
| BIG | |
| Format | Since the Companies Act, 2013 does not lay down any format for preparation of cash flow statement, companies will need to follow AS 3 in this regard. In respect of listed companies, the listing agreement requires the indirect method for preparing cash flow statements. Thus, under the Companies Act, 2013, non-listed companies will have a choice of either applying the direct or indirect method under AS 3 to prepare the cash flow statement. Due to the listing agreement requirement, that choice will not be available to listed companies |
Form CRA4 : Extension of time to 30-09-2015 for filing of cost audit report Financial Year 2014-2015
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
General Circular No. 12/2015
New Delhi, 01st September, 2015
Extension of time for filing of cost audit report to the Central Government for the Financial Year 2014-2015 in form CRA-4 – reg
Sir,
ln continuation to General Circular No.08/2015 dated 12.06.2015, the last date of filing of Form CRA-4 without any penalty/late fee is hereby extended upto 30th September, 2015.
2. This issues with the approval of competent authority
This circular can be read by clicking on the below mentioned link:
Companies (Indian Accounting Standards) Rules, 2015 MCA 16-02-2015 39
Companies (Indian Accounting Standards) Rules, 2015
The Ministry of Corporate Affairs has issued a Notification dated 16th February, 2015 
and has notified the road map for the applicability of the Indian Accounting Standards (Ind AS) for compliance by the class of companies specified in the said roadmap.
| Date | 16-02-2015 |
| No of Accounting Standard | 39 |
| Rule | The Companies (Indian Accounting Standards) Rules, 2015 |
Thirty Nine (39) Indian Accounting Standards shall continue to comply with Accounting Standards as prescribed in the Companies (Accounting standards) Rules, 2006.
Companies (Indian Accounting Standard) Rules, 2015