Category Archives: MCA Rule

small company big company cash flow companies act 2013

BIG Company = Cash Flow cash flow

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

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

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 MCA 21 Accounting Standardand 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

Notifications Description
G.S.R dated 16 Feb 2015 The Companies (Indian Accounting Standards) Rules, 2015.
Indian Accounting Standard (Ind AS) 101 First-time Adoption of Indian Accounting Standards
Indian Accounting Standard (Ind AS) 102 Share-based Payment
Indian Accounting Standard (Ind AS) 103 Business Combinations
Indian Accounting Standard (Ind AS) 104 Insurance Contracts
Indian Accounting Standard (Ind AS) 105 Non-current Assets Held for Sale and Discontinued Operations
Indian Accounting Standard (Ind AS) 106 Exploration for and Evaluation of Mineral Resources
Indian Accounting Standard (Ind AS) 107 Financial Instruments: Disclosures
Indian Accounting Standard (Ind AS) 108 Operating Segments
Indian Accounting Standard (Ind AS) 109 Financial Instruments
Indian Accounting Standard (Ind AS) 110 Consolidated Financial Statements
Indian Accounting Standard (Ind AS) 111 Joint Arrangements
Indian Accounting Standard (Ind AS) 112 Disclosure of Interests in Other Entities
Indian Accounting Standard (Ind AS) 113 Fair Value Measurement
Indian Accounting Standard (Ind AS) 114 Regulatory Deferral Accounts
Indian Accounting Standard (Ind AS) 115 Revenue from Contracts with Customers
Indian Accounting Standard (Ind AS) 1 Presentation of Financial Statements
Indian Accounting Standard (Ind AS) 2 Inventories
Indian Accounting Standard (Ind AS) 7 Statement of Cash Flows
Indian Accounting Standard (Ind AS) 8 Accounting Policies, Changes in Accounting Estimates and Errors
Indian Accounting Standard (Ind AS) 10 Events after the Reporting Period
Indian Accounting Standard (Ind AS) 12 Income Taxes
Indian Accounting Standard (Ind AS) 16 Property, Plant and Equipment
Indian Accounting Standard (Ind AS) 17 Leases
Indian Accounting Standard (Ind AS) 19 Employee Benefits
Indian Accounting Standard (Ind AS) 20 Accounting for Government Grants and Disclosure of Government Assistance
Indian Accounting Standard (Ind AS) 21 The Effects of Changes in Foreign Exchange Rates
Indian Accounting Standard (Ind AS) 23 Borrowing Costs
Indian Accounting Standard (Ind AS) 24 Related Party Disclosures
Indian Accounting Standard (Ind AS) 27 Separate Financial Statements
Indian Accounting Standard (Ind AS) 28 Investments in Associates and Joint Ventures
Indian Accounting Standard (Ind AS) 29 Financial Reporting in Hyperinflationary Economies
Indian Accounting Standard (Ind AS) 32 Financial Instruments: Presentation
Indian Accounting Standard (Ind AS) 33 Earnings per Share
Indian Accounting Standard (Ind AS) 34 Interim Financial Reporting
Indian Accounting Standard (Ind AS) 36 Impairment of Assets
Indian Accounting Standard (Ind AS) 37 Provisions, Contingent Liabilities and Contingent Assets
Indian Accounting Standard (Ind AS) 38 Intangible Assets
Indian Accounting Standard (Ind AS) 40 Investment Property
Indian Accounting Standard (Ind AS) 41 Agriculture