Section 6. Other Comprehensive Income shall be classified into

6. Other Comprehensive Income shall be classified into- - (A) Items that will not be reclassified to profit or loss - (i) Changes in revaluation surplus; - (ii) Remeasurements of the defined benefit plans; - (iii) Equity Instruments through Other Comprehensive Income; - (iv) Fair value changes relating to own credit risk of financial liabilities designated at fair value through profit or loss; - (v) Share of Other Comprehensive Income in Associates and Joint Ventures, to the extent not to be classified into profit or loss; and - (vi) Others (specify nature). - (B) Items that will be reclassified to profit or loss; - (i) Exchange differences in translating the financial statements of a foreign operation; - (ii) Debt Instruments through Other Comprehensive Income; - (iii) The effective portion of gains and loss on hedging instruments in a cash flow hedge; - (iv) Share of Other Comprehensive Income in Associates and Joint Ventures, to the extent to be classified into profit or loss; and - (v) Others (specify nature). 6. A company shall disclose the following in the Notes: A. Non-Current Assets I. Property, Plant and Equipment : (i) Classification shall be given as: - (a) Land - (b) Buildings - (c) Plant and Equipment - (d) Furniture and Fixtures - (e) Vehicles - (f) Office equipment - (g) Bearer Plants - (h) Others (specify nature) (ii) Assets under lease shall be separately specified under each class of assets. 1[(iii) A reconciliation of the gross and net carrying amounts of each class of assets at the beginning and end of the reporting period showing additions, disposals, acquisitions through business combinations, amount of change due to revaluation (if change is 10% or more in the aggregate of the net carrying value of each class of Property, Plant and Equipment) and other adjustments and the related depreciation and impairment losses or reversals shall be disclosed separately.] II. Investment Property: A reconciliation of the gross and net carrying amounts of each class of property at the beginning and end of the reporting period showing additions, disposals, acquisitions through business combinations and other adjustments and the related depreciation and impairment losses or reversals shall be disclosed separately. III Goodwill: A reconciliation of the gross and net carrying amount of goodwill at the beginning and end of the reporting period showing additions, impairments, disposals and other adjustments. IV. Other Intangible assets: - (i) Classification shall be given as: - (a) Brands or trademarks - (b) Computer software - (c) Mastheads and publishing titles - (d) Mining rights - (e) Copyrights, patents, other intellectual property rights, services and operating rights - (f) Recipes, formulae, models, designs and prototypes - (g) Licenses and franchises - (h) Others (specify nature) 2[(ii) A reconciliation of the gross and net carrying amounts of each class of assets at the beginning and end of the reporting period showing additions, disposals, acquisitions through business combinations, amount of change due to revaluation (if change is 10% or more in the aggregate of the net carrying value of each class of intangible assets) and other adjustments and the related amortization and impairment losses or reversals shall be disclosed separately.] V. Biological Assets other than bearer plants: A reconciliation of the carrying amounts of each class of assets at the beginning and end of the reporting period showing additions, disposals, acquisitions through business combinations and other adjustments shall be disclosed separately. 6. The useful lives of assets working on shift basis have been specified in the Schedule based on their single shift working. Except for assets in respect of which no extra shift depreciation is permitted (indicated by NESD in Part C above), if an asset is used for any time during the year for double shift, the depreciation will increase by 50% for that period and incase of the triple shift the depreciation shall be calculated on the basis of 100% for that period. - (i) Classification shall be given as: - (a) Brands or trademarks - (b) Computer software - (c) Mastheads and publishing titles - (d) Mining rights - (e) Copyrights, patents, other intellectual property rights, services and operating rights - (f) Recipes, formulae, models, designs and prototypes - (g) Licenses and franchises - (h) Others (specify nature) 2[(ii) A reconciliation of the gross and net carrying amounts of each class of assets at the beginning and end of the reporting period showing additions, disposals, acquisitions through business combinations, amount of change due to revaluation (if change is 10% or more in the aggregate of the net carrying value of each class of intangible assets) and other adjustments and the related amortization and impairment losses or reversals shall be disclosed separately.] V. Biological Assets other than bearer plants: A reconciliation of the carrying amounts of each class of assets at the beginning and end of the reporting period showing additions, disposals, acquisitions through business combinations and other adjustments shall be disclosed separately. 1. Subs. by Notification No. G.S.R. 207(E), dated 24th March, 2021, for item (iii) (w.e.f. 1-4-2021). 2. Subs. by Notification No. G.S.R. 207(E), dated 24th March, 2021, for item (ii) (w.e.f. 1-4-2021). VI. Investments: - (i) Investments shall be classified as: - (a) Investments in Equity Instruments; - (b) Investments in Preference Shares; - (g) Other Reserves-(specify the nature and purpose of each reserve and the amount in respect thereof); (h) Surplus i.e ., balance in Statement of Profit and Loss disclosing allocations and appropriations such as dividend, bonus shares and transfer to/ from reserves, etc.; (Additions and deductions since last balance sheet to be shown under each of the specified heads); - (ii) A reserve specifically represented by earmarked investments shall be termed as a "fund". (iii) Debit balance of statement of profit and loss shall be shown as a negative figure under the head "Surplus". Similarly, the balance of "Reserves and Surplus", after adjusting negative balance of surplus, if any, shall be shown under the head "Reserves and Surplus" even if the resulting figure is in the negative. C. Long-Term Borrowings - (i) Long-term borrowings shall be classified as: - (a) Bonds/debentures; - (b) Term loans: - (A) from banks. - (B) from other parties. - (c) Deferred payment liabilities; - (d) Deposits; - (e) Loans and advances from related parties; - (f) Long term maturities of finance lease obligations; - (g) Other loans and advances (specify nature). (ii) Borrowings shall further be sub-classified as secured and unsecured. Nature of security shall be specified separately in each case. 6. For the purpose of this Schedule, the terms used herein shall be as per the applicable Accounting Standards. - Note:— This part of Schedule sets out the minimum requirements for disclosure on the face of the Balance Sheet, and the Statement of Profit and Loss (hereinafter referred to as "Financial Statements" for the purpose of this Schedule) and Notes. Line items, sub-line items and sub-totals shall be presented as an addition or substitution 1. Subs. by G.S.R. 404(E), dated 6th April, 2016, for "GENERAL INSTURCTIONS FOR PREPARATION OF BALANCE SHEET AND STATEMENT OF PROFIT AND LOSS OF A COMPANY". 2. Subs. by G.S.R. 207(E), dated 24th March, 2021, for "Turnover" (w.e.f. 1-4-2021). 3. Subs. by G.S.R. 207 (E), dated 24[th ] March, 2021, for "may" (w.e.f. 1-4-2021). 4. Subs. by Notification No. G.S.R. 1022(E), dated 11th October, 2018, for "shall" (w.e.f. 11-10-218). on the face of the Financial Statements when such presentation is relevant to an understanding of the company's financial position or performance or to cater to industry/sector-specific disclosure requirements or when required for compliance with the amendments to the Companies Act or under the Accounting Standards. - (c) Investments in Government or trust securities; - (d) Investments in debentures or bonds; - (e) Investments in Mutual Funds; - (f) Investments in partnership firms; or - (g) Other investments (specify nature). Under each classification, details shall be given of names of the bodies corporate that are- - (i) subsidiaries, - (ii) associates, - (iii) joint ventures, or - (iv) structured entities, in whom investments have been made and the nature and extent of the investment so made in each such body corporate (showing separately investments which are partly-paid). Investments in partnership firms along alongwith names of the firms, their partners, total capital and the shares of each partner shall be disclosed separately. The following shall also be disclosed: - (a) Aggregate amount of quoted investments and market value thereof; - (b) Aggregate amount of unquoted investments; and - (c) Aggregate amount of impairment in value of investments. VII. Trade Receivables: - 1[(i) Trade receivables shall be sub-classified as: - (a) Trade Receivables considered good - Secured; - (b) Trade Receivables considered good - Unsecured; - (c) Trade Receivables which have significant increase in Credit Risk; and - (d) Trade Receivables - credit impaired.] (ii) Allowance for bad and doubtful debts shall be disclosed under the relevant heads separately. (iii) Where loans have been guaranteed by directors or others, the aggregate amount of such loans under each head shall be disclosed. (iv) Bonds/debentures (along with the rate of interest and particulars of redemption or conversion, as the case may be) shall be stated in descending order of maturity or conversion, starting from farthest redemption or conversion date, as the case may be. Where bonds/debentures are redeemable by instalments, the date of maturity for this purpose must be reckoned as the date on which the first instalment becomes due. 6. Financial Statements shall contain the corresponding amounts (comparatives) for the immediately preceding reporting period for all items shown in the Financial Statements including Notes except in the case of first Financial Statements laid before the company after incorporation. 1. Ins. by Notification No. G.S.R. 404(E), dated 6th April, 2016 (w.e.f. 6-4-2016). 2. Subs. by Notification No. G.S.R. 207(E), dated 24th March, 2021, for "Turnover" (w.e.f. 1-4-2021). (iii) Debts due by directors or other officers of the company or any of them either severally or jointly with any other person or debts due by firms or private companies respectively in which any director is a partner or a director or a member should be separately stated. 2[(iv) Trade Receivables ageing schedule (Amount in Rs.) |Particulars|Outstanding for following periods from due date of payment#|Outstanding for following periods from due date of payment#|Outstanding for following periods from due date of payment#|Outstanding for following periods from due date of payment#|Outstanding for following periods from due date of payment#|| |---|---|---|---|---|---|---| ||Less than 6<br>months|6 months -1<br>year|1-2 years|2-3 years|More than 3<br>years|Total| |(i) Undisputed Trade<br>Receivables<br>-<br>considered good<br>(ii) Undisputed Trade<br>Receivables-<br>which<br>have<br>significant<br>increase in credit risk||||||| 1. Subs. by Notification No. G.S.R. 1022(E), dated 11th October, 2018, for "VII. Trade Receivable" (w.e.f. 11-10-2018). 2. Ins. by Notification No. G.S.R. 207(E), dated 24th March, 2021, (w.e.f. 1-4-2021). (iii) Undisputed Trade Receivablescredit impaired (iv) Disputed Trade Receivablesconsidered good (v) Disputed Trade Receivables - which have significant increase in credit risk (vi) Disputed Trade Receivablescredit impaired similar information shall be given where no due date of payment is specified in that case disclosure shall be from the date of the transaction. Unbilled dues shall be disclosed separately;] VIII. Loans: - (i) Loans shall be classified as- 1* - (b) Loans to related parties (giving details thereof); and - (c) Other loans (specify nature). 2[(ii) Loans Receivables shall be sub-classified as: - (a) Loans Receivables considered good - Secured; - (b) Loans Receivables considered good - Unsecured; - (c) Loans Receivables which have significant increase in Credit Risk; and - (d) Trade Receivables - credit impaired.] (iii) Allowance for bad and doubtful loans shall be disclosed under the relevant heads separately. (iv) Loans due by directors or other officers of the company or any of them either severally or jointly with any other persons or amounts due by firms or private companies respectively in which any director is a partner or a director or a member should be separately stated. 3[IX. Other financial assets - (i) Security Deposits (ii) Bank deposits with more than 12 months maturity (iii) others (to be specified)] - IX. Other non-current assets: Other non-current assets shall be classified as- - (i) Capital Advances; and - (ii) Advances other than capital advances; - (1) Advances other than capital advances shall be classified as: - (a) Security Deposits; - (b) Advances to related parties (giving details thereof); and - (c) Other advances (specify nature). (2) Advances to directors or other officers of the company or any of them either severally or jointly with any other persons or advances to firms or private companies respectively in which any director is a partner or a director or a member should be separately stated. In case advances are of the nature of a financial asset as per relevant Ind AS, these are to be disclosed under 'other financial assets' separately. 6. Financial Statements shall contain the corresponding amounts (comparatives) for the immediately preceding reporting period for all items shown in the Financial Statements including Notes except in the case of first Financial Statements after incorporation.