MINISTRY OF CORPORATE AFFAIRS

NOTIFICATION

New Delhi, the 27^th February, 2018

G.S.R.191(E).—In exercise of the powers conferred by sub-sections (1) and (3) of section 128, sub section (3) of section 129, section 133, section 134, sub section (1) of 136 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Accounts) Rules, 2014, namely:-

 

1. (1) These rules may be called the Companies (Accounts) Amendment Rules, 2018.

 

(2) They shall come into force on the date of their publication in the Official Gazette.

 

2. In the Companies (Accounts) Rules, 2014 (hereinafter referred to as the principal rules), in rule 10, the following proviso shall be inserted, namely:-

 

“Provided that the Companies which are required to comply with Companies (Indian Accounting Standards) Rules, 2015   shall forward their statement in Form AOC-3A.”.

 

3. In the principal rules, in the Annexure, after Form AOC-3, the following Form shall be inserted, namely:-

 

“FORM AOC-3A

Statement containing salient features of the financial statements (Division II- Schedule III to the Companies Act, 2013)

(Pursuant to first proviso to sub-section (1) of section 136 of the Act and proviso to rule 10 of the Companies (Accounts Rules, 2014)

Form of Abridged Financial Statements Part I

Name of the Company…………………….

Abridged Balance Sheet as at ………………………

(Rupees in )

 

	Particulars	Figures as at the end of current Reporting period (dd-mm-yy)	Figures as at the end of the previous Reporting period (dd-mm-yy)	Figures as at the beginning of the previous Reporting period (dd-mm-yy)
	1	2	3	4
(1)                                               (2)	ASSETS Non-current assets Property, Plant and Equipment Capital work-in-progress Investment Property Goodwill Other Intangible assets Intangible assets under development Biological Assets other than bearer plants Financial Assets Investments Trade receivables Loans Others (to be specified) Deferred tax assets (net) Other non-current assets Current assets Inventories Financial Assets Investments Trade receivables Cash and cash equivalents Bank balances other than (iii) above Loans Others (to be specified) Current Tax Assets (Net) Other current assets
	Total Assets
(1)             (2)	EQUITY AND LIABILITIES Equity Equity Share capital Other Equity LIABILITIES Non-current liabilities (a) Financial Liabilities
(3)	Borrowings Trade payables Other financial liabilities (other than those specified in item (b), to be specified) Provisions Deferred tax liabilities (Net) Other non-current liabilities Current liabilities (a) Financial Liabilities Borrowings Trade payables Other financial liabilities (other than those specified in item (c) Other current liabilities Provisions Current Tax Liabilities (Net)
	Total Equity and Liabilities

 

Note : Column 4 is applicable when an entity is required to present the opening balance sheet in accordance with the requirements of Ind-AS.

Abridged Statement of Changes in Equity for the period ended ……………………

(Rupees in )

1. Equity Share Capital

 

Balance at the beginning of the Reporting period (dd-mm-yy)	Changes in equity share capital during the year	Balance at the  end of the Reporting period (dd-mm-yy)	Figures as at the beginning of the previous Reporting period (dd-mm-yy)*
1	2	3	4

 

2. Other Equity

 

Particulars

Balance at the beginning of the Reporting period (dd-mm-yy)

Changes in accounting policy or prior period errors

Restated balance at the beginning of the reporting period

Total comprehensive income for the year

Dividends

Transfer to retained earnings

Any other Change (to be specified)

Balance at the end of the Reporting period (dd-mm-yy)

Figures as at the beginning of the previous Reporting period (dd-mm-yy)

1

2

3

4

5

6

7

8

9*

Share application money pending allotment

Equity    component of compound financial instruments

Reserves and Surplus  Capital Reserve Securities Premium Reserve  Other Reserves (specify nature) (iv)Retained Earnings

Debt instruments through  Other Comprehensive Income

Equity instruments through Other Comprehensive Income

Effective portion of Cash Flow Hedges

Revaluation Surplus

Exchange differences on translating the financial statements of a foreign operation

Other items of Other Comprehensive Income (specify nature)

Money received against share warrants

Total

* This column is applicable when an entity is required to present the Statement of Changes in Equity in accordance with the requirements of Ind- AS.

 

Part II

Abridged Statement of Profit and Loss for the period ended ………………………

(Rupees in )

 

	Particulars		Figures for the current Reporting period   (dd-mm-yy)			Figures for the previous Reporting period (dd-mm-yy)
	1		2			3
I	Revenue From Operations
II	Other Income
III	Total Income (I+II)
IV	EXPENSES Cost of materials consumed
	Purchases of Stock-in-Trade
	Changes in inventories of finished goods, Stock-in-Trade and work-in- progress
	Employee-benefits expense
	Finance costs
	Depreciation and amortization expense
	Other expenses
	Total expenses (IV)
V	Profit/(loss) before exceptional items and tax (I- IV)
VI	Exceptional Items
VII	Profit/(loss) before tax (V-VI)
VIII	Tax expense: Current tax Deferred tax
IX	Profit (Loss) for the period from continuing operations (VII-VIII)
X	Profit/(loss) from discontinued operations
XI	Tax expense of discontinued operations
XII	Profit/ (loss) from Discontinued operations (after tax) (X-XI)
XIII	Profit/(loss) for the period (IX+XII)
XIV	Other Comprehensive Income A (i) Items that will not be reclassified to profit or loss (ii) Income tax relating to items that will not be reclassified to profit or loss B (i) Items that will be reclassified to profit or loss (ii) Income tax relating to items that will be reclassified to profit or loss
XV	Total Comprehensive Income for the period (XIII+XIV)(Comprising Profit (Loss) and Other Comprehensive Income for the period)
XVI	Earnings per equity share (for continuing operation): Basic Diluted
XVII	Earnings per equity share (for discontinued operation): Basic Diluted
XVIII		Earnings per equity share (for discontinued & continuing operations) Basic Diluted

 

Part III

Abridged Cash Flow Statement

In terms of Indian Accounting Standard (Ind AS) 7, Statement of Cash Flows, the following abridged Statement of Cash Flows shall be included:

(Rupees in )

 

Particulars	Figures for the current reporting period (dd-mm-yy)	Figures for the previous reporting period (dd-mm-yy)
1	2	3
Cash flows from Operating Activities
Cash flows from Investing Activities
Cash flows from Financing Activities
Net increase/(decrease) In cash and cash equivalents
Cash and Cash Equivalents at the beginning of period
Cash and Cash Equivalents at the end of period

 

Notes to the Abridged Financial Statements

1. Complete Balance Sheet, Statement of Changes in Equity, Statement of Profit and Loss, , Statement of Cash Flows (wherever applicable) and other statements and notes thereto prepared as per the requirements of Division II to the Schedule III to the Act are available at the Company’s website at link……………………. Copy of financial statement is also available for inspection at the registered office of the company during working hours for a period of 21 days before the date of AGM.
2. The amounts to be shown here should be the same as shown in the corresponding aggregated heads in the financial statements as per Schedule III.
3. Amount, if material, by which any item shown in the financial statements are affected by any change in the accounting policy, should be disclosed separately.
4. The amount of contingent liabilities and that of commitments (to the extent not provided for) should be disclosed separately, as per Division II, Schedule III.
5. All notes forming part of the financial statements as per Schedule III to which specific attention has been drawn by the auditors or which form a subject matter of qualification by the auditor should be reproduced.
6. Any item which constitutes 20% or more of the total income or expenditure (including provisions) should be shown separately.
7. Notes shall include the notes, if any, contained in the financial statements pertaining to the following:
   1. Period and amount of defaults on the balance sheet date in repayment of borrowings (other than Trade Payables) and interest thereon.
   2. Business combination like Amalgamations, acquisitions, restructurings, and demergers during the Reporting period.
   3. Material events affecting the going concern assumption.
   4. Investigation and inspection conducted or ordered under the provisions of Companies Act, 2013.
   5. Non-compliance with any law during the Reporting period and the penalties imposed/compounding fees paid.
   6. Any other note considered significant by the management.

•  Disclosure of Related Party Transaction shall be made in terms of the requirements of Ind AS- 24.

9. Details of cash and cash equivalents shall be disclosed as follows:

 a Balances with banks;

b Cheques, drafts on hand; c Cash in hand;

d Others( specify nature)

(Separate disclosure should be made for cash and cash equivalents earmarked for specific purposes).

10. Segment Reporting shall be in the same format/details as reported in audited financial statements.

The above stated salient features of the abridged financial statements should be authenticated in the same manner as the main financial statements.

DIRECTOR’S REPORT

Salient features of Director’s Report shall be disclosed. Salient features shall include the following.

1. State of affairs of the company.
2. Details of Dividend declared.
3. Details of frauds, if any, reported.
4. Details of auditor’s qualifications and reply thereon.
5. Highlights of the company’s performances. These highlights shall be separately given for the companies material subsidiaries

CONSOLIDATED FINANCIAL STATEMENTS

Where a company is required to prepare Consolidated Financial Statements, i.e. consolidated balance sheet and consolidated statement of profit and loss, the company shall mutatis mutandis follow the requirements of Division II to the Schedule III of the Act, as applicable to a company in the preparation of balance sheet and statement of profit and loss. In addition, the consolidated financial statements shall disclose the information as per the requirements specified in the applicable Indian Accounting Standards (Ind AS) including the items specified at Serial numbers (1) and (2) under the heading “general instructions for the preparation of consolidated financial statements” contained in the said Schedule. The company should follow the above requirements mutatis mutandis while presenting the abridged consolidated financial statements.

AUDITOR’S REPORT

The Auditor’s report on unabridged financial statements shall also be attached along with this Abridged financial statements.

Note : To be certified in the same manner in which the Balance Sheet is to be certified.”.

[F. No. 1/19/2013-CL-V-Part]

K.V.R. MURTY, Jt. Secy.

Note: The principal notification was published in the Gazette of India Extraordinary, Part-II, Section 3, Sub-section (i) vide notification number G.S.R. 239(E), dated 31.03.2014 and subsequently amended vide notification number G.S.R. 723(E) dated 14.10.2014, G.S.R 37 (E) dated 16.01.2015, G.S.R. 680(E) dated 04.09.2015, G.S.R. 742(E) dated 27.07.2016 and G.S.R. 1371(E) dated 07.11.2017.