02 August 2011
section 25 companies is non profit making company but the other procedure for disclouser so Accounting Standard 18 is applicable for section 25 companies.
04 August 2011
AS 18 is applicable to the following companies: 1. Enterprises whose equity or debt securities are listed whether in India or outside India. 2. Enterprises which are in the process of listing their equity or debt securities as evidenced by the board of directors’ resolution in this regard. 3. Banks including co-operative banks. 4. Financial institutions. 5. Enterprises carrying on insurance business. 6. All commercial, industrial and business reporting enterprises, whose turnover for the immediately preceding accounting period on the basis of audited financial statements exceeds Rs. 50 crore. 7. Turnover does not include ‘other income’. 8. All commercial, industrial and business reporting enterprises having borrowings, including public deposits, in excess of Rs.10 crore at any time during the accounting period. 9. Holding and subsidiary enterprises of any one of the above at any time during the accounting period.
The enterprises which do not fall in any of the above categories are not required to apply this Standard.
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