Financial reporting

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 June 2015 MY FIRST QUERY IS: WHEN SHARE APPLICATION MONEY IS PAID TO COMPANY THROUGH BANK THEN IN THE BOOKS OF PAYER OF APPLICATION MONEY BANK ACCOUNT WILL BE CREDIT BUT WHICH ACCOUNT SHOULD BE DEBITED?

2nd - WHAT IS THE MEANING OF "FRAMEWORK FOR PREPARATION AND PRESENTATION OF FINANCIAL STATEMENTS" ISSUED BY ICAI? WHY ICAI HAS CONSIDERED NECESSARY TO ISSUE IT?

Amol S Joglekar

Amol S Joglekar (Expert)
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11 June 2015 01. in the books of payer it appears as INVESTMENT.

02.In order to obtain unanimity and harmony among the financial statements of different entities, the frame work is issued.