banner_ad

Accounting standard 15

This query is : Resolved 
Profile Image

Profile Image

(Querist)
17 September 2012 Dear All,

If a private limited company is paying yearly premium of Gratuity to LIC of India, then for accounting purpose whether it is required to create asset and liability in the balance sheet as per Accounting Standard 15?

Thanks
Profile Image

CA Ayush Agarwal

Profile Image

CA Ayush Agarwal (Expert)
17 September 2012 Yes, Gratuity Payments are Covered Under AS15.
Profile Image

rajesh

Profile Image

rajesh (Querist)
17 September 2012 Thanks for reply. But I want to know how can I get the figures of Asset and Liability?
Also I would like to inform that yearly premium is paid by booking the expense of premium in profit and loss account.

Thanks
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI
ChatGPT Perplexity Claude Google AI Grok

CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details