Accounting standard 18
This query is : Resolved
14 June 2013
Dear All,
If a company (for e.g. A ltd) has transactions with other company (say, B Ltd.) during the years 2011-12 and 2012-13.
But in the year 2012-13, the above companies becomes Related parties and the same is not related in the year 2011-12.
So, while showing the AS-18 disclosure in the year 2012-13, the previous year figures is to be shown or to be written as nil as no relation was exist in the year 2011-12.
Please advice me
If a company (for e.g. A ltd) has transactions with other company (say, B Ltd.) during the years 2011-12 and 2012-13.
But in the year 2012-13, the above companies becomes Related parties and the same is not related in the year 2011-12.
So, while showing the AS-18 disclosure in the year 2012-13, the previous year figures is to be shown or to be written as nil as no relation was exist in the year 2011-12.
Please advice me
16 June 2013
You may put * mark on the Company and explained the * marked that Company becomes related party during the current year and hence previous year figure not reported as such company is not related in LY.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- Unregistered suppliers utility
- EXPORT COMMERCIAL INVOICE HSN CODE
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- Journal entry of busniess expenses
- GST not cancelled by tenant
- FORM 141 SDV query
- Form 140 tds
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
