Accounting standards
This query is : Resolved
27 July 2013
Hello,
My query is:
As per classification for applicability of AS done by ICAI, (Level -I, II and III)
The words used is "ALL NON-CORPORATE ENTITIES" whose turnover exceeds Rs. 50 crore......
I want to know what is the meaning of "NON CORPORATE ENTITIES"?
Does it includes company registered under Companies Act or not?
My query is:
As per classification for applicability of AS done by ICAI, (Level -I, II and III)
The words used is "ALL NON-CORPORATE ENTITIES" whose turnover exceeds Rs. 50 crore......
I want to know what is the meaning of "NON CORPORATE ENTITIES"?
Does it includes company registered under Companies Act or not?
30 July 2013
it means entities other than Company.
31 July 2013
This includes proprietorship firms, Partnership firms, Trust, Co-operative Society, Joint Ventures, marketing and procurement bodies set up by State Government etc. etc. but does not include Private Limited and Limited Companies.
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