company balance sheet shows surplus ( negative balance) on the asset side of the balance sheet. How it should be treated while preparing liquidator's statement?
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Dear friends,
We are a domestic Pvt Ltd company engaged in Manufacturing. We already have a (wholly owned subsidiary) domestic Pvt Ltd company. We are going to set up a new (wholly owned subsidiary) company in Dubai for manufacturing similar product, as produced in India. During next year the same will be operational.
I seek your valuable opinions on preparation of FS for FY 25-26 / applicability of Ind AS. Whether: -
1. Ind AS will be applicable.
2. It will be applicable on single or Group companies.
3. Do we have to prepare 2 sets of FS (one as per AS & other as per Ind AS)?
Thanks in advance.
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Here what is meaning of Accrued interest
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Liquidation of a company- treatment of surplus ( negative) in preparing liquidators statement