I had a query with regards to merger effect to be given in the financials. There are 3 Companies A, B and C. B and C have got merged into A by pooling of interests method.

In this case the statutory audit of all the companies is 31 December 2012. The merger is approved by the High Court on 4 January 2013 and intimated to the ROC on 18 January 2013. However, the appointed date of merger is 1 April 2011. The Question is:-

Whether merged accounts can be prepared for the year ended 31 December 2012??

My assessment:
As per AS 14 if the When an amalgamation is effected after the balance sheet date but
before the issuance of the financial statements of either party to the
amalgamation, disclosure is made in accordance with AS 4, ‘Contingencies
and Events Occurring After the Balance Sheet Date’, but the amalgamation
is not incorporated in the financial statements.

However, while reading the same with context to AS 4 it can also be said that the condition existed on date of balance sheet and is known before signing of accounts and hence we can incorporate the same in the accounts.

Kindly advise or brain storm...

Dear Sir/ Ma'am,

What is the meaning of 'Central Statutory Audit'..??
How is it different from 'Statutory Audits'..??

COMPANY IS USING MANUAL DEBIT VOUCHERS FOR THE CASH PAYMENTS
WHERE ANY ADVANCE AMOUNT IS PAID AND THE DEBIT VOUCHER IS CREATED AND IF THE ACTUAL EXPENSES ARE LESS THAN THE ADVANCE AMOUNT AND IF CASH IS RECEIVED BACK WHAT KIND OF VOUCHER WE NEED TO USE FOR SUCH CASH RETURNS

I THINK THAT THE CASH RECEIPTS USED FOR THE REGULAR BUSINESS PURPOSE SHALL NOT BE USED FOR THIS

PLEASE GIVE ME THE FORMAT


ITS URGENT
PLEASE

HOW TO COMPUTE THE LOSS OF PAY

MONTHLY SALARY 10000
WEEK OFF AND CASUAL LEAVES 5
EXTRA LEAVES TAKEN 2
TOTAL DAYS IN A MONTH 30
DAYS PRESENT 23

WHETHER THE LOSS OF PAY SHALL BE COMPUTED AS PER A OR B STATED BELOW

A. LOSS OF PAY FOR 2 DAYS : = 10000/30*2
= 666.7

OR

B.LOSS OF PAY FOR 2 DAYS : = 1OOOO/25*2
= 800

PLEASE ANSWER THIS ITS URGENT
THANKS IN ADVANCE

Reverse charges of Service will adjusted with CENVAT credit OR it will full expenses .

please help

When liability of the company arise to get books of account audited from an internal auditor? or

Explain the condition of internal audit/

hello sir...i want to know the reverse charge applicability on labour charges if all material supplied buy us to execute construction work..party is billing only for labour supply...whether WCT rate applicable or it is covered under manpower supply.

I wish to start Internal Audit of Manufacturing company please guide me Appointment letter, questioniers, & Internal Audit report format also nessesary precautions if any taken while auditing?

NIL TDS IS DEDUCTED ON PAYMENT TO TRANSPORTERS.AND FAILED TO DISCLOSE THE SAME IN TDS RETURN(IN FLAG "T").
WHAT ARE ITS IMPLICATIONS ON TAX AUDIT REPORT?IS IT TO DISCLOSED IN TAX AUDIT REPORT??

hi good morning every one am a article student now am doing statutory audit of a company now my query is interest on fixed deposits on what basis they have to accounted the interest amount on every month and at the end of the year, actually they are accounted on receipt basis it means whenever the FD withdrawn that time only they were accounting the interest as well as principle, but my argument is as per AS9 revenue recognition if it is interest they have to accounted on accrual basis only right.. please help me in this regard


thank u
Ram