16 August 2007
Reserve and surplus can be defined as a group of all reserves and surpluses of an organisation/company. It includes general reserve, share premium reserve, CRR, DRR etc.. General reserve is a part of reserve and surplus that can be used for any unspecific purposes says general purposes and not for a specific purpose like CRR and DRR.
16 August 2007
Reserve and Surplus represent a group containing all kind of reserves. Of the group of reserves, general reserves represents the most subordinate reserve. It is also called revenue reserve. Surplus is the Balance of Profit and Loss Account or the Undistributed Earnings not transferred to any reserve.
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