Disclosures to be made
This query is : Resolved
31 March 2008
A company has entered into various raw material purchase contracts with suppliers for next 5 years. On 31 March 08 it is noticed that the contract value is much higher than the current market prices .
Are there any disclosures to be made in notes to accounts for the FY 2007-08?
If yes, please quote the relevant Accounting Standard.
Thanks
Are there any disclosures to be made in notes to accounts for the FY 2007-08?
If yes, please quote the relevant Accounting Standard.
Thanks
01 April 2008
Ensure closing stock as on 31.03.2008 are valued at Cost or MP which ever is lower
Disclosure - not sure.
Ensure closing stock as on 31.03.2008 are valued at Cost or MP which ever is lower
Disclosure - not sure.
S.Srinivasaraghavan
(Expert)
03 April 2008
Is the contract between interested parties/related parties. Please clarify.
11 April 2008
Please let me know the disclosure to be made in case of
1)related parties and
2)unrelated parties.
1)related parties and
2)unrelated parties.
CA. Yayati Tyagi
(Expert)
27 May 2008
related : name, nature, amt, bal as of balance sheet date
unrelated : amt, nature
unrelated : amt, nature
28 May 2008
Dear Mr.Yayati,
Please let me know which Accounting Standard deals with disclosures in case of UNRELATED party in the above case.
AS 18 deals with ONLY RELATED party disclosures.
Thanks.
Please let me know which Accounting Standard deals with disclosures in case of UNRELATED party in the above case.
AS 18 deals with ONLY RELATED party disclosures.
Thanks.
Taranjit Singh
(Expert)
27 September 2009
If this query is still pending then please post it again by updating......Good wishes.....or you can also send me a PM.
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