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Financial statements in Amalgamation process and AS-14

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(Querist)
01 November 2008
1.kindly clarify, whether in Amalgamation process Audited financial statements of the transfer and transferee company will be required ?

2. what is the meaning of "difference between the share capital issued and the share capital of the transferor company should be adjusted in reserves" in pooling of interest method ?
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CA Bosu babu

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CA Bosu babu (Expert)
03 November 2008 1.Yes. accounts of companies will be prepared as on date of amalgamation and this will be done by auditors

2.That means value of 100(Tranferee cos) share given for 110 rs. you have paid an excess amt so tat shd be adjusted in reserves of Transferor co
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