general reserve

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04 March 2011 please explain me the general reserve and revaluation reserve

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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04 March 2011 general reserve ----

It is a reserve created by transferring certain amount of undistributed profit for funding expansion, acquisition, paying dividends, discharging of liabilities, writing off extraordinary and/or contingent losses ,buyback and/or redemption of securities.

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CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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04 March 2011 Revaluation reserves arise when the value of an asset becomes greater than the value at which it was previously carried on the balance sheet, increasing shareholders funds .
Not every increase in value is added to the revaluation reserve, and the exact treatment depends on the history of the asset: in particular whether it has been impaired.

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