Undisclosed reserve kept by Banking company
This query is : Resolved
01 November 2009
What is the purpose of keeping undisclosed reserve by banking company? How it is created? Is it legally allowed as it is not True & Fair picture of Financial Statement.What is the second effect of Undisclosed reserves.
01 November 2009
Undisclosed Reserves are generally described as such only in the banking industry as it applies to capital requirements and are designated as Tier 2 capital along with revaluation reserves and general provisions. Tier 1 or, core, capital is mainly composed of stockholders' equity in the company.
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