Accounting standard 18

Dear All,

 

If a company (for e.g. A ltd) has transactions with other company (say, B Ltd.) during the years 2011-12 and 2012-13. But in the year 2012-13, the above companies becomes Related parties and the same is not related in the year 2011-12. So, while showing the AS-18 disclosure in the year 2012-13, the previous year figures is to be shown or to be written as nil as no relation was exist in the year 2011-12.

 

Please advice me

 

Replies (1)

Mention for the current year only as AS 18 requires disclosure relating to current year only as the relation emerged in current year.

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