AS 4

to my knowledge, there are no such exceptions for AS-4.

it is applicable to every company

I also think it is applicable to every co nd no such exception.

I Mean, contingencies and events occuring after B/S date are applicable to every firm, association, corporate body, etc..

So, i dnt think there must be any such provision...

But nywz, hope some real expert advice on this

Every entity for whom Accounting Standards are applicable, shall follow the same in the accounting. However, these AS shall be subject to exceptions, if specifically provided. For electricity companies, only the format of maintaining the accounts is different and the reporting of financial statements is also in a different format. But this doesnot mean that the accounting principles are altogether different., Whatever may be the format for accounting and reporting, the basics of accounting shall be same for every entity. In the similar way, electricity company is no exception to it. There is no specific exception to the electricity companies from following AS 4. So, accordingly, all electricity companies have to follow the AS 4 for events occuring after the balance sheet date.

Regards,

CA. Amol G. Kabra

itz applicable to every co.