Dear All,
Please let me know the final formula for calculate net worth to know the applicablity of Internal Audit as per CARO, 2003.
Regards,
CS Amit Kumar (CS) (463 Points)
19 December 2012
Dear All,
Please let me know the final formula for calculate net worth to know the applicablity of Internal Audit as per CARO, 2003.
Regards,
CS Amit Kumar
(CS)
(463 Points)
Replied 19 December 2012
My question about reva. Reserve and prelim expense.
some one said;
paid up + reserve including pre exp.- pre exp. - amount not written off
CA. Pratik Kumar Dokania
(Professional)
(63 Points)
Replied 20 December 2012
| Originally posted by : CS Amit Kumar | ||
|
Revaluation Reserve and Preliminary Expenditure will be excluded while calculating Net Worth. Reason: 1. Priliminary Exp. is a Ficticious Asset and these type of assets are excluded while calculating Net Worth. 2. Revaluation Reserve is just a Reserve due to Upward Valuation of Assets. Olny those Reserve should be included which is earned by Company. Revalutaion reserve is not a reserve earned by Company |
||
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
