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,
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,
My question about reva. Reserve and prelim expense.
some one said;
paid up + reserve including pre exp.- pre exp. - amount not written off
| 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 |
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Gupta Sachdeva & Co. Chartered Accountants
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