Formula of net worth & cwip

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 August 2013 What is the exact formula of Net Worth ?

Whether Capital Work in Process is deducted or not from Eq+ Reserves?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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28 August 2013 It is only capital plus reserves. no need to deduct CWIP

Querist : Anonymous

Querist : Anonymous (Querist)

29 August 2013 Sir,

I got following formula from one Journal of ICAI. Don't know exact day.

Net Worth
Share Capital
(+) Reserves & Surplus
(+) Money received against share warrants
(+) Share Application money pending allotment
(-) Revaluation Reserves
(-) Deficit as per Profit & Loss A/c.
(-) Intangible Assets (Goodwill, Patents etc.)
(-) Capital Work-in-progress
(-) Fixed Assets held for sale
(-) Misc./ deferred expenditure
Net Worth

Can you pls once again confirm ? No where else I could find about CWIP.

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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29 August 2013 I am confirming my formula.