24 September 2012
Debit balance in the Statement of Profit and Loss which would arise in case of accumulated losses, is to be shown as a negative figure under the head ‘Surplus’. The aggregate amount of the balance of ‘Reserves and Surplus’, is to be shown after adjusting negative balance of surplus, if any. If the net result is negative, the negative figure is to be shown under the head ‘Reserves & Surplus’.
CAclubindia
