Defference Of General Reserv

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mint

mint (Querist)
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16 August 2007 Hi

Please explain the difference of General Reserve with Reserve and Surpluse

CA Mani

CA Mani (Expert)
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16 August 2007 Reserves & Surplus is one head under liabilities side of the balance sheet.

General reserve is a part of reserves & surplus

Raj

Raj (Expert)
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16 August 2007 General reserve is made for unspecified purpose but under same head of Reserve & surplus.

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CA. Hitesh Aggarwal

CA. Hitesh Aggarwal (Expert)
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16 August 2007 Reserve and surplus can be defined as a group of all reserves and surpluses of an organisation/company. It includes general reserve, share premium reserve, CRR, DRR etc.. General reserve is a part of reserve and surplus that can be used for any unspecific purposes says general purposes and not for a specific purpose like CRR and DRR.

mint

mint (Querist)
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16 August 2007 thanks a lot

CA Manish Iyer

CA Manish Iyer (Expert)
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16 August 2007 Reserve and Surplus represent a group containing all kind of reserves. Of the group of reserves, general reserves represents the most subordinate reserve. It is also called revenue reserve. Surplus is the Balance of Profit and Loss Account or the Undistributed Earnings not transferred to any reserve.