21 October 2008
whether Defferd Tax Liability shall be included in calculation of net worth? Is there any specific accounting standard relating to such or any guidance note issued by the institute? Please suggest
21 October 2008
It is very clearly stated where it should be exhibited in Balance sheet. That is after networth, but before loans/current liablities. This clearly means that it is neither to be included in networth nor in loans/liabilities.
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