Pooja Chopda (Practising Chartered Accountant) (931 Points)
30 October 2009
CA Trinath Galla
(student)
(3130 Points)
Replied 30 October 2009
to my knowledge, there are no such exceptions for AS-4.
it is applicable to every company
CA Dhiraj Ramchandani
(CA, M. com)
(10823 Points)
Replied 30 October 2009
| " | to my knowledge, there are no such exceptions for AS-4. it is applicable to every company |
" |
ashish gupta
( student)
(1922 Points)
Replied 30 October 2009
I also think it is applicable to every co nd no such exception.
CA Trinath Galla
(student)
(3130 Points)
Replied 30 October 2009
CA Dhiraj Ramchandani
(CA, M. com)
(10823 Points)
Replied 30 October 2009
I Mean, contingencies and events occuring after B/S date are applicable to every firm, association, corporate body, etc..
So, i dnt think there must be any such provision...
But nywz, hope some real expert advice on this
Amol Gopal Kabra (CA,CS,DISA)
(Practicing CA)
(8539 Points)
Replied 30 October 2009
Every entity for whom Accounting Standards are applicable, shall follow the same in the accounting. However, these AS shall be subject to exceptions, if specifically provided. For electricity companies, only the format of maintaining the accounts is different and the reporting of financial statements is also in a different format. But this doesnot mean that the accounting principles are altogether different., Whatever may be the format for accounting and reporting, the basics of accounting shall be same for every entity. In the similar way, electricity company is no exception to it. There is no specific exception to the electricity companies from following AS 4. So, accordingly, all electricity companies have to follow the AS 4 for events occuring after the balance sheet date.
Regards,
CA. Amol G. Kabra
CAclubindia
