Dear All,
Can anyone help by giving the format of disclosure of AS 15 under Notes to Accounts / Significant Accounting Policies.
Thanks & Regards,
V. Srinivasan
5 Replies
(Guest)
| Originally posted by :srinivasan | ||
| " | Dear All, Can anyone help by giving the format of disclosure of AS 15 under Notes to Accounts / Significant Accounting Policies. Thanks & Regards, V. Srinivasan |
" |
CA. Ravindra Parmar
(Service )
(21 Points)
Replied 29 December 2011
I have 10 employee on the roll of the company, the acturial valuation is done but no policy taken or trust created today the balance sheet is ready and audit is completed.
What will be the disclosure of above in the notes to account and policy.
Kolluru Krishna Murty
(Partner)
(315 Points)
Replied 10 January 2012
Dear Srinivasan,
"Gratuity payable to eligible employees is administered a separate Trust ,which has taken a Gratuity policy with LIC .Demands made by the Trust including the annual contribution and risk premium for the future service gratuity of the LIC policy are charged to Profit &Loss Account."
Something like this can be disclosed.
kkm
Kolluru Krishna Murty
(Partner)
(315 Points)
Replied 10 January 2012
Dear Ravindra Kumar,
"Gratuity payable to employees is provided for on the basis of an actuarial valuation at the Balance Sheet date,carried out by an independent actuary."
Some thing like the above may be disclosed.
kkm
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