Ravi Gupta (Sr. Manager Finance) (55 Points)
04 July 2011Hi,
Can any one suggest me that,
As per AS14 under Interest of Pooling method any short or excess of Assets and Liability taken over will be adjust with Reserve & Surplus. But if there is short then under reserve and surplus from which reserve we can adjust the same (i.e. whether it will be only free reserve or any reserve).
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 04 July 2011
Free reserve namely p&l of purchasing company will be debited ICAI Opinion
CAclubindia
