Dear Frienda,
Does 'Reversal of Income' needs to be approved by Board? If yes then why?
Urgent replies will be highly appreciated.
Regards
Preeti
1 Replies
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 21 July 2013
As a rule it is not required to be approved by the Board. However, in exceptional cases depending upon the quantum involved this can be highlighted in the Board meeting when accounts are approved by the Board.
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