Doubt in AOC-4_Related Party Trasaction
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RAVI GARG
Oct 25, 2016, 7:21:16 AM10/25/16
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Doubt: Amount of related party transaction as per AS 18 (Balance Sheet Figure) to be enter in Form AOC-4
In Balance Sheet there are two table:
(a) Transaction during the year
(b) Balance Outstanding
What amount will be enter in AOC-4?
Eg: Amount that in B/s
In (a) Transaction during the year Investment : 100
In (b) Balance Outstanding Loans & Advances : 200
Doubt as per Company:
Whether the amount should be the:-
Transaction held during the year or 100 or
Balance Outstanding or 200 or
Total of Both 300
cspar...@gmail.com
Oct 25, 2016, 8:01:30 AM10/25/16
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In (a) Transaction during the year Investment : 100
J K
Oct 25, 2016, 9:50:00 AM10/25/16
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as per my opinion it will be Rs. 300/- because though Rs. 200 is outstanding for that year but transaction is completed.
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Regards,
Jatin K
Rajesh Jain
Oct 26, 2016, 8:20:44 AM10/26/16
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In my view, you should report Rs. 200 only which is outstanding as at the year end.
You will notice that the Heading of the item says :
III. *Financial parameters - Balance sheet items (Amount in Rupees) as on financial year end date
Further, you will notice that in many points they have added words "during the reporting period"
and no such wordings are added in point no. 22.
Therefore, we should report figures as at the year end.
Thanking you
Rajesh Kumar Jain & Co.
Rajesh Kumar Jain & Co.
302, Chetak Center,
12/2, R.N.T. Marg,
Indore - 452001
(M)094250-51070 (o) 0731-2526194
12/2, R.N.T. Marg,
Indore - 452001
(M)094250-51070 (o) 0731-2526194
RAVI GARG
Oct 26, 2016, 8:34:31 AM10/26/16
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So what about Amount as per AS-18 for P&L in AOC-4(Page 9 )
Gross value of transaction with related parties as per
AS-18 (If applicable)
Rajesh Jain
Oct 26, 2016, 9:22:51 AM10/26/16
to csmy...@googlegroups.com
In respect of P&L Item heading itself says "During the reporting period".
Thanking you
Rajesh Kumar Jain & Co.
Rajesh Kumar Jain & Co.
302, Chetak Center,
12/2, R.N.T. Marg,
Indore - 452001
(M)094250-51070 (o) 0731-2526194
12/2, R.N.T. Marg,
Indore - 452001
(M)094250-51070 (o) 0731-2526194
Ganapathi Rajendran
Oct 26, 2016, 11:27:15 AM10/26/16
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In my opinion , the Gross value of transactions which have taken place only , to be given . the balance amount is the net effect of transaction which will not reflect the actual position
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--Regards,Jatin K
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RAVI GARG
Oct 27, 2016, 6:29:40 AM10/27/16
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Thanks to All,
Still there are two way thoughts form some professionals.
I also agree with During the Period Amount.
But other views are also solicited
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