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What are the types of liquidity ratios?
1) Statutory Liquid Ratio 2) Cash Reserve Ratio
Who appoints the statutory auditors for a company?
shareholders
What is the meaning of statutory company?
statutory co is a company which is passed by a special act by central or state legislature.like-indian railway,icai etc. This co dont required to have its MOA because the rules $ regulation are alredy written in such Act. the audit of such co is conducted by CAG
How do you calculate amount for inventory reserve?
To calculate the inventory reserve, first determine the estimated obsolescence or shrinkage percentage based on historical data or industry standards. Then, apply this percentage to the total cost of inventory on hand. For example, if you have $100,000 in inventory and estimate a 5% reserve, the inventory reserve would be $5,000. This reserve serves to reflect potential losses in value and is recorded as a reduction in the inventory asset on the balance sheet.
What is revenue reserve and its example?
The revenue reserve is the retained earnings which are shown in the company's balance sheet as part of the shareholders' funds and are set aside to use to continue to pay dividends even if the company makes a loss. The example of the revenue reserve are the credit balance of the Profit and Loss Account, General Reserve and etc...
How the statutory reserve created under section 45 IC of rbi act can be utilised?
The same can be utilised by way of amalgmating the NBFC company with Non NBFC company.
What percentage is the statutory reserve for the banking companies?
20 percent
Is RBI a statutory body or non statutory body?
RBI is a statutory body formed under the Reserve Bank of India Act 1934 and not a constitutional body.
What type of company needs a statutory report?
public company needs a statutory report
What is Statutory Company?
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Which company is related to statutory meeting?
pubic company
What is amalgamation reserve?
Amalgamation reserve means the expenses bear by Transferee company for amalgamation with Transferor company is treated as reserve, this reserve is called as amalgamation reserve
What are the types of liquidity ratios?
1) Statutory Liquid Ratio 2) Cash Reserve Ratio
What is a Statutory financial statement?
A statutory financial statement is a financial statement of an insurance company prepared in accordance with statutory accounting standards.
How do you calculate reserve ratio?
multiplication
Who appoints the statutory auditors for a company?
shareholders
Explain the provision to statutory reserve given is the banking regulation act?
15 percent of profit after tax.
