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Q. > Please Help: various reserves
please tell me about different type of reserves & their creation & use
answered Sep 07, 2011 by Ashish Karundia , New Delhi
Dear Praveen,
The type of reserves have been explained at the following linkhttp://www.svtuition.org/2009/02/types-of-reserves.html.
Hope this answers your query.
answered Sep 08, 2011 by Rohit Agarwal , KolkataM.C.
Capital Redemption Reserve (CRR) is created for redemption of Equity/Preference Shares.
Under the Companies Act, 1956, such reserve has a restricted usage and is to be created out of the profits for the year in
financial statement prepared under Indian GAAP.
Capital Redemption reserve can be utilised for paying unissued shares of the company to be issued to members of the company as fully paid shares.
answered Sep 08, 2011 by Rohit Agarwal , KolkataM.C.
SECURITIES PREMIUM
Securities premium represent the amount being difference between the issue price and the face value of the securities issued by the company. Securities premium havee been recognized as separate component of the equity. Under the Companies Act 1956,securities premium have restricted usage. Securities premium can be utilised for the purposes allowed under the Indian Companies Act, 1956 including writing off share issue expenses, for paying unissued shares of the company to be issued to members of the company as fully paid bonus shares etc..
answered Sep 08, 2011 by Rohit Agarwal , KolkataM.C.
SHARE BASED PAYMENT RESERVE
The share-based payment reserve is used to recognise the value of equity-settled share-based payment transactions provided to employees, including key management personnel, as part of their remuneration.
answered Sep 08, 2011 by Rohit Agarwal , KolkataM.C.
RETAINED EARNINGS/SURPLUS
Retained earnings comprises of the Company’s prior years’ undistributed earnings after taxes and transition adjustments made in accordance with new or revised Accounting Standard issued.
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