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    Rohan Patil is feeling Confused

    What should be the treatment of Expenditure incurred in respect of issue of Bonus Shares.?
    Should it be capitalized or totally Disallowed?

  • Audit risk is the risk that an auditor may express an inappropriate opinion ie unqualified opinion where the financial statements are materially misstated. Moreover, expressing qualified or adverse opinion where financial statements are expressing true and fair view is heights of stupidity of an auditor. Also, a business risk is not an audit risk.…Read More

  • Peer Review is done to ensure work is performed as per policies and procedures including quality control system in an audit firm while discharging their assurance and attestation assignment in level one and level two unit. On the other hand quality review is the review of quality in providing services in single assurance assignment say an audit…Read More

  • Jo kaam share price share k liye karti hai wo kaam NAV ie net asset value mutual funds k liye karti hai. ( mutual funds are purchased/sell at some NAV) moreover, one can not buy share in fraction but can buy mutual funds unit in fraction.

  • In a board meeting there may have discussion on number of agenda say 10. and there may be situation where director A has interest in agenda 1 and director B has interest in agenda 2. So, the law doesn’t prohibits them to attend the Board meeting. The requirement is to disclose interest in sec 184 and not to participate in the interested agenda.…Read More

  • Why a Company can not give loan to director?
    Logic sec 185 ( Board of directors act on behalf of company. Therefore, in substance it is one of the director of board giving himself ie director loan including any loan named as book debt, guarantee and security. Hence, sec 185 prohibits such arrangement.

  • The word ordinary resolution means votes caste in favour is greater than votes caste against by members and hence reserved for members only. ie for the same situation with directors we can not use ordinary resolution of directors. It is not appropriate and therefore always say Board resolution.

  • A company may have two or more managing directors but can not have two managers.

  • Sec 2(10) Board of director is the existence of minimum no. Of directors in a company. ie 3 in public, 2 in private and 1 in OPC. So, if in public company there are 3 directors and one died then in such situation the company has two directors remaining but ” No BOD “.

  • Who has more power if we interpret definition of Managing Director and Manager? Comment 🙃

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