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+--- Thread: Conversion of Unlisted Company into Listed Company (/showthread.php?tid=6317)
Conversion of Unlisted Company into Listed Company - Spectator - 08-02-2009
Can any of you help me for the following assaignment?
Whether the accounts of a company should be prepared according to the requirements of Fourth Schedule or Fifth Schedule which at the balance sheet date is unlisted, but converted into a listed company after the balance sheet date.
Thanks in advance !
- faisal_desperado - 08-02-2009
Dear,
Where a company is unlisted and requirements of Fifth Schedule is applicable at the balance sheet date, and converted into a listed company before the accounts are authorized for issue,
In such a case, as the accounts are required to be released to public shareholders, it shall be viable to comply with the disclousure requirements of forth schedule, as far as possible, However, appropriate reasons should be disclosed if the requirements of forth schedule are not considered practicable to be implemented.
Queries shall be appreciated ,if raised.
Best Regards,
Faisal.
- farazkpmg - 08-07-2009
Simply when the company is listed then it should follow forth schedule!
- Abdur.Rehman - 08-09-2009
Little addition...
Financial Statements should also comply 4th schedule if the financial statements are consolidated financial statements, irrespective of the fact that the company is a listed company or not.