05-19-2011, 02:30 AM
Well buddy it depends upon its (Private Company's) Paid-Capital,No. of Employees & other factors that requires it to prepare & follow IASs . . . A pvt co. having annual turnover not more than 20million along with number of employees in a year not more than 250 is called a SSE & it does not have to follow all IASs (only those mentioned by ICAP) & likewise if a pvt co. falls in a category of MSE then it has to follow the prescribed IASs by ICAP
( Kamran bhai & others plz correct me if i'm wrong at some point . . Thanks)
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by bilalfca</i>
<br />kamran bhai
does those pvt co. having share capital greater than 7.5m prepare their books of accounts acc. to IASs and acc. to the requirement of CO 1984?
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( Kamran bhai & others plz correct me if i'm wrong at some point . . Thanks)
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by bilalfca</i>
<br />kamran bhai
does those pvt co. having share capital greater than 7.5m prepare their books of accounts acc. to IASs and acc. to the requirement of CO 1984?
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