https://www.taxtmi.com/news?id=11216 Merger of the Issue and Banking Department balance sheets into a single consolidated balance sheet is recommended, with principal items shown on the face and details in schedules. The 'Profit & Loss Account' should be renamed 'Income Statement'; unrealised valuation gains and losses must be routed through the Income Statement with corresponding net transfers to various reserves shown as a single 'Provisions' item. Accounting policy to follow IAS/IFRS generally, permit departures, carry rupee securities at fair value with revaluation via the Investment Revaluation Account, treat Oil Bonds as Held to Maturity, other securities as Available for Sale, and record repo/reverse repo as lending/borrowing. en-us Wed, 05 Jun 2013 16:28:17 +0530 Wed, 05 Jun 2013 16:28:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=11216 Merger of the Issue and Banking Department balance sheets into a single consolidated balance sheet is recommended, with principal items shown on the face and details in schedules. The 'Profit & Loss Account' should be renamed 'Income Statement'; unrealised valuation gains and losses must be routed through the Income Statement with corresponding net transfers to various reserves shown as a single 'Provisions' item. Accounting policy to follow IAS/IFRS generally, permit departures, carry rupee securities at fair value with revaluation via the Investment Revaluation Account, treat Oil Bonds as Held to Maturity, other securities as Available for Sale, and record repo/reverse repo as lending/borrowing. News - Wed, 05 Jun 2013 16:28:17 +0530 https://www.taxtmi.com/news?id=11216