i got a case study in which theie is a chemical company
group which has 12 companies in all, few in Europe and few
in USA, my question is should i have only 2 COA as per the
standard like US GAAP and IFRS or should i have COA based on
country location.
- 1 Answers
- 1970 Views
- I also Faced
- E-Mail Answers
Answer / Rajnish Anand
For a multinational chemical company group with operations in multiple countries, it's generally recommended to maintain separate Chart of Accounts (COAs) for each country to comply with local accounting standards. In addition to the US GAAP and IFRS COAs, you would need to create COAs based on the specific regulations of countries where your companies are located.
| Is This Answer Correct ? | 0 Yes | 0 No |
what is meant by statutory payments?
how we can calculate sundry debtors and crditors a/c?show some examples
what are all the items comes under balancesheet(liability side & asset side) step by step.& also trading and p&l account. somany companies asking this type of question . please tell me...
7 Answers IBM, IBPS, Thomson Reuters,
WHERE WE CAN USE VAT 5%,14.5%
1 Answers Airier, Automobile, Chartered Accountant, Puzzolana,
What is the difference between a cash flow statement and an accural profit & loss account ? And why do simple organisations do not feel the need for a profit and loss type of statement ?
Can we transfer balance on gl a/c to another Gl a/c if what is the process steps and tr code?
1 Answers SK Engineering, TCS,
What is Balance sheet in Tally?
Purchased 10 pcs Mouse @ 230 from TC Ltd and get another 2 pieces as free sample.
How many ways can i increase paid up capital? Can i use retained earnings and change into paid up capital? If yes, what are the entries in the books?
what is the jurnet entry ? why
what will be journal entry if bussiness is started from loan.
2 Answers State Bank of Mysore SBM,
what is capital reserve?
Audit 
