The Hindu Business Line : Monday, April 07, 2003

Directors need to talk to the auditors
THE Companies (Amendment) Act, 2000 introduced a new Section 292A which provides for the constitution of audit committee. The constitution of such a committee is required only in case of public companies having a paid-up capital of not less than ... More

ACCOUNTANCY

How to fix price when profit goal is clear?
A FACTORY'S normal capacity is 1,20,000 units per annum. The estimated cost of production is as follows: Direct material — Rs 3.20 per unit Direct labour — Rs 2 per unit subject to a minimum of Rs 12,000 per month. Indirect ... More

Basic doubts on balance-sheet
I AM surprised to find loss being recorded as an asset in company balance-sheets. Equally hilarious is the recording of profits as liabilities. Can you please enlighten me on this score? -- Uday Chopra, e-mail This is not the first time ... More

TRENDS

Expert criminals too leave clues
STORY so far: I am back home and catch up with news, which is no different from what was known yesterday — more cases of SARS and more bombings. Suddenly, when I get the phone call from boss, I am shocked to know he is in ... More

BOOKS

Mother of all wars
SADDAM could be waging the mother of all wars, but according to N. Vittal, the war against corruption is the mother of all wars, as the back cover of his book Corruption in India puts it. Again, war is too serious to be left to the ... More

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