Am Regina, a simple woman from the beautiful place, Kalakad, a village surrounded by lush green paddy fields.
I love cooking. Through this channel am trying to re-live, rediscover and revive the dishes and recipes that are becoming less common. I will also upload videos recipes of Natural Medicines prepared to cure different diseases.
I hope you will like the recipes that I post here, especially the Natural Medicines.
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CONTINGENT LIABILITIES AND COMMITMENTS AND OTHER NOTES
The revised Schedule makes a clear distinction between contingent liabilities and commitments.
It has to be sub-classified as :
Claims against the company not acknowledged as debt
Guarantees (the separate disclosures required by existing Schedule VI regarding guarantees given on behalf of directors / other officers are not required, though some of these would nevertheless be disclosed under AS 18)
Other money for which the company is contingently liable.
For example : Arrears of preference dividend and Bills under discount.
These include :
Estimated amount of contracts remaining to be executed on capital account and not provided for
Uncalled liability on shares and other investments partly paid