Led the assignment of Ind AS-115 implementation over a period of 1 year along with accounting checks and controls in a listed company. Articleship exposure in internal audit and direct taxation. Handled internal audits independently for 2 years. And exposure in income tax return filing, submissions to The income tax departments, attended IT hearing with seniors. Also inclined towards learning GST. Inquisitive towards learning new things that are need of the hour.
It is possible to have a negative amount in the equity. Equity of a company comprise of the share capital and reserves and surplus. In case the reserves are negative and higher in negative number than the share capital, the company will have negative equity. Reserves will be negative when the company is suffering losses or loss of one or more years is higher than the total profit of one or more years.
All info as provided by consultant.