1.FCCB Accounting: Very rarely you will find corporate accounting it in a proper manner. I beleive, you should write off the interest patable in the event of non-conversion, to the Share Premium at the very outset as the way Tata Chemicals has done.

 

2.Employe Benefits, Superannuation accounting : Rarely does a company properly provide for that.

 

3.Impairment of Assets: Most corporates are also very lazy in impairing their redundant assets

 

I will be much glad if some one from the accounting and auditing profession throw some light on it.

 

Regards,

 

Vivek