ACCOUNTING STANDARDS

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

24 February 2011 SIR/MADAM

I WANT 2 KNOW THAT IN AS-13 (INVESTMENTS)UNDER THE HEADING RECLASSIFICATION OF INV. IT WAS WRITTEN THAT

a.WHEN LONG TERM INV. R RECLASSIFIED TO CURRENT INV.THEY R VALUED AT LOWER OF COST & THEIR CARRYING AMOUNT.&

b.WHEN CURRENT INV.R RECLASSIFIED TO LONG TERM THEY R VALUED AT LOWER OF COST & FAIR VALUE.

PLEASE EXPLAIN THIS.
I KNOW THAT INVESTMENTS R CLASSIFIED INTO 2 i.e CURRENT & LONG TERM.

PLEASE HELP.

Querist : Anonymous

Querist : Anonymous (Querist)

27 February 2011 IS THERE ANYBODY 2 HELP ME.

Querist : Anonymous

Querist : Anonymous (Querist)

28 February 2011 THIS IS MY FIRST QUERY CAN ANYBODY HELP ME PLEASE.

Querist : Anonymous

Querist : Anonymous (Querist)

02 March 2011 PLZZZZZZZZZZZ
HELP
ME.

Querist : Anonymous

Querist : Anonymous (Querist)

06 March 2011 EVERYBODY GO TO SOME COACHING CLASSES

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
Follow

06 March 2011 first you give your identity then we will give proper reply for your query.
we will not give reply dear Author : Anonymous !!!

understand.....

i think you must need to coaching.

Querist : Anonymous

Querist : Anonymous (Querist)

06 March 2011 SIR I POSTED THIS QUERY ON 24 FEB & TILL NOW I HAVE NOT GOT THE REPLY.

PLEASE HELP ME SIR.IT IS MY HUMBLE REQUEST TO YOU

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
Follow

06 March 2011 first you give your identity then we will give proper reply for your query.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

06 March 2011 I AM SORRY SIR IF U WANT TO GIVE REPLY GIVE IT OTHERWISE THANKS A LOT SIR.

BALASUBRAMANYA B N

BALASUBRAMANYA B N

(Expert)
Follow

06 March 2011 Agree with ravi sir, no reply to any one who will come with anonymous name, give your identity and will do reply to your query...

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
Follow

06 March 2011 Thanks balu ji !!!

CS LLB Pulkit Gupta

CS LLB Pulkit Gupta (Expert)
Follow

06 March 2011 It's ok I will try to reply your query as for me query is more important than the identity of person (No offence to my seniors). Actually I am least bothered in knowing you. I just wanna know your query.

See whatever you have mentioned is absolutely correct .

Investments are classified as long term investments and current investments. Current investments are in the nature of current assets, although the common
practice may be to include them in investments.

Investments other than current investments are classified as long term investments, even though they may be readily marketable.

Now explanation on your query:-
The carrying amount for current investments is the lower of cost and fair value. In respect of investments for which an active market exists, market value generally provides the best evidence of fair value. The valuation of current investments at lower of cost and fair value provides a prudent method of determining the carrying amount to be stated in the balance sheet.

Long-term investments are usually carried at cost. However, when there is a decline, other than temporary, in the value of a long term investment, the carrying amount is reduced to recognise the decline.

Message likes : 1 times

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

06 March 2011 First of all learn manners which is most necessary as you are a student of a professional course.
Now coming to reply--
Please read your query again the query itself contains the reply.
Finally coming to identity part, do you think your identity is undisclosed? You are wrong as soon as you made reply after experts reply they come to know your identity by email.

CS LLB Pulkit Gupta

CS LLB Pulkit Gupta (Expert)
Follow

06 March 2011 I totally agree with Sanjay Bhaiya and Ravi ji.
I first replied to your query becoz this is our Karma in experts section. I don't want to scold you without showing you the power and knowledge of this section.
After my reply one thing for sure is that we don't need to attend any coaching class but it's u who s'd do it for yourself.
See identity is not of much importance then the manners. I have mentioned it in my reply too that I am not interested in knowing you.
Main thing is of manner and decency.
Each one in this section is a top member and u s'd respect them.
Best of luck

BALASUBRAMANYA B N

BALASUBRAMANYA B N

(Expert)
Follow

06 March 2011 YES AGREED TO SANJAY SIR, RAVI SIR AND PULKIT TOO..WE R HERE TO SOLVE THE QUERY BUT INDECENT BEHAVIOR WILL NOT TOLERATED..

Querist : Anonymous

Querist : Anonymous (Querist)

07 March 2011 I AM SO SORRY FOR THIS BEHAVIOR.I AM SORRY THAT I SAID THESE WORDS TO ALL OF YOU.

FRANKLY SPEAKING I RESPECT ALL OF U & WILL NOT SAY THESE THINGS AGAIN.

THANX FOR U R REPLY.

CS LLB Pulkit Gupta

CS LLB Pulkit Gupta (Expert)
Follow

07 March 2011 It's ok Akshit . Just go through the explanation given by me and tell me whether ur query is resolved or not.

Querist : Anonymous

Querist : Anonymous (Querist)

08 March 2011 PULKIT SIR I WANT TO NOW WHAT DOES THIS WORD RECASSIFICATION OF INV. MEAN.

I KNOW INV R CLASSIFIED INTO 2 i.e CURRENT & LONG TERM.
PLEASE REPLY SIR.