26 June 2009
According to As - 13, investments are classified as current and long term investments. Accounting treatment for an investment made by individual and company is as follows subject to the proper disclosure of accountign policies in financial statements. Investments classified as current investments should be carried in the financial statements at the lower of cost and fair value determined either on an individual investment basis or by category of investment, but not on an overall (or global) basis. . Investments classified as long term investments should be carried in the financial statements at cost. However, provision for diminution shall be made to recognise a decline, other than temporary, in the value of the investments, such reduction being determined and made for each investment individually. with regards, ca nishit doshi
26 June 2009
According to As - 13, investments are classified as current and long term investments. Accounting treatment for an investment made by individual and company is as follows subject to the proper disclosure of accountign policies in financial statements. Investments classified as current investments should be carried in the financial statements at the lower of cost and fair value determined either on an individual investment basis or by category of investment, but not on an overall (or global) basis. . Investments classified as long term investments should be carried in the financial statements at cost. However, provision for diminution shall be made to recognise a decline, other than temporary, in the value of the investments, such reduction being determined and made for each investment individually. with regards, ca nishit doshi
CAclubindia
