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vipin (Querist)
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29 July 2010 MUTUAL FUND INVESTMENTS SHOULD BE STATED AT COST OR MARKET PRICE WHICHEVER IS LOWER.
NOW PLEASE TELL ME IF WE HAVE 10 INVESTMENTS BUT IN CASE OF 5 COST PRICE IS LOWER & IN CASE OF ANOTHER 5 INVEST. MARKET PRICE IS LOWER .
NOW PLEASE TELL ME HOW TO PROPERLY DISCLOSE IN NOTES TO A/C.
THE CLIENT IS A PVT. LTD. COMPANY.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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29 July 2010 If its a long term investment : state it at cost.

If its a short term investment : market value or cost whichever is less.

AND, for the accounting treatment all the 10 funds will be treated as different investments. So, the test of market price or cost is to be applied to each funds separately.

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