AS-13
This query is : Resolved
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.
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.
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.
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales return eway bill
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- REGARDING GST LIABILITY/....
- STCG FOR GOLD ETFs
- TDS related Query_Liquidated Damages
- Specified Profession
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
