AS-13
This query is : Resolved
03 August 2010
INVESTMENTS SHOULD BE DISCLOSED AT COST OR MARKET VALUE WHICHEVER IS LOWER.
BUT PLEASE TELL ME HOW TO PRESENT 10 INVESTMENTS WHERE
IN CASE OF 5 INVEST. -- COST IS LOWER
IN CASE OF 5 INVEST. -- MARKET VALUE IS LOWER
please tell how to present as per AS -13 in "NOTES TO A/C"
BUT PLEASE TELL ME HOW TO PRESENT 10 INVESTMENTS WHERE
IN CASE OF 5 INVEST. -- COST IS LOWER
IN CASE OF 5 INVEST. -- MARKET VALUE IS LOWER
please tell how to present as per AS -13 in "NOTES TO A/C"
VINOD ARORA
(Expert)
03 August 2010
.
03 August 2010
1. > all the 10 investments are to be treated separately as 10 different investments.
2. > In case of long term investment - state it at cost. Please note in this case, lower of the cost or market value will apply only if there is a permanent reduction in value otherwise it will be in cost.
3.> for short term investments : lower of the cost or market value will apply
2. > In case of long term investment - state it at cost. Please note in this case, lower of the cost or market value will apply only if there is a permanent reduction in value otherwise it will be in cost.
3.> for short term investments : lower of the cost or market value will apply
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