Disclosure

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akhil katara

akhil katara (Querist)
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22 October 2010 Trade investments?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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22 October 2010 Disclosure

The following information should be disclosed in the financial statements:

the accounting policies for determination of carrying amount of investments;

classification of investments as specified in paragraphs 26 and 27 above;

the amounts included in profit and loss statement for:

interest, dividends (showing separately dividends from subsidiary companies), and rentals on investments showing separately such income from long-term and current investments. Gross income should be stated, the amount of income-tax deducted at source being included under Advance Taxes Paid;

profits and losses on disposal of current investments and changes in the carrying amount of such investments; and

profits and losses on disposal of long-term investments and changes in the carrying amount of such investments;

significant restrictions on the right of ownership, realisability of investments or the remittance of income and proceeds of disposal;

the aggregate amount of quoted and unquoted investments, giving the aggregate market value of quoted investments;

other disclosures as specifically required by the relevant statute governing the enterprise.

Classification of Investments

An enterprise should disclose current investments and long-term investments distinctly in its financial statements.

Further classification of current and long-term investments should be as specified in the statute governing the enterprise. In the absence of a statutory requirement, such further classification should disclose, where applicable, investments in:

Government or Trust securities

Shares, debentures or bonds

Investment properties

Others—specifying nature.

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