Disclosure
This query is : Resolved
22 October 2010
Trade investments?
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.
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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