Fmp accounting
This query is : Open
Shanthakumar
(Querist)
17 June 2014
whether fmp to be booked on accrual basis as on 31/03/14?
CA R SEETHARAMAN
(Expert)
19 June 2014
Carrying Amount ofInvestments
31. Investments classified as current investments should be carried
in the financial statements at the lower of cost and fair value
determined either on an individual investment basis or by category of
investment, but not on an overall (or global) basis.
32. Investments classified as long term investments should be carried
in the financial statements at cost. However, provision for diminution
shall be made to recognise a decline, other than temporary, in the value of
the investments, such reduction being determined and made for each
investment individually.
Changes in Carrying Amounts of Investments
33. Any reduction in the carrying amount and any reversals of such
reductions should be charged or credited to the profit and loss statement.
31. Investments classified as current investments should be carried
in the financial statements at the lower of cost and fair value
determined either on an individual investment basis or by category of
investment, but not on an overall (or global) basis.
32. Investments classified as long term investments should be carried
in the financial statements at cost. However, provision for diminution
shall be made to recognise a decline, other than temporary, in the value of
the investments, such reduction being determined and made for each
investment individually.
Changes in Carrying Amounts of Investments
33. Any reduction in the carrying amount and any reversals of such
reductions should be charged or credited to the profit and loss statement.
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