Invetsment in mutual funds
This query is : Resolved
05 November 2008
if long term investments are made in mutual funds, at what amount it will be carried in books.
bcoz as per AS15 long term investments are carried at cost whereas it is difficult to identify cost in case of mutual funds.
whether it is correct to show mutual funds at NAV as on the date of balance sheet with what reason.
bcoz as per AS15 long term investments are carried at cost whereas it is difficult to identify cost in case of mutual funds.
whether it is correct to show mutual funds at NAV as on the date of balance sheet with what reason.
05 November 2008
Cost is cost at which you made the investments. It is not correct to shw on NAV basis, which is subject to fluctuation and unrealised.
05 November 2008
Show at cost or MV which ever is lower....in case of mutual funds COST or NAV (will be provided by fund manager) as on tat date which ever is lower....
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
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Value of property in capital gain
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- SFT Cash Deposit in Current Account
- FORM 26A APPLICABILITY
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
