Revised schedule vi

well your qusetion is not very clear to me.can u pls elaborate..are you talking about the interest/dividend part?

Schedule VI Disclosure Requirement

Non–Current Investments shall be classified as
Trade Investments and Other Investments, and
further classified as Investments in –
(a) Property,
(b) Equity Instruments,
(c) Preference Shares,
(d) Government / Trust Securities,
(e) Debentures or Bonds,
(f) Mutual Funds,
(g) Partnership Firms, and
(h) Other Non–Current Investments (specify nature).

Special Consideration/ Points under ICAI Guidance Note

• If a Debenture is to be redeemed partly within 12 months
and balance after 12 months, the amount to be redeemed
within 12 months should be disclosed as Current, and
balance as Non–Current.
• “Trade Investment” is normally understood as an
Investment made by a Company in Shares or Debentures of
another Company, to promote the trade or business of the
first Company.

Schedule VI Disclosure Requirement

Current Investments shall be classified as –
(a) Investments in Equity Instruments,
(b) Investment in Preference Shares,
(c) Investments in Government or Trust Securities,
(d) Investments in Debentures or Bonds,
(e) Investments in Mutual Funds,
(f) Investments in Partnership Firms,
(g) Other Investments (specify nature).
Notes:
1. Under each classification, details shall be given of Names of Bodies Corporate
[indicating separately whether such Bodies are – (i) Subsidiaries, (ii) Associates,
(iii) Joint Ventures, or (iv) Controlled Special Purpose Entities] in whom
Investments have been made and the nature and extent of the Investment so
made in each such Body Corporate (showing separately Investments which are
partly–paid). In regard to Investments in the Capital of Partnership Firms, the
names of the Firms (with the names of all their Partners, Total Capital and the
Shares of each Partner) shall be given.

2. The following shall also be disclosed:
(a) Basis of Valuation of individual Investments,
(b) Aggregate Amount of Quoted Investments and Market Value thereof,
(c) Aggregate Amount of Unquoted Investments,
(d) Aggregate Provision made for Diminution in Value of Investments.

Special Points under ICAI
Guidance Note

Principles given for Non–Current
Investments will apply here, to
the extent relevant. However,
Trade vs Non–Trade
Classification, is not required for
Current Investments.

In case of conflict, requirements of Companies Act or Accounting Standards will prevail over revised Schedule VI. In my view, accordingly, as per AS-13, long term investments (including current portion thereof) are carried at cost less diminution in value (other than temporary) determining separately for each investment, and should be shown as 'current portion of long term investments' .

Hi sunil kumar

I think your query is why to show some long term investments(current maturities) in current investment, while valuations rules as per AS 13 are different for long term & current investments...

Answer is Rev Schdule VI  deals with only presentation NOT valuations

you need to view both in isolation , valuations are governed as per their rules & presentations is a different matter , 

presentation made for better understanding of FS & valuations rules made for accurate results

 And i have done analysis of Rev. sch VI its most focus on current , non current   segragation of all FS items........ 

Let me be more clear on my question.

We are presenting investments named as "current investments" and "non current investments". And we are presenting current investments as defined by schedule VI. But what are current investments, is also defined by AS13. So when u present a particular item which is not defined as per standard together with items defined by standard does it give correct picture. 

And normally while presenting, we mention accounting policies and we say that the current investments are valued as per cost or market value which ever is less. So in this case current investments are not really current invesments as per AS. How we are going to value those investments??