ACCOUNTING STANDARDS
Querist : Anonymous
I WANT 2 KNOW THAT IN AS-13 (INVESTMENTS)UNDER THE HEADING RECLASSIFICATION OF INV. IT WAS WRITTEN THAT
a.WHEN LONG TERM INV. R RECLASSIFIED TO CURRENT INV.THEY R VALUED AT LOWER OF COST & THEIR CARRYING AMOUNT.&
b.WHEN CURRENT INV.R RECLASSIFIED TO LONG TERM THEY R VALUED AT LOWER OF COST & FAIR VALUE.
PLEASE EXPLAIN THIS.
I KNOW THAT INVESTMENTS R CLASSIFIED INTO 2 i.e CURRENT & LONG TERM.
PLEASE HELP.
Querist : Anonymous
Querist : Anonymous
Querist : Anonymous
HELP
ME.
Querist : Anonymous
we will not give reply dear Author : Anonymous !!!
understand.....
i think you must need to coaching.
Querist : Anonymous
PLEASE HELP ME SIR.IT IS MY HUMBLE REQUEST TO YOU
Querist : Anonymous
See whatever you have mentioned is absolutely correct .
Investments are classified as long term investments and current investments. Current investments are in the nature of current assets, although the common
practice may be to include them in investments.
Investments other than current investments are classified as long term investments, even though they may be readily marketable.
Now explanation on your query:-
The carrying amount for current investments is the lower of cost and fair value. In respect of investments for which an active market exists, market value generally provides the best evidence of fair value. The valuation of current investments at lower of cost and fair value provides a prudent method of determining the carrying amount to be stated in the balance sheet.
Long-term investments are usually carried at cost. However, when there is a decline, other than temporary, in the value of a long term investment, the carrying amount is reduced to recognise the decline.
Now coming to reply--
Please read your query again the query itself contains the reply.
Finally coming to identity part, do you think your identity is undisclosed? You are wrong as soon as you made reply after experts reply they come to know your identity by email.
I first replied to your query becoz this is our Karma in experts section. I don't want to scold you without showing you the power and knowledge of this section.
After my reply one thing for sure is that we don't need to attend any coaching class but it's u who s'd do it for yourself.
See identity is not of much importance then the manners. I have mentioned it in my reply too that I am not interested in knowing you.
Main thing is of manner and decency.
Each one in this section is a top member and u s'd respect them.
Best of luck
Querist : Anonymous
FRANKLY SPEAKING I RESPECT ALL OF U & WILL NOT SAY THESE THINGS AGAIN.
THANX FOR U R REPLY.
Querist : Anonymous
I KNOW INV R CLASSIFIED INTO 2 i.e CURRENT & LONG TERM.
PLEASE REPLY SIR.
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