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.
CAclubindia
