Can a public limited listed entity apply AS 30 in between its accounting year and apply it consistely thereafter.
5 Replies
Yogesh Bhandari
(CA FINAL Student)
(429 Points)
Replied 30 November 2011
yes, the company may apply, it is recommendatory in nature for application...
Udit
(Assistant Manager)
(26 Points)
Replied 30 November 2011
Thanks Yogesh,
Just wanted to reconfirm.. Half of the year has been passed by and now company wants to apply AS 30. Can they?
Yogesh Bhandari
(CA FINAL Student)
(429 Points)
Replied 30 November 2011
yes the company can do so,, further they have to make full disclosure as change in their A/c policies and its effects. Further the date of implementing AS 30,, For the disclosure details, you can take help of your statutory auditor or internal auditor...
Yogesh Bhandari
(CA FINAL Student)
(429 Points)
Replied 05 January 2012
mark to market losses are recording or considering or take care of losses on change in investments with time passage. It represented as day to day change in the market.
For E.g., day to day change in particular share price. Now, you purchased that at Rs. 100/- the very next movement it become rs. 80/-, you record the loss of Rs. 20/-.
However, this concept used in derivative market not in the share market / Capital market (difficult to calculate it).
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