AS 13 - 186 Accounting Standard (AS) 13 (issued 1993)...

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
186 Accounting Standard (AS) 13 (issued 1993) Accounting for Investments Contents INTRODUCTION Paragraphs 1-3 Definitions 3 EXPLANATION 4-25 Forms of Investments 4-6 Classification of Investments 7-8 Cost of Investments 9-13 Carrying Amount of Investments 14-19 Current Investments 14-16 Long-term Investments 17-19 Investment Properties 20 Disposal of Investments 21-22 Reclassification of Investments 23-24 Disclosure 25 ACCOUNTING STANDARD 26-35 Classification of Investments 26-27 Cost of Investments 28-29 30 Continued. ./. .
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
187 Carrying Amount of Investments 31-32 Changes in Carrying Amounts of Investments 33 Disposal of Investments 34 Disclosure 35 EFFECTIVE DATE 36
Background image of page 2
Accounting Standard (AS) 13* (issued 1993) Accounting forInvestments (This Accounting Standard includes paragraphs 26-35 set in bold italic type and paragraphs 1-25 set in plain type, which have equal authority. Paragraphs in bold italic type indicate the main principles. This Accounting Standard should be read in the context of the Preface to the Statements of Accounting Standards 1 .) The following is the text of Accounting Standard (AS) 13, ‘Accounting for Investments’ , issued by the Council of the Institute of Chartered Accountants of India. 2 Introduction 1. This Statement deals with accounting for investments in the financial statements of enterprises and related disclosure requirements. 3 2. This Statement does not deal with: (a) the bases for recognition of interest, dividends and rentals earned * A limited revision to this Standard has been made in 2003, pursuant to which paragraph 2 (d) of this Standard has been revised (See footnote 4 to this Standard). 1 Attention is specifically drawn to paragraph 4.3 of the Preface, according to which Accounting Standards are intended to apply only to items which are material. 2 It may be noted that this Accounting Standard is now mandatory. Reference may be made to the section titled ‘Announcement s of the Council regarding status of various documents issued by the Institute of Chartered Accountants of India’ appearing at the beginning of this Compendium for a detailed discussion on the implications of the mandatory status of an accounting standard. 3 Shares, debentures and other securities held as stock-in-trade (i.e., for sale in the ordinary course of business) are not ‘investments’ as defined in this Statement. However, the manner in which they are accounted for and disclosed in the financial statements is quite similar to that applicable in respect of current investments. Accordingly, the provisions of this Statement, to the extent that they relate to current investments, are also applicable to shares, debentures and other securities held as stock-in-trade, with suitable modifications as specified in this Statement.
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Accounting for Investments 189 on investments which are covered by Accounting Standard 9 on Revenue Recognition; (b) operating or finance leases; (c) investments of retirement benefit plans and life insurance enterprises; and (d) mutual funds and venture capital funds 4 and/or the related asset
Background image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 12

AS 13 - 186 Accounting Standard (AS) 13 (issued 1993)...

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online