AS 30 - Accounting Standard (AS) 31 Financial Instruments:...

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Accounting Standard (AS) 31 Financial Instruments: Presentation Issued by The Institute of Chartered Accountants of India New Delhi
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Page 3 Contents Accounting Standard (AS) 31 Financial Instruments: Presentation OBJECTIVE Paragraphs 1-2 SCOPE 3-6 DEFINITIONS 7-31 Financial Assets and Financial Liabilities 11-20 Equity Instruments 21-22 Derivative Financial Instruments 23-27 Contracts to Buy or Sell Non-Financial Items 28-31 PRESENTATION 32-88 Liabilities and Equity 32-57 No Contractual Obligation to Deliver Cash or Another Financial Asset 34-47 Settlement in the Entity’s Own Equity Instruments 48-52 Contingent Settlement Provisions 53-54 Settlement Options 55-56 Treatment in Consolidated Financial Statements 57 Compound Financial Instruments 58-67 Treasury shares 68-70 Interest, Dividends, Losses and Gains 71-78 Offsetting a Financial Asset and a Financial Liability 79-88 Appendix A: Illustrative Examples
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Page 4 ENTITIES SUCH AS MUTUAL FUNDS AND CO- OPERATIVES WHOSE SHARE CAPITAL IS NOT EQUITY AS DEFINED IN AS 31 A1-A2 Example 1: Entities with no equity A1 Example 2: Entities with some equity A2 ACCOUNTING FOR COMPOUND FINANCIAL INSTRUMENTS A3-A18 Example 3: Separation of a compound financial instrument on initial recognition A3-A5 Example 4: Separation of a compound financial instrument with multiple embedded derivative features A6-A7 Example 5: Repurchase of a convertible instrument A8-A14 Example 6: Amendment of the terms of a convertible instrument to induce early conversion A15-A18 Appendix B: Examples of Application of Paragraphs 40 46 UNCONDITIONAL RIGHT TO REFUSE REDEMPTION (PARAGRAPH 42) B2-B5 Example 1 B2-B3 Example 2 B4-B5 PROHIBITIONS AGAINST REDEMPTION (PARAGRAPHS 43 AND 44) B6-19 Example 3 B6-B10 Example 4 B11-B13 Example 5 B14-B15 Example 6 B16-B17 Example 7 B18-B19 Appendix C: Comparison with IAS 32, Financial Instruments: Presentation
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Page 5 Accounting Standard (AS) 31 Financial Instruments: Presentation (This Accounting Standard includes paragraphs set in bold italic type and 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 its objective and the Preface to the Statements of Accounting Standards 1 .) Accounting Standard (AS) 31, Financial Instruments: Presentation , issued by the Council of the Institute of Chartered Accountants of India, comes into effect in respect of accounting periods commencing on or after 1-4-2009 and will be recommendatory in nature for an initial period of two years. This Accounting Standard will become mandatory 2 in respect of accounting periods commencing on or after 1-4-2011 for all commercial, industrial and business entities except to a Small and Medium-sized Entity, as defined below: (i) Whose equity or debt securities are not listed or are not in the process of listing on any stock exchange, whether in India or outside India; (ii) which is not a bank (including co-operative bank), financial institution or any
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This note was uploaded on 12/07/2011 for the course MBA 0001 taught by Professor Akshat during the Spring '09 term at Institute of Management Technology.

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AS 30 - Accounting Standard (AS) 31 Financial Instruments:...

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