Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Accounting rules for classifying and valuing investments, including current vs long-term, fair value, and profit-and-loss reporting requirements.</h1> Prescribes recognition, measurement, presentation, and disclosure requirements for investments in enterprise financial statements, defining investments (excluding stock-in-trade), current investments, long-term investments, investment property, fair value, and market value. Requires investments to be classified and disclosed distinctly as current or long-term, with further statutory classification where applicable. Mandates that investment cost include acquisition charges, and that acquisitions via issue of securities or exchange be measured at fair value of consideration given (or, where clearer, the investment acquired), with specific treatment for pre-acquisition income and rights issues. Requires current investments to be carried at the lower of cost and fair value (not on a global basis), and long-term investments at cost subject to provision for other-than-temporary diminution, with all reductions/reversals recognised in profit and loss; disposal gains/losses and specified investment disclosures must be reported in profit and loss and notes.
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