Disclosure requirements - investment, Auditing

Disclosure Requirements - Investment

In common terms, the following items have to be disclosed in the concern to all investments:

(a) The accounting policies about:-

  1. Verifying of carrying amount of investments
  2. The treatment of changes in market price of recent investments carried at market price
  3. The treatment of a revaluation surplus on the sale of a revalued investment

(b) The significant amounts involved in income about:-

  1. Dividends royalties, interest and rentals on long term and recent investments
  2. Losses or profits on disposals of current investments
  3.  Changes in value of which investments

(c) The market price of marketable investments whether they are not carried at market price

(d) The fair price of investment properties whether they are accounted for as long term investments and no carried at fair price

(e) Significant restrictions on the feasibility of income and proceeds of disposal of investments or the remittance

(f) For long term investments stated on revalued amounts

  1. The policy in favor of the frequency of revaluations
  2. The date about the latest revaluation
  3. The basis about revaluation and where an external value was included

(g) The movements for the time in revaluation surplus and the nature of as movements

(h) For enterprises whose main business is the holding about investments analysis of the portfolio of Investments.

Posted Date: 1/25/2013 2:37:52 AM | Location : United States







Related Discussions:- Disclosure requirements - investment, Assignment Help, Ask Question on Disclosure requirements - investment, Get Answer, Expert's Help, Disclosure requirements - investment Discussions

Write discussion on Disclosure requirements - investment
Your posts are moderated
Related Questions

Assertions about account Assertions about account balances at the duration end: a) Existence -assets, equity and liabilities interests exist. b) Obligations and Ri

Checking consolidation papers The auditor pays particular attention to the calculation of: Goodwill arising on acquisition and consolidation Pre-acquisition and post-

Share Capital - Audit Process Share capital is a special type of liability and when it has been issued during the year then verification procedures are as follows: 1. Confirm

list four assertions that relate to account balances

Q. Explain the Single Audit Act? Single Audit Act - Single Audit Act of 1984 and Single Audit Act Amendments of 1996 establish requirements for audits of states, non-profit org

Sales are shipped FOB shipping point with credit terms n/45. You have verified that the last shipping number used in 2009 was 261,336 and that numbers were used in numerical order.

Q. Explain about Wash Sale? Wash Sale - A wash sale takes place if stock or securities are sold at a LOSS and seller acquires substantially identical stock or SECURITIES 30 day

discuss the factors affecting the sufficiency of audit evidence

What are the are the advantages and disadvantages of auditing an IT firm