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Investments in quoted shares - how to account for under IFRS?

We have some shares purchased from the stock market.
Current investments are accounted at the lower of cost and market value.

asked Nov 28, 2012 in IFRS 1 - First-time Adoption of International Financial Standards by anonymous
edited Nov 28, 2012

1 Answer

0 votes
You can not account for quoted shares at the lower of cost and market value under IFRS. As per IAS 39 — Financial Instruments: Recognition and Measurement , these shares should be recognized as “financial assets” and classified as “FVTPL” (fair value thru profit & loss) since they are held-for-trading. These are measured at fair value initially & subsequently.
answered Feb 9, 2013 by anonymous