Our Recommendations :-
Follow CA Final FB Page

Please provide summary on Ind AS 28 - Investments in Associates and Joint Ventures

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Prity asked almost 3 years ago

Please provide summary on Ind AS 28 - Investments in Associates and Joint Ventures

    13       1 Answer Now Comment Report
3 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Ashika answered over 2 years ago

The objective of this Standard is to prescribe the accounting for investments in associates and to set out the requirements for the application of the equity method when accounting for investments in associates and joint ventures. This Standard shall be applied by all entities that are investors with joint control of, or significant influence over, an investee. An associate is an entity over which the investor has significant influence. Consolidated financial statements are the financial statements of a group in which assets, liabilities, equity, income, expenses and cash flows of the parent and its subsidiaries are presented as those of a single economic entity. The equity method is a method of accounting whereby the investment is initially recognised at cost and adjusted thereafter for the post-acquisition change in the investor’s share of the investee’s net assets

    0       0 Comment Report
Important Note – Preparing for CA Final?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below – 
For any questions Request A Call Back  
Open uri20170510 32134 1ue0f38?1494421710 rohit agarwal answered almost 3 years ago

Please provide summary on Ind AS 28 - Investments in Associates and Joint Ventures The objective of this Standard is to prescribe the accounting for investments in associates and to set out the requirements for the application of the equity method when accounting for investments in associates and joint ventures. This Standard shall be applied by all entities that are investors with joint control of, or significant influence over, an investee. An associate is an entity over which the investor has significant influence. Consolidated financial statements are the financial statements of a group in which assets, liabilities, equity, income, expenses and cash flows of the parent and its subsidiaries are presented as those of a single economic entity. The equity method is a method of accounting whereby the investment is initially recognised at cost and adjusted thereafter for the post-acquisition change in the investor’s share of the investee’s net assets. The investor’s profit or loss includes its share of the investee’s profit or loss and the investor’s other comprehensive income includes its share of the investee’s other comprehensive income.

    3       0 Comment Report
Data?1494421730 rohit awasthi answered almost 3 years ago

Dear Friend > Ind AS 28 - Investments in Associates and Joint Ventures Ind AS 28, ‘Investments in associates and joint ventures’, requires that interests in such entities are accounted for using the equity method of accounting. An associate is an entity in which the investor has significant influence, but which is neither a subsidiary nor a joint venture of the investor. Significant influence is the power to participate in the financial and operating policy decisions of the investee, but not to control those policies. It is presumed to exist when the investor holds at least 20% of the investee’s voting power. It is presumed not to exist when less than 20% is held. These presumptions may be rebutted. A joint venture is a joint arrangement where the parties have joint control and have rights to the arrangement’s net assets. Associates and joint ventures are accounted for using the equity method unless they meet the criteria to be classified as ‘held for sale’ under Ind AS 105, ‘Non-current assets held for sale and discontinued operations’. Under the equity method, the investment in the associate or joint venture is initially carried at cost. It is increased or decreased to recognise the investor’s share of the profit or loss of the associate or joint venture after the date of acquisition. Investments in associates or joint ventures are classified as non-current assets and presented as one line item in the balance sheet (inclusive of goodwill arising on acquisition). Investments in associates or joint ventures are tested for impairment in accordance with Ind AS 36, ‘Impairment of assets’, as single assets if there are impairment indicators. If an investor’s share of its associate’s or joint venture’s losses exceeds the carrying amount of the investment, the carrying amount of the investment is reduced to nil. Recognition of further losses is discontinued, unless the investor has an obligation to fund the associate or joint venture or the investor has guaranteed to support the associate or joint venture. In the separate (non-consolidated) financial statements of the investor, the investments in associates or joint ventures are carried at cost or as financial assets in accordance with Ind AS 109. Thanks

    2       1 Comment Report
Get Notifications
Videos
Books
Notes
Loading
SIGN UP
Watch best faculty demo video classes

These top faculty video lectures will
help u prepare like nothing else can.