International accounting standard No. 25: Accounting for Investments

Article Abstract:

The full text of the accounting standard entitled 'Accounting for Investments' promulgated by the Institute of Chartered Accountants of England and Wales is provided. The statement details proper accounting procedures to follow with regard to disclosing investments in the financial statements of investing corporations. Also included are definitions of the following accounting concepts: investments, current investments, long-term investments, investment property, fair value, market value and marketability. Forms, classifications, costs, disposals and transfers of investments are discussed, as are investment switching within portfolios, taxation of investments, and disclosure requirements and income statement preparation.

Investments, Disclosure statements (Accounting)

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Accounting issues: complacency out, compliance in

Article Abstract:

The 1985-86 Annual Survey of Published Accounts indicates that compliance with accounting standards could be improved in Great Britain, but also recognizes that monitoring such compliance would present several difficulties, such as agreement on the extent of compliance,the extent of depreciation, precision of standards, and the difficulty in determining from published accounts whether a company is complying with the standards or not. If monitoring is to be adopted, the profession should be prepared to impose disciplinary action.

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Accounting for leases and hire purchase contracts

Article Abstract:

The full text of the Institute of Chartered Accountants of England and Wales' accounting standard with regard to accounting for leases and 'hire purchase contracts' is provided. The accounting standard is preceded by an informal statement made by the Institute's Accounting Standards Committee chairman.

Leases

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