Paragraph 2 of AS 13 is decided
to be revised as under. The limited revision is shown as underlined.
“2. This Statement does not deal with:
-
the bases for recognition of
interest, dividends and rentals earned on investments which
are covered by Accounting Standard 9 on Revenue Recognition;
-
operating or finance leases;
-
investments of retirement benefit
plans and life insurance enterprises; and
-
mutual funds and venture
capital funds and/or the related asset management companies,
banks and public financial institutions formed under a Central
or State Government Act or so declared under the Companies
Act, 1956.”
The above revision comes into effect
in respect of accounting periods commencing on or after 1-4-2002.
