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

Question

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

Answer 1

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.