Interested to Buy Any Domain ? << Click Here >> for more details...
How is closing stock is valued at the end of the accounting
year?
- 2 Answers
- 9159 Views
- ACS, Wipro, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / ameet narayankhedkar
Valuation of closing stock requires consideration of Income
Tax, Cenvat, Accounting Standards and Company Law. Stock
should be valued at cost or market value, whichever is
lower, as it is a prudent business practice.
| Is This Answer Correct ? | 7 Yes | 4 No |
Answer / vivek g krishnan
As Per AS-2, Inventories are Valued at lower of " Cost and NRV".
Don't confuse with Cost or NRV. Because AS specifically states the word "and".
| Is This Answer Correct ? | 0 Yes | 0 No |
What is the difference between capital expenditure & revenue expenditure
Contra asset accounts have credit balance and are an offset to a related asset account ? true or false .
distribution of gift in diwali to employee & buyer!! what's suitable expences head.
what is finance management?
what is the accounting rules?
How to do accounting entries in Accounts Payable
What are the accounting entries for branch accounts?
what is the diffrence between cash flow & cash fund?
Define retail banking?
How many indian accunting
IF SALES BILL PREPARED BY CHARGING CST 4 WHEN THERE IS CST 4 TO BE CHARGED. BUT NOT 2010-2011 CST IS 2%. NOW WE HAVE TO PREPARED CREDIT NOTE AGAINST THAT BILLS WHICH CHARGED CST4 AT THAT TIME. THEN I HAVE TO ASK THAT HOW TO MAKE CREDIT NOTE NOW I.E 2010-2011 BY CHARGING 4% OR 2% ?
Golden Rules Accounts (15th nov-2009)
Audit 
