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
- 9214 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 |
Entry of advance tax
what is the limit of cash payment in a manufacturing firm and job work related work and how much we paid to the job worker cash payment in financial year Aslam
Suppose you buy a one-year government bond that has a maturity value of Rs.1000. The market interest rate is 8 per cent. (a) How much will you pay for the bond? (b) If you purchase the bond for Rs.904.98, what interest rate will you earn from this investment?
I would like to know about advance payments to creditor & advance received from debtors in Tally ERP 9. For example, what are the ledgers should I create & what are the steps ? And please inform me what vouchers should I use for advances, for example ( payments, receipts and journal). Thank you.
pls let me know double entry of 'LEASING"
What is Inter branch accounts reconciliation
Sir, My Gross salary is 16000/- per Month and Birfication is as below Basic Salary 6400 HRA ``` 2560 Travelling con 640 Uniform Allowance 640 Bonus 1280 Professional All 640 Walfare Allowance 3840 Please inform me How much amount of TDS Regards, Ravinder
As you know any other accounting application?
In the case of stock transfer from one branch to another branch any reverse credit is applicable.
hii.. i m anura i need 30,000 urgently can i get 30,000 rps..i m doing job of accounting
Discount payble and reciveble entries what type of vochars entry pleas tell...............
FIXED Asset - What is the most used method/right method in Depreciation in India and other countries..? (ie., Straight line method,Written down value method. or etc.,). The calculation for depreciation how it stand commonly in all organization..? Is there any difference between companies and assets..? Your answer will be highly appreciated. Thanks in advance.
Audit 
