How is closing stock is valued at the end of the accounting
year?
Answer Posted / 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 |
Post New Answer View All Answers
What we have to post entry for payroll processing ? (Indian payroll)
Define depreciation and its types?
Is it mendatory to provide deferred tax asset, where the management not expecting taxable profit in the subsequent financial years.
What is an over accrual?
Tell us what is a cpa?
A Lorry driver damaged shed shutter and we deduct 2000/- from his freight amount now what is the head for the Deducted amount?
What are the differences between accounting and auditing?
What is Time capital
Why you want to change???
what is the right process for input credit of Service tax. and on which service i can take credit.
Can it be possible to transfer FCRA funds to an ngo who don't have FCRA registration no.
In which term & condition excise invoice raises & for what excise invoice raise?
one bank account transaction example ebanking raj medical 500000 dr. second bank account ebanking raj medical 500000 cr what is the entry in tally erp can it is contra contry or not please explain
Was there a time when you lost the chance to engage a prospect? What happened and what did you learn?
What is the entry for closing stock value reduction?