Manufacturing accounts

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manish i. darji (Querist)
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15 July 2014 Dear Sir,
how to maintain manufacturing ccounts for the co.? i.e finished good , wip ledger under which head it should be come ?

Vishnu Saboo (Expert)
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15 July 2014 FG, WIP, SCRAP, RM, STORE & SPARES etc are grouped in inventory head.

manish i. darji (Querist)
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15 July 2014 it means in current asssets ?

Vishnu Saboo (Expert)
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15 July 2014 yes, inventory is current asset

manish i. darji (Querist)
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25 July 2014 Dear Sir,
if in individual purchase gold ornaments then , should it be in drawings or investments ?

Vishnu Saboo (Expert)
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25 July 2014 its upon ur willing that why you purchases it, whether for investment or to use it personally?

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