17 August 2014
Respected Experts, Sorry for all the experts, this is what i feel nowadays, about the Experts column in this website. I dont think this column (i.e. Expert clarifying the doubts of the starters when they ask questions) has any relevance now, this is such a simple query which i have posted on 23rd July 2014 but still now it is not been answered by any Experts. I also have a doubt whether the website runners purposefully hide the questions from the experts so that it is not noticed and not answered if the question is being asked by the persons who do not join to the class which they run online. Please tell me how it has be accounted when there is a difference in the number of stocks available in hand and number of stocks shown in the stock ledger differs? Thanks & Regards, Rajesh
You are absolutely justified in making the comment on the experts column. However, if you feel the question is so simple, then it is hard to believe that you did not find an answer yourself for so many days. The experts do answer the questions which are more complicated on a priority basis. Hence your "simple" question must have taken a back seat. If you look at the column listing, there are very old queries which are still unanswered. In my opinion, this website has to be considered as an "additional" source to get "opinions" and not the "only" source for "solutions" by the querist.
20 August 2014
Coming to your query, if the stock found physically is more than the books, then the differential needs to be written off in the books. In case it is vice versa, then it has to be brought back into the books.
The accounting system would determine the accounting entries.
Also, you need to be careful while taking the decision based on the value of the differential.
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