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[ Scorecard : 1040]
Posted On 17 August 2012 at 19:41 Report Abuse

Q- There is practical difficulty in determining quantum of closing stock and therefore its NRV cannot be determined. The valuation is done at Cost by the accountant. Give your opinions whether accountant is right?

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S Gupta
Finance Manager

[ Scorecard : 92]
Posted On 18 August 2012 at 12:25

Hi Roopali Kadam,

if u chose at cost method you can change your accouting policies accordingly and discose your changes in note accounts also.

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