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?
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?
Hi Roopali Kadam,
if u chose at cost method you can change your accouting policies accordingly and discose your changes in note accounts also.
O P Bagla & Co LLP
New Delhi
CA Inter
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B.Com
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New Delhi
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