Inventory write downs vis-a-vis Rule 3 (5b) of CCR

Manoj Pala , Last updated: 03 August 2011 Share Follow on Google News

Inventories are measured at the lower of cost or net realizable value (NRV). If the NRV falls below the recognized costs pf an inventory item, the respective inventory items must be measured. Inventory write-downs should reflect the estimated loss in value. NRV values are not constant and may cha

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About the Author

Manoj Pala

Sr. Manager Accounts

JSK (Jai Shri Krishna) --myself, Manoj Pala, an AICWA... currently working as a Sr. Manager AccountsinSIEMENS LTD.,Mechanical Drives Division in Kharagpur, West Bengal.

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