AS 2
This query is : Resolved
03 November 2009
ICAI does not recognise LIFO, isthere any specific reason for the same..
07 November 2009
Any answers...boss?
Guest
Guest
(Expert)
09 November 2009
In Case of Lifo, Profit is recognized excess.
It means recognition of unrealized profit.
It means recognition of unrealized profit.
16 November 2009
Not necessarily if the prices show an increasing trend...i believe..
16 November 2009
LIFO method have some weekness. yes you are wright LIFO Method may reduce a profit in case of increasing in prices.
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