As 2
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 September 2011
fact:-
assessee is engaged in the trading books.
there is non move/slow moving items hold
at warehouse.
As per as-2 it should value at lower of cost & NRV
query:-
how to judge the net realiable value?
which are the source to determineNRV? OR
WHAT ARE THE PARAMETER to judge the NRV?
assessee is engaged in the trading books.
there is non move/slow moving items hold
at warehouse.
As per as-2 it should value at lower of cost & NRV
query:-
how to judge the net realiable value?
which are the source to determineNRV? OR
WHAT ARE THE PARAMETER to judge the NRV?
05 September 2011
as per AS2- Finished goods are to be shown at lower of NRV or cost
and Raw material shall be shown at Cost.
Thereis no mechanism given by AS2 with regard to calculation of NRV.
It is upon the assessee to determine the Net Realizable Value in the market of the underlying inventory but the policy should be followed consistently.
and Raw material shall be shown at Cost.
Thereis no mechanism given by AS2 with regard to calculation of NRV.
It is upon the assessee to determine the Net Realizable Value in the market of the underlying inventory but the policy should be followed consistently.
03 October 2011
I agrees with the experts reply
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Fixe term employment
- Is any professional CA is here please reply
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Putting a heading on received mail
- Section 50-fixed asset-->building ceases to exist
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Gift Received from nonblood relative
- Experts need help
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
