Dear sir,
our firm is a trading company. we account purchases based on GRN date and not the date of supplier invoice. A supplier bills on 28th march 2010(date of removal from his factory) and the goods are received in April 5th 2010 and accounted on April 5th 2010, will the accounting treatment voilate AS9. does significant risk & reward of ownership pass to the buyer as on 28th march 2010 itself?

R/Sir,

I am an accountant doing accounting work on tally. For the first time i am doing accounts with inventory in tally 7.2. As audit date is coming closer and i want to complete the account but I don't know how can one reduce or decrease closing stock in tally 7.2. So, any help would be appreciated.

Thanks in Advance.

You can also mail me at junnu_ali@ediffmail.com

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