Closing stock
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 May 2013
Dear Experts,
on what Circumstances Closing Stock will not appear in P & L Account and will only appear in Balance Sheet. and where they are adjusting.
Closing Stock is not there in P & L for FY 2011 and they taken as Opening Stock in 2012
but in Balance Sheet it Appears in 2011.
In ITR 5 In Balance Sheet They mentioned
Raw Materials xxx
Consumables xxx
Stock in Process xxxx
Finished good xxx
But in P & L they only Taken WIP & Finished Goods
Is there any Particular Reason not to Consider the Consumable & Raw materials
on what Circumstances Closing Stock will not appear in P & L Account and will only appear in Balance Sheet. and where they are adjusting.
Closing Stock is not there in P & L for FY 2011 and they taken as Opening Stock in 2012
but in Balance Sheet it Appears in 2011.
In ITR 5 In Balance Sheet They mentioned
Raw Materials xxx
Consumables xxx
Stock in Process xxxx
Finished good xxx
But in P & L they only Taken WIP & Finished Goods
Is there any Particular Reason not to Consider the Consumable & Raw materials
09 July 2013
When any consumable stock is there only the consumption made during the year will appear and P & L A/c and the balance will appear in BS
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