Closing stock
This query is : Resolved
SHILPA MAHAJAN
(Querist)
16 December 2011
Please clearify whether we have to recognise closing stock in a concern following cash system of accounting?
Aijaz Shaikh
(Expert)
18 December 2011
Closing Stock has to be recognised irrespective of method of accounting.
ABHISEK TOSNIWAL
(Expert)
19 December 2011
Yes closing stock has nothing to do with the system of accounting followed by an entity.
Regards
Regards
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