Fob value to be shown in balance sheet

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CA Adarsh (Querist)
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03 May 2014 Dear All,

I have doubt regarding which FOB value to be shown in the Balance sheet.

1. FOB value as per Invoice or,
2. FOB value as per shipping bill, or
3. FOB value as per Bank Realization Certificate.

If we take it as per Bank Realization Certificate, then what about the unrealized invoices till the finalization of Balance sheet.

Kindly clarify which FOB value to be shown in the Balance sheet.

C.A. Mayur J. Raiyani

C.A. Mayur J. Raiyani (Expert)
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05 May 2014 Dear Adarsh, i have come across till date two methods of accounting which is cited above 1 and 2. Both are in practice. Diff at the time of realization is accounted to P & L.

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