Impairment of imported coal valuation
This query is : Resolved
26 June 2021
whethr impairment of imported coal stock is to be valued and accounted for in the accounts of 2020-21? if so, what is the provision ?
26 June 2021
Yes, it's to be accounted in 2020-21. Reduce the value of the stock to the extent of impairment.
26 June 2021
thank u sir but if the price of finished product by consuming the coal increased in this case what to do?
27 June 2021
You are reducing the stock price to the extent of impairment, so price of finished product will not increase.
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