loss of stock

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Querist : Anonymous

Querist : Anonymous (Querist)

21 June 2010 dec to fire our company lost goods worth Rs.50000.what will be the accounting treatment.Just reduction in stock value is sufficient and disclosurer in notes on account is sufficient or any other treatmnet is there?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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21 June 2010 Just reduce the stock. The same will effect ur profit.

If the amount is material then disclose in the notes otherwise not.

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Querist : Anonymous

Querist : Anonymous (Querist)

21 June 2010 thank you very much

Aditya Maheshwari

Aditya Maheshwari (Expert)
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21 June 2010 You are welcome.

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