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Shares held as stock in trade

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 September 2011 is it really important to value the shares held as stock in trade as per fifo basis for determining cost or market value whichever is lower????
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
13 September 2011 Now a days when shares are held in demat form they are delivered on FIFO basis only and hence valuation of shares should also be on FIFO method.

Valuation should be cost or market value whichever is less though there is no specific accounting standard for that and is taken as current investment as per AS - 13.
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Querist : Anonymous

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Querist : Anonymous (Querist)
13 September 2011 sir, please explain in the respect of stock in trade??
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
14 September 2011 Valuation should be cost or market value whichever is less.
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